SAUGUS–We are in an age where Amazon is everywhere you look, from boxes to trucks to a grocery store in Saugus.
The company will soon open the doors of its first Amazon Fresh in New England in the Saugus Plaza shopping center, at the former site of the Big Y supermarket. The project was kept secret for months, but was made public via the Boston Business Journal on Nov. 18. Amazon, however, has neither confirmed nor denied the rumors.
Initially, an announcement regarding the construction of a new vision for the shopping plaza was announced in February by JLL Capital Market during a Saugus Board of Selectmen meeting. During that time, it was arranged for a $33.5 million refinancing. When asked for more information by the board, those involved with the project could not speak on what the new store would be.
“While the pandemic has created significant challenges in the retail market, it is important to note that the availability of capital remains intact for well-located, anchored retail,” said JLL Managing Director Brett Paulsrud, who oversees the team working with Saugus Plaza. “The strength of the Finard (Properties) sponsorship, historic performance of the center, and diverse mix of tenants generated strong interest from the lending community.”
Boston-based management company Finard Properties has been supervising the project and working with JLL to place a fixed-rate loan. The loan was used to build out the grocery space for a national credit grocery.
In July, during a Board of Selectmen meeting, Finard representatives asked for extended hours for the location. During this meeting, Selectman Debra Panetta asked what would replace the Big Y and Rite Aid stores at the building site, which had been combined into the mysterious new building. Finard representatives declined to inform the town of its plans, saying that the company had signed a non-disclosure agreement.
All the while the companies were trying to keep their operations a secret, rumors have been circulating around town.
When you drive through the town you will notice the big building, which has similar features as other Amazon Fresh locations: the siding, the color scheme, design layout, and even windows and doors distinctively match the other stores’.
There have also been job offers on multiple popular job websites showing openings for an Amazon Fresh located in Saugus.
There were additional rumors about an Amazon Fresh opening soon in Braintree. While neither are confirmed, and opening dates are unsure, it is a race to see which location will finish construction first. Whichever store opens first will be the first Amazon Fresh north of Washington D.C.
Amazon declined to comment on the Saugus location; however, a representative said that the company will likely not announce it until two to three days before the store’s grand opening.
Hannah Chadwick can be reached at [email protected].
