New ownership has plans to redevelop Silver City Galleria

Taunton, MA-Thibeault Development, through its singularly owned entity Silver City Holdings WT LLC, completed its acquisition of the Silver City Galleria on May 17, 2019. Thibeault Development was the winning bid at auction for the 1,100,000 ft.² center on 137 acres. William Thibeault, its principal, has developed large real estate holdings throughout New England. Thibeault Development specializes in acquiring complex real estate projects and the acquisition of the Silver City Galleria is no different. The mall has recently lost its anchors Sears, Macy’s, JCPenney and Best Buy.

At the completion of the closing, William Thibeault issued the following statement “This was an extremely fast closing. I would like to thank all parties involved for their cooperation and especially Taunton’s mayor Thomas Hoye Jr. whom has welcomed my organization with open arms. I am extremely excited about this opportunity. Rarely do you find a significant piece of land centrally of this size, located 40 minutes from Providence, Rhode Island and Boston, Massachusetts with built-in infrastructure and flexible zoning. Truly one-of-a-kind. The mall will continue to operate with its current management company, JLL, and I look forward to discussing our redevelopment plans in the near future.”

Silver City Galleria is a two-level enclosed shopping center located in Taunton, Massachusetts, just 38 miles from downtown Boston. It includes a 10-screen Regal Cinemas, Food Court, Round One Entertainment, Bristol Community College – Taunton campus, Work Out World! and a wide variety of national fashion and specialty retail shops.

Thibeault Development is a privately held, multi-platform real estate company. It operates throughout New England, with a strong presence in downtown Boston. Thibeault Development develops, operates, manages and owns residential, retail, industrial and mixed- use properties. Residential properties include re-developed downtown Boston buildings, urban ring apartment complexes and suburban subdivisions and residential communities. Retail projects have included big box retail development and storefront Boston sites. Thibeault Development’s industrial properties are both operating heavy industrial sites, smaller light industrial rentals and commercial storage and warehouse facilities.

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Their vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, JLL will build a better tomorrow for their clients, their people and their communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.