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Peabody Essex Museum Buys Rowley Property

By Steve Adams | Banker & Tradesman Staff | May 15, 2017 | Reprints | Print

Peabody Essex Museum has acquired a 112,400-square-foot industrial building at 306 Newburyport Turnpike in Rowley.

The museum is not disclosing its plans for the property at this time, spokeswoman Whitney Van Dyke said. The purchase price was $7 million; the seller was Daly-Rowley LLC.

The museum broke ground in December on a new 40,000-square-foot wing of gallery space and planned to add an 112,000 off-site collection center, according to an announcement last year.

NAI Hunneman’s Jim Boudrot, David Gilkie and Michael Allen represented the seller, while F. Michael DiGiano represented the museum.

B&T Daily