Peabody Main Street Former TD Bank Branch Purchased For $950K

PEABODY, MA — The investment management company that bought up several buildings in downtown Peabody in 2019 said it has added to its stake in the area with the purchase of the former TD Bank branch on Main Street.

ViceRoy Capital Management said it completed the purchase on Aug. 10 for $950,000 and intends to lease the property to an occupant in the spirit of the city's downtown revitalization project.

"We will be working closely with the mayor's office and Peabody Main Streets to ensure the uses are compatible with the mayor's goals of improving the vibrancy of the downtown," Co-Managing Partner of ViceRoy Sandra Capo said. "The city has put considerable energy into the resurgence of the downtown and we want to ensure our leasing decisions are compatible with the mayor's and the city's objectives overall."

ViceRoy said it now owns 12 buildings in the city, including 11 that were purchased in August 2019 for $17.3 million.

"We are very excited to acquire such a key asset," said Carl Valeri, Co-Managing Partner of ViceRoy. "The building's exterior charm and interior character lend itself to many uses which will bring in more pedestrian traffic to the Main Street Corridor."

Valeri said the building includes 10,000 square feet of usable space.

ViceRoy said in a statement that it is has hired leasing broker Fred Newton of Sovereign Realty to find an occupant that fulfills "the mayor's goal to improve Main Street's vibrancy."

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(Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached at Scott.Souza@Patch.com. Twitter: @Scott_Souza.)