The Boston Globe – Preservation efforts at the historic Shirley Meeting House recently got a boost. The nonprofit group that tends to the property received $20,000 from the Montachusett Society for the Preservation of Historic Buildings to finish restoring its bell tower and weathervane. The group has also completed a handicap accessibility plan for the structure at 41 Brown Road, on the old town common, and will soon seek grants for it. The Meeting House’s history goes back to 1773. For more information, visit www.shirleymeetinghouse.org.
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Shopping Center Business (Lexington, MA) – Linear Retail Properties LLC has acquired the Giroux Building, an 18,228-square-foot multi-tenant property with storefront retail located in downtown Lexington, for $10.45 million.
The fully leased block of retail stores is comprised of nine local and regional tenants including Via Lago Restaurant, Yangtze River Restaurant, Eastern Bank and Dellaria Salon. Connie Neville of Sperry Van Ness/Neville & Associates represented the seller, The Giroux Building Unlimited Partnership.
Shopping Center Business –Linear Retail Properties has acquired a three-property retail portfolio, totaling 124,093 square feet, in Massachusetts for $57.5 million.
The portfolio includes Eaglewood Shops at 175 Turnpike St. in North Andover, Main Street Marketplace at 1030 Main St. in Waltham and 1036 Main St. in Waltham. Acquired for $34.2 million, the 77,558-square-foot Eaglewood Shops is fully leased to Burtons Grill, Staples, Pier 1 Imports, Jos. A. Bank and Chipotle. The 44,461-square-foot Main Street Marketplace is fully leased and sold for $22.4 million. The adjacent 2,074-square-foot property, 1036 Main Street, was purchased for $850,000. The seller was Ross Hamlin.
citybizlist (6/2/2015) – Linear Retail Properties, LLC, announced that Peet’s Coffee, based in Emeryville, California, is now open at the corner of Charles Street and Mt. Vernon Street in the heart of Boston’s Beacon Hill neighborhood.
The 1,842 square foot Peet’s Coffee shop, at 66 Charles Street, offers its premium quality, hand-roasted coffee along with gourmet baked goods in an inviting, upscale setting. The location is in the center of Beacon Hill’s Historic District, two blocks from Boston Common and the Public Gardens. Pat Paladino of Colliers represented Peet’s Coffee and Adam Conviser of Conviser Property Group represented Linear Retail Properties, LLC in the deal.
The Telegraph (2/15/15) – As a metaphor for the changing cable-TV industry, the first Xfinity store in New Hampshire is pretty good.
The shiny store, which opened its doors two months ago, had its official ribbon-cutting Wednesday, complete with greetings from Mayor Donnalee Lozeau, a number of Comcast executives and somebody dancing around in the costume of a giant remote control.
Eight staffers will work in the 4,000-square-foot store at 219 Daniel Webster Highway, across from the Best Buy in south Nashua. They’re trained to demonstrate everything from the TV-and-lots-more package called the X-1 Platform to a variety of mobile apps.
citybizlist – Linear Retail Properties, LLC, announced today its acquisition of a prominent retail condominium unit at the intersection of First Street and Cambridge Street in East Cambridge. The 3,075 square foot unit is located directly across the street from the Lechmere Green Line subway Station and two blocks from the CambridgeSide Galleria Mall.
The purchase price of the property was $2.4 million. The unit is occupied by Finagle a Bagel on a short term basis and is available for lease. Rick Rostoff, Vice President of Acquisitions, sourced this property directly from the seller, Cambridge-FAB LLC.
Barnstable-Hyannis Patch – (Burlington, MA; 12/22/2014)– Linear Retail Properties, LLC, announced today that Domino’s has opened at its Yarmouth Shopping Center, located at 471 Station Avenue in Yarmouth, Massachusetts. Domino’s occupies 1,800 sf.
The new “pizza theatre” concept by Domino’s invites customers in the store to experience pizza making right in front of them. The new build-out matches its improved brand image and products. The Yarmouth store features a modern look with ample seating, a giant chalkboard wall, and a digital tracking display on the wall for customers to see which order is up next. The new restaurant now caters to those that want to sit and enjoy pizza at the location instead of just ordering take-out.
Florijn Home is a new boutique home décor store in Wellesley, MA and is the only one of its kind. The store, pronounced “Flor-ine” gets its name from the Dutch spelling of the word “Florin,” the gold standard in Europe since the time of the Medici bank (Florin, for Florence). The store carries products of the Northern European aesthetic with pieces from around the world including everything from votives, lanterns and dishware through furniture and artwork. Florijn Home is owned by the Barreveld Family.
citybizlist (12/8/2014) – Linear Retail Properties, LLC, announced today that it has hired Rick Rostoff as Vice President of Acquisitions. Rick will be responsible for sourcing and closing retail acquisitions in eastern Massachusetts, southern New Hampshire, Rhode Island and southern Maine.
Aubrey Cannuscio, Partner and head of Acquisitions of Linear Retail commented, “We are excited to have Rick join our growing team. Rick has a proven track record for closing deals and we expect him to contribute greatly to growing Linear’s portfolio.”
Prior to joining Linear Retail, Rick founded and operated Spectra Realty Associates, where he participated in the brokerage and development of over $200 million in retail, hotel, and office properties. At Spectra, Rick represented some of New England’s largest commercial real estate developers and owners as well as numerous retail and hotel REIT’s.
NEREJ (11/28/2014) – Linear Retail Properties is a leading acquirer, owner, developer and operator of retail properties in New England. Based in Burlington, MA, Linear was created in 2003 by its President & CEO, Bill Beckeman in partnership with a prominent financial institution. At that time, Beckeman went against conventional thinking, eschewing large anchored shopping centers in favor of well-located, small stores typically housed in smaller, convenience-oriented retail properties. The different focus was driven by Beckeman’s keen understanding of the New England retail real estate landscape and awareness of consumer and technology trends which pointed to the increasing desirability of smaller format stores and properties.