DW Highway businesses sold for $12.5M

17 Dec 2016

DW Highway businesses sold for $12.5M
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nashua-telegraph-photo-232-234-dwyNashua Telegraph – The Old Navy and Burger King at 232-234 Daniel Webster Highway and 4 E. Spit Brook Road have been purchased for $12.5 million.

Linear Retail Properties, of Burlington, Mass., purchased the property on Tuesday, Dec. 13, from Spitbrook Shopping Center LLC, which is owned by Saxon Partners, of Hingham, Mass.

Geoffrey Millerd and Justin Smith, of Newmark Grubb Knight Frank, represented the seller, and Aubrey Cannuscio, acquisitions partner for Linear Retail, represented the buyer.

Cannuscio said Linear Retail Properties has no plans to change either of the businesses or to develop any other businesses on the property.

The two buildings, which are 27,673 square feet in total, are located near six other properties owned by Linear Retail Properties, including Daniel Webster Crossing, which includes Panera Bread and Jos. A. Bank; Daniel Webster Plaza, which includes Starbucks, TD Bank and Chipotle; and a freestanding property leased to Barnes & Noble, which was purchased earlier this year.

The company also owns properties on Amherst Street, including Walgreens, Petsmart, Uno Pizzeria & Grill and Chili’s.

Nashua residents shouldn’t expect Linear Retail’s rapid property acquisition to slow down anytime soon.

“Linear Retail’s acquisition of these prominent retail properties solidifies our dominant presence on Daniel Webster Highway,” Cannuscio said in a statement.

“Our acquisition appetite remains very strong as we seek to purchase many more retail properties in Massachusetts, New Hampshire and Rhode Island in the coming months.”

Linear Retail owns 83 retail properties in New England.

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