(Burlington, MA; 03/28/2017)– Linear Retail Properties, LLC, announced today that it acquired a retail condominium unit at 127 Tremont Street in Boston, MA for $2.6 million.
The 2,135 SF retail condominium is currently leased to Watermark Donut Company, a Dunkin’ Donuts franchisee. The building is located directly across from the Park Street MBTA “T” station on Boston Common at the entrance to Downtown Crossing. The retail unit comprises the first floor of a six-story building.
This acquisition marks Linear Retail’s 24th retail property investment in the city of Boston. Other Boston properties owned by Linear Retail include: 580 Washington Street, 50-60 Franklin Street, 58 Summer Street, 729 Boylston Street, Lincoln Plaza, and four properties are on Newbury Street.
Bill Beckeman, President and CEO of Linear Retail commented, “Linear worked in cooperation with a Boston-based investor to acquire this property and simultaneously create a condominium structure with Linear purchasing the ground level space and the other investor retaining the upper levels for redevelopment. We welcome the opportunity to work with other owners seeking to complete similar transactions.”