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.
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Boston Real Estate Times – BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announced that it has arranged $34.5 million in first mortgage financing for Alewife Brook Parkway Shopping Center, a 47,004-square-foot, Trader Joe’s and CVS-anchored center in Cambridge, Massachusetts.
Working on behalf of Linear Retail Properties, LLC, HFF placed the fixed-rate loan with Nationwide Life Insurance Company.
Catherine Millane Joins Linear as Acquisitions Analyst
Catherine joined Linear Retail this month as an analyst in the acquisitions department. In her role, Catherine is responsible for underwriting new acquisitions opportunities, coordinating due diligence activities, and providing support to the asset management and leasing teams.
Prior to joining Linear, Catherine worked at RAIT Financial Trust, a publicly traded real estate investment trust based in Philadelphia.
Burlington (9/14/2016) – Linear Retail welcomes Ken Nolan as the newest member of the team. In his role as Asset Manager, he manages a portfolio of assets located in New Hampshire and Massachusetts, which includes both suburban and urban retail properties. Ken is responsible for developing a strategy to maximize the value of each asset and putting that strategy into effect, utilizing Linear’s in-house leasing, marketing and construction teams.
Prior to joining Linear Retail Properties, Ken was a Vice President of Real Estate with Capital Crossing Servicing Company, where he was a part of the Asset Management and Acquisition teams. He was responsible for a $200 million portfolio of real estate assets throughout the country, across all property types. He also participated in the acquisitions of distressed real estate loans totaling over $3 billion. Ken earned his law degree at Suffolk University Law School and is admitted to the Massachusetts bar.
Shopping Centers Today– Not all father-daughter combinations work side by side in the industry, but they may still share a common bond that augments the family relationship. Such is the case with William (Bill) Beckeman, president and CEO of Burlington, Mass.-based Linear Retail Properties, and his daughter Bridget.
Bill founded Linear Retail, which owns, acquires, develops and manages retail properties in New England, in 2003. He is trained as a structural engineer, but also spent years in property management with John Hancock Properties and as a partner with Finard & Co. He has two daughters. Bridget, 28, is a Harvard graduate and has been an asset manager at Jamestown Properties since 2014. Her sister, Lily, 26, lives in New York City and is involved in the fashion industry.
NREI – Linear Retail has been listed on National Real Estate Investor’s, “Top Retail Owners of 2016.” The listing of the top owners of retail real estate was compiled using responses to NREI’s top owners of retail real estate survey, earnings reports and company Web sites. It is based on the total size of the companies’ U.S. portfolios as of Dec. 31, 2015.
See full list here: http://nreionline.com/retail/2016-top-retail-owners
NASDAQ – WESTERLY, R.I., Sept. 28, 2015 (GLOBE NEWSWIRE) — Washington Trust’s Commercial Real Estate Group (Nasdaq:WASH) recently provided $20.67 million to Linear Retail Properties for the financing of Eaglewood Shops, a 77,558 square-foot shopping center located at 175 Turnpike Street in North Andover, MA.
Eaglewood Shops is a Class A retail center comprised of three buildings across 13 acres and is anchored by Staples. The fully leased center also includes Burton’s Grill, Pier 1 Imports, Jos. A. Bank, Chico’s, Chipotle, b.good and other national and regional retailers. Built in 2005 along Route 114, it is situated at the primary retail corridor of North Andover. Linear Retail acquired the Shops in June 2015.
Shopping Centers Today– Craft Beer is providing quite the buzz to the retail market. There are nearly 2,400 craft breweries now operating in the U.S., and both volume and dollar share of the entire U.S. retail beer market is growing rapidly. And it is not just the beer connoisseurs of the world who are enjoying a tasty beverage. “Even the average Joe has engaged in craft beer,” said Darren Tristano, an executive vice president at Technomic, a Chicago-based food-industry research and consulting firm. “It’s not too expensive; craft beer is an affordable indulgence, and consumers are willing to spend more money for it.”
$4.38 Million Acquisition of 926-950 South Willow Street in Manchester, NH
(Burlington, MA; 04/13/2012)– Linear Retail Properties announced today their purchase of a 9,870 square foot shopping center at 926-950 South Willow Street in Manchester, New Hampshire. The $4,385,000 purchase marks Linear Retail’s fourth acquisition in three weeks, expanding the company’s portfolio to 61 properties throughout Massachusetts, New Hampshire, and Rhode Island.
The plaza is situated at a prominent, signalized intersection in the heart of the South Willow Street retail area, directly across from the TJ Maxx Shopping Center. The shopping center is fully leased to four tenants; Chipotle Mexican Grill, Mattress Giant, US Cellular and Hannoush Jewelers.
Rick Rostoff with Spectra Realty, brokered the transaction, representing Linear Retail as the buyer.
The Boston Globe Business – Linear Retail said it has bought two Boston retail properties, one on Congress Street in the city’s Fort Point neighborhood, the other on Newbury Street.
A Burlington-based real estate firm, Linear Retail said it has purchased retail locations on the lower levels of 346-354 Congress St. for $4.8 million.
The upper levels of the seven-story building have been redeveloped into luxury condos by Berkeley Investments Inc., a Boston-based real estate investment and development company. The retail space that Linear just bought is fully leased to two tenants, Barrington Coffee Roasting Co. and Barbara Lynch Gruppo. Celebrity chef Barbara Lynch occupies 14,286 square feet of space there and operates three separate restaurants — Menton, Sportello, and Drink, Linear Retail said. Boston Urban Partners brokered the transaction, representing the seller, 346 Congress Street LLC, and procuring Linear Retail as the buyer.