Linear Retail’s Second Lexington Acquisition
(Burlington, MA; 01/08/2019) – Linear Retail Properties, LLC, announced today that it has acquired 25 Waltham Street, a 3,729 square foot single-story, storefront retail property located in downtown Lexington, MA for $2,050,000.
Jeremy Cyrier of MANSARD represented the seller in this transaction and presented the opportunity to Linear Retail. Rick Rostoff, VP – Acquisitions of Linear Retail managed the deal on behalf of the buyer.
The property is located on Waltham Street near the intersection of Massachusetts Avenue in the heart of Lexington’s downtown shopping district and is adjacent to a 115 space municipal parking lot. Currently, 25 Waltham Street is available for lease. Contact at Linear Retail is Joel Kadis, Partner – Leasing & Development. Linear Retail also owns the Giroux Building on Massachusetts Avenue which is tenanted by Via Lago, Royal Indian Bistro and Sanyo restaurants; Abbott’s Frozen Custard, Eastern Bank and other retail operators.
Cyrier commented, “Although I have known the Linear team for some time, this is the first property I have sold to them. Linear worked closely with my clients to help close this transaction and I look forward to closing another with them in the near future.”
Aubrey Cannuscio, Partner – Acquisitions of Linear Retail commented, “Lexington Center has one of the most vibrant downtowns in New England with an optimal mix of retail, restaurant and service establishments along with easy access to parking for shoppers’ convenience. We are proud to have acquired over 100 retail properties since we got started 15 years ago. The Lexington purchase was our 7th in the last 6 months which shows that our appetite remains very strong.”
ABOUT LINEAR RETAIL PROPERTIES, LLC
Based in Burlington, MA, Linear Retail is a leading acquirer, owner, developer and operator of retail properties in New England. Linear Retail owns 92 retail properties including convenience-oriented strip shopping centers, specialty storefront retail in select downtown neighborhoods, smaller, well-located centers in dominant retail destination corridors, net leased single tenant retail properties and urban retail condos.