(Burlington, MA)– Linear Retail Properties, LLC, announced today that it has acquired 19-21 School Street, a three-story, 8,131 square foot building in the Downtown Crossing neighborhood of Boston, MA. The property is located near the intersection of School Street and Washington Street on the Freedom Trail and within a short walk of three MBTA stations (Park Street, Downtown Crossing and State Street).
The purchase price for the property was $5,000,000. Mike Edward, Jake Golden and Jon Gifford of Perry Brokerage Associates represented the Seller, Envision Bank, in the transaction. Edward of Perry noted, “Our marketing effort resulted in significant interest and multiple competitive offers. Linear presented the most compelling offer for Envision and executed flawlessly, closing at their offer price. It was a pleasure working with the Linear team.”
The entire three-level building plus basement is currently available for lease, targeting full-building retailers, restaurant operators and service providers. The property’s high profile location makes this an exceptional opportunity for those businesses seeking a new flagship location in the heart of Downtown Crossing. Those interested in leasing the space can contact, Joel Kadis, Partner – Leasing & Development of Linear Retail.
Aubrey Cannuscio, Partner – Acquisitions of Linear Retail commented, “The Downtown Crossing neighborhood has experienced a monumental transformation over the past ten years due to a forty percent increase in the residential population and arrival of dynamic co-working space, tech startups and other burgeoning office occupancy. This acquisition is our fourth retail investment in Downtown Crossing and twenty-fifth in the city of Boston.”