PRESS RELEASE: 3/1/2022: Linear Retail Properties, LLC announced today that it has acquired 25-35 and 53-61 Central Street – two buildings totaling 17,000 SF in the heart of downtown Wellesley Square in Wellesley, MA. The combined purchase price was $12.25 million.
25-35 Central Street is an 11,000 SF two-story building with 6,500 SF of ground floor retail space, 2,500 SF of second floor apartment and office space, as well as 2,000 SF of below-grade retail space. Tenants include Footstock, Laurel Grove, Marika’s Salon, Skinscapes, and Winston Flowers. There is currently 1,182 SF of ground floor retail space available for lease.
53-61 Central Street is a single-story retail store block with 6,000 SF of retail space. The five-tenant building is currently fully leased to Cocobeet, Eileen Fisher, Lacrosse Unlimited, O’Neil Jewelers, and Wellesley Toy Shop.
Linear Retail also owns the immediately adjacent store block located at 61-71 Central Street, currently leased to Coldwell Banker, Dellaria, EYESPOT, J.P. Licks, Wasik’s Cheese Shop and Wolfers Lighting. In addition, Linear owns the store block located at 74-102 Central Street with tenants Alta Strada, Gretta Luxe, Laughing Monk Café, Lockheart Restaurant, MiniLuxe, Webster Bank and Wellesley Books.
Marilyn Santiago of SVN | Parsons Commercial Group represented the sellers in the transaction and commented, “Linear Retail worked collaboratively with ownership for over two years to close on the purchase of the properties. The Linear team was professional, knowledgeable and a pleasure to work with throughout the sale process.”
Aubrey Cannuscio, Co-CEO of Linear Retail commented, “The DiSchino family were the original builders of these properties in the 1920’s. The family has supported small businesses and contributed greatly to the vibrancy of Wellesley Square. The Linear team understands the importance of our stewardship of these properties, and we will continue the work of the DiSchino family to enhance the vitality and charm of Wellesley Square.”