Linear Retail Pays $12M for 7th Nashua Property

1 Feb 2016

Linear Retail Pays $12M for 7th Nashua Property
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Barnes & Noble_235 Daniel Webster Hwy Nashua, NHThe Real Reporter- NASHUA, NH — And now there is one—owner, that is, of all four retail properties at what Linear Retail Partners principal William J. Beckeman deems “arguably the best intersection in all of Nashua,” and if so, that is good news for his Burlington, MA-based operation that just paid $12 million to secure the Barnes & Noble Bookstore at 235 Daniel Webster Highway, complementing three other assets assembled over the past decade where Spit Brook Road converges with DWH.

“It fills out the corner nicely for us,” Beckeman tells Real Reporter in the wake of an all-cash deal that completes the four-piece puzzle at that light and brings Linear’s overall Nashua portfolio to seven properties. “It’s a great fit fot us,” Beckeman says in stating the obvious that, “we like Nashua a lot” even as the firm’s expanding fiefdom of convenience-oriented retail stretching from New Hampshire to Rhode Island and now at 80 assets overall continues to expand in other markets, with 2015 an especially active season on the acquisitions front, that group led by Aubrey Cannuscio.

Linear is picking right up where it left off in 2015, evidenced between the Barnes & Noble purchase and a separate Boston deal for the $2.1 million of a 7,325 sf-retail asset in the city’s West Roxbury District. 1869-1881 Centre St. in another all-cash investment, taking on a multi-use, single-story structure anchored by Atlas True Value Hardware and Rox Diner, with the only unit available being 700 sf that Linear is now marketing in-house through Vice President Evan Eisenhardt.

A representative of the seller, Neil Hoffman, says his client’s legacy ownership that dates back a half-century was looking for a new steward who would tend to the structure which dates to 1920.

“Linear Retail’s reputation as a professional real estate operator was confirmed during our transaction,” Hoffman says in a prepared statement, adding, “The property rests in very capable hands.”

As in the case of Nashua, Linear has been growing its stake in other neighborhoods outside the downtown core where it does own other assets. In West Roxbury, the firm also owns the 7-Eleven at 1710 Centre St. and this past May scooped up 745 South St. in abutting Roslindale, with 1869-1881 Centre St. its 22nd Hub conquest.

As to the Nashua cluster, 235 Daniel Webster Highway complements the existing Linear holdings at Daniel Webster Crossing, Daniel Webster Plaza and Daniel Webster Shops whose tenant mix includes the likes
of Fidelity Investments, Jos. A. Bank, La-ZBoy, and Xfinity plus numerous dining options such as Chipotle, Noodles, Not Your Average Joe’s, Panera Bread and Starbucks. Linear elsewhere in the city owns a shopping center on Rte 101A/Amherst St. adjacent to Target.

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