All posts tagged Acquisitions

9 Jan 2019

Downtown Lexington Retail Property Sells for $2M
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Banker & Tradesman – A vacant, single-story retail building in the heart of Lexington has been sold for $2.05 million.

Linear Retail Properties LLC purchased 25 Waltham St., a 3,729-square-foot, single-story storefront retail property in Lexington Center. The property is currently available for lease, according to a statement from the company. The building was last sold in 1975 and is currently assessed for $640,000, according to town property tax records. The town’s zoning bylaw currently requires new banks and real estate offices to obtain a special permit from the town planning board.

8 Jan 2019

Linear Retail Acquires 25 Waltham Street Downtown Lexington
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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.

20 Dec 2018

Linear Retail Acquires Prime 3-Story Downtown Crossing Property
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(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.”

14 Nov 2018

Linear Retail Acquires Newton Retail Portfolio
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Banker & Tradesman – Linear Retail Properties LLC has purchased a bundle of retail properties in Newton.

The company announced earlier this week that it has acquired three properties including 1197-1203 Walnut St., 1637 Centre St. and 1193 Walnut St., as well as one property in Newtonville located at 309-321 Walnut St.

The purchase price for the four-property portfolio was $11.2 million. Linear Retail was represented by Tom Godino, president of Godino & Co. Inc.

“This is the third transaction that I have closed with Linear Retail,” Godino said in a statement. “Linear presented the long-time owner with an unsolicited offer based upon limited information and they were able to close at an aggressive price. It was a pleasure working with the Linear team.”

12 Nov 2018

Linear Retail Acquires Newton Retail Portfolio
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Linear Retail Properties, LLC, announced today that it has acquired three retail properties in Newton Highlands including 1197-1203 Walnut Street, 1637 Centre Street and 1193 Walnut Street, as well as one property in Newtonville located at 309-321 Walnut Street.

The purchase price for the four property portfolio was $11,200,000. Linear Retail was represented by Tom Godino, President of Godino & Company, Inc. Godino noted, “This is the third transaction that I have closed with Linear Retail. Linear presented the long-time owner with an unsolicited offer based upon limited information and they were able to close at an aggressive price. It was a pleasure working with the Linear team.”

3 Apr 2017

Linear Buys Boston Retail Condo For $2.6M
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Banker & Tradesman – Burlington-based Linear Retail Properties LLC has acquired a retail condo at 127 Tremont St. in Boston for $2.6 million.

The 2,135-square-foot space across from the MBTA’s Park Street station is leased to a Dunkin’ Donuts franchisee, Watermark Donut Co.

Tremont Street LLC 127 of Charlestown acquired the 6-story building on March 10 for $7.8 million and carved out a condo structure for the ground-floor space. Linear has acquired 24 retail properties in Boston and is seeking to complete additional similar transactions, CEO Bill Beckeman said in a statement.

12 Jan 2017

Linear Retail Acquires 51,000 SF Shopping Center in Manchester, NH
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Manchester-Maple-Tree-Mall-Linear-Retail(Burlington, MA; 01/12/2017)- Linear Retail Properties, LLC, announced today that it acquired Maple Tree Mall located at 535-555 Hooksett Rd. in Manchester, NH for $4,000,000.

Maple Tree Mall is a 51,000 SF shopping center located 1/2 mile south of Interstate 93, exit 9, and 1 mile north of downtown Manchester/Elm Street. Center tenants include; La Carreta Mexican Restaurant, SalonCentric, Cyr Kitchen & Bath Home Design Center and Papa Gino’s. There is 1,600 – 18,000 SF available for lease.

12 Jan 2017

New owner plans renovation at Maple Tree Mall
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Manchester-Maple-Tree-Mall-Linear-RetailThe Union Leader – The Maple Tree Mall is in line for a facelift.

A Massachusetts firm bought the North End strip mall for $4 million.

“We’ll renovate it to bring it into the current century,” said Aubrey Cannuscio, partner of acquisitions for Linear Retail Properties, LLC of Burlington, Mass.

A “significant amount” of money will be invested to make improvements to the mall’s facade, signage, lighting and parking lot, he said Thursday.

15 Dec 2016

Linear Retail Acquires its Eighth Nashua Property
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linear-retail-nashua-acquisition-bk-old-navy(Burlington, MA; 12/15/2016)- Linear Retail Properties, LLC, announced today that it acquired two retail properties in Nashua, NH along the Daniel Webster Highway/Spit Brook Road retail block for $12.5 million. The freestanding buildings are leased to Old Navy and Burger King.

The two buildings, totaling 27,673 SF, are located in close proximity to six other Linear Retail properties including; Daniel Webster Crossing, Daniel Webster Plaza, Daniel Webster Shops, and freestanding properties leased to Barnes and Noble, Chili’s and Uno’s.

Geoffrey Millerd and Justin Smith of Newmark Grubb Knight Frank represented the Seller and Aubrey Cannuscio, Partner – Acquisitions, represented Linear Retail.

11 Feb 2016

Linear Retail Acquires Historic Friend Block in Concord, MA
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Friend's Block Concord 1(Burlington, MA; 2/11/2016) – Linear Retail Properties, LLC, announced today that it acquired the two-story Friend Block located at 49-57 Main Street in Concord, MA for $4.7 million. The property was sold by the Friend Block Realty Trust.

The Friend Block is located at the center of Concord’s shopping district at the intersection of Main St (Rte. 62) and Walden St. Originally constructed in 1892, the 11,740 SF site is on the National Registry of Historic Places. The site is named after John Friend, who opened a pharmacy in the late 1800’s.

Mostly vacant, Linear expects to fill the building with shops complementary with Concord’s town center. Linear plans on modernizing the building’s interior while respecting the exterior’s historic design. Those interested in leasing should contact Joel Kadis, Partner – Leasing & Development of Linear Retail.

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