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Linear Retail Takes Plaza in $6M Buy

DANVERS, MA-Linear Retail Properties acquired its 15th shopping plaza in less than three years with the $6-million purchase of a 29,003-sf plaza in Danvers. The firm says its buying spree will continue.

By Beverly Ford | Updated on July 12, 2006

DANVERS, MA-Just three years after forming, Burlington-based Linear Retail Properties acquired its 15th shopping center with the $6-million purchase of a 29,003-sf, 79% occupied property on Route 1 here.

William J. Beckeman, with Linear Properties, tells GlobeSt.com that the off-market acquisition from locally based GFY Realty Limited Partnership, is just one of several the firm plans to buy in New England in the upcoming months.

“We’ve only invested a third of the capital allocated to us so we have a lot more buying to do,” says Beckeman.

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