(For more retail coverage, click GlobeSt.com/RETAIL.)

CAMBRIDGE, MA-Burlington-based Linear Retail Properties has picked up its 36th property with the $11.85-million acquisition of a 29,706-sf, fully leased shopping center and a vacant 6,200-sf freestanding restaurant here.

Bill Beckeman, a principal with Linear Retail, tells GlobeSt.com that he has had his eye on the 211 & 321 Alewife Brook Parkway property for about three years but it wasn't until recently that he was able to convince owner John A. White Trust to sell.

"It's a property I've had my eyes on ever since I started the company," says Beckeman. "It is the prototype of the convenience-oriented retail I was setting out to acquire."Situated on 3.5 acres across the street from the Fresh Pond Shopping Center, the strip center is fully leased to CVS Pharmacy, Kappy's Liquors, D'Angelo's, Newbury and Pet Supply Closeout. The vacant 6,200-sf freestanding restaurant, which was previously occupied by a Ground Round, has already drawn leasing interest, Beckeman says.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.