Linear Retail purchases 48,300 s/f Amherst St. Village for $9.73m

Linear Retail Properties, LLC purchased the 48,300 s/f Amherst St. Village located at 550 Amherst St. (Rte. 101A) for $9.73 million. The recently developed shopping center consists of three retail buildings: two free-standing, single tenant buildings leased to Walgreen's and PetSmart, and a 12,800 s/f strip center with eight tenants including Cold Stone Creamery, Verizon Wireless, Allcare Dental, Beneficial Insurance and Hair Cuttery. The fully occupied center is adjacent and connected to the Nashua Village Shopping Center, anchored by Target and including TJ Maxx and Panera Bread. The transaction was brokered by CB Richard Ellis with Christopher Angelone, executive vice president and Leslie Farasci, vice president representing the seller, Regency Centers. Colliers Meredith & Grew has been retained to provide property management services for Linear Retail. Linear also purchased the 50,205 s/f Milford (Mass.) Square Shopping Center located at 138-140 South Main St. (Rte. 140) for $7.265 million Boston-based Colliers Meredith & Grew has been hired by Linear Retail to provide property management services and Milford-based Pinto Real Estate has been retained as the shopping center's exclusive leasing broker. In East Harwich, Mass., Linear Retail purchased the Harwich East Plaza, a 42,881 s/f shopping center located at the intersection of Rtes. 39 and 137. The purchase price was $10.465 million. The transaction was brokered by Thomas Godino Sr., president of Newton-based Godino & Company, Inc. Linear Retail has retained Burlington based KeyPoint Partners to provide property management services and Fairhaven-based Phoenix Commercial Real Estate as the shopping center's exclusive leasing broker. Commenting on the purchases, William J. Beckeman, President and CEO of Linear Retail stated, "Despite the ongoing turmoil in the real estate and credit markets, we are well positioned to maintain, or even accelerate our pace of acquisitions in the coming months. We are very pleased to have surpassed a couple of milestones with these three purchases and expect to announce more shortly." About Linear Retail Properties, LLC Linear Retail Properties, LLC is a retail real estate acquisition and operating company launched by William J. Beckeman in 2003 in partnership with Principal Enterprise Capital, a subsidiary of the Principal Financial Group. Linear Retail Properties focuses on the acquisition, operation, and repositioning of convenience-oriented retail properties in Eastern Massachusetts, Southern New Hampshire, Rhode Island and Southern Maine. Targeted acquisitions include small to mid-sized, typically "unanchored", retail properties ranging from fully-stabilized shopping centers and free-standing stores to retail sites in need of complete redevelopment. Individual investments will typically range from a minimum of $1 Million to $20 million. Portfolio purchases, urban retail condos, and urban mixed-use properties are also pursued aggressively. Since the Company's formation just over four years ago, Linear Retail has purchased 44 retail properties for more than $200 Million. Visit http://www.linearretail.com for more information about Linear Retail Properties, LLC.