Business & Tech
Lexington Retail Block Acquired for $10M
Downtown Lexington Retail Block Acquired by Linear Retail
(Burlington, MA; 06/24/2015)- Linear Retail Properties, LLC, announced today that it has acquired the Giroux Building, an 18,228 square foot multi-tenant, store-front retail property located at 1833-1853 Massachusetts Avenue in downtown Lexington, MA.
The Giroux Building offers frontage on four streets including Massachusetts Avenue, Meriam Street, Depot Square and Depot Place and overlooks the historic Buckman Tavern and Battle Green in Lexington Center. The fully leased store block is comprised of nine local and regional tenants including Via Lago Restaurant, Yangtze River Restaurant, Eastern Bank and Dellaria Salon. The purchase price of the property was $10,465,000. The Seller, The Giroux Building Limited Partnership, was represented by Connie Neville of Sperry Van Ness/Neville & Associates.
Neville commented, “This was my first opportunity to work with Linear Retail. I was impressed by their professionalism and most importantly, their aggressive offer. I look forward to working with them on the next deal.”
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Aubrey Cannuscio, Partner – Acquisitions commented, “This acquisition represents Linear’s first acquisition in the town of Lexington. We continue to seek additional acquisitions in vibrant communities like Lexington.”
ABOUT LINEAR RETAIL PROPERTIES, LLC
Based in Burlington, MA, Linear Retail is a leading acquirer, owner, developer and operator of retail properties in New England. Linear Retail owns 78 retail properties including convenience-oriented strip shopping centers, specialty storefront retail in select downtown neighborhoods, smaller, well-located centers in dominant retail destination corridors, net leased single tenant retail properties and urban retail condos. For more information visit www.linearretail.com or on Twitter: @LinearRetail
ABOUT SPERRY VAN NESS INTERNATIONAL CORPORATION
Sperry Van Ness International Corporation (SVNIC), a commercial real estate brokerage franchisor headquartered in Boston, MA, is one of the industry’s most recognized brands based on the annual Lipsey Top Brand Survey. With more than 190 locations in 500 markets, Sperry Van Ness® Commercial Real Estate Advisors provide sales, leasing, and property management services to more than 5,550 clients worldwide. SVN® Advisors also represent clients in auction services, charter schools, corporate real estate, distressed properties, golf & resort, hospitality, industrial, investment services, land, medical, multifamily, office, retail, self-storage and single tenant investments. All Sperry Van Ness offices are independently owned and operated. For more information, visit http://www.svn.com