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Last Updated ( Wednesday, 04 April 2012 03:24 )
DATE_FORMAT_LC2=Tuesday,April 03 2012 12:00:00 am EDT   
Linear Retail Buys Retail Condo in Boston

304NewburyWEBBoston  — Linear Retail Properties has purchased a 2,865-square-foot retail condo including the garden and first floor levels at 304 Newbury Street in Boston for $2.25 million. The purchase is Linear Retail's 10th acquisition in Boston and the third on Newbury Street.

 Linear Retail worked in cooperation with Boston Real Estate Collaborative which simultaneously purchased the upper three floors consisting of residential apartments. Linear Retail and Boston Real Estate Collaborative converted the property into a condominium structure upon acquisition.

The 304 Newbury Street purchase brings Linear Retail's portfolio to 59 properties throughout New England.

Aubrey Cannuscio, Partner and Head of Acquisitions at Linear Retail commented, "Creating the condo structure with Boston Real Estate Collaborative in a short time-frame was the key to this deal, allowing each party to focus on what they do best. We are excited to make improvements to the property and bring exciting new retail to this rapidly transforming block of Newbury Street."

 

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