Linear Retail Properties acquires third N.H. property for $8 million
Salem, NH Linear Retail Properties, LLC, has purchased Salem Park Plaza at 125 S. Broadway, at the intersection of Rockingham Park Blvd. (Rte. 93, Exit 1). The acquisition marks Linear Retail's third purchase in New Hampshire in the last few months having purchased two retail properties in Nashua in separate transactions in December. The Salem purchase brings the company's portfolio to 67 retail properties throughout Mass., N.H. and R.I.
Salem Park Plaza is a 37,933 s/f shopping center anchored by Barnes & Noble. The fully leased center's other tenants include Pier 1 Imports, Jos. A. Bank, T-Mobile, Findeisen's Ice Cream and an enclosed Bank of America ATM. The purchase price was $8 million.
Bill Beckeman, president and CEO of Linear Retail said, "We acquired 10 properties in a very competitive market in 2012 and hope that this initial purchase in 2013 is the first of many more this year."
Story ran in the Northern New England section on 02/01/2013