Linear Retail Properties, LLC,has purchased two properties at 219 and 285 Daniel Webster Hwy.
On December 18, Linear Retail purchased 219 Daniel Webster Hwy., a 43,947 s/f development site which was owned by Cumberland Farms, Inc. The purchase price was $1.45 million. Linear Retail plans to redevelop the site into a single-story shopping center of 12,000 s/f (divisible to 1,500 s/f). Joel Kadis, partner of leasing at Linear Retail will handle the leasing of the site.
Nine days later, Linear Retail purchased 285 Daniel Webster Hwy., a 5,969 s/f stand-alone restaurant leased to Chili's Grill and Bar. The property is located across the street from the Pheasant Lane Mall. The purchase price was $3.75 million. Linear Retail now owns four properties in Nashua: three located on Daniel Webster Hwy. and one on Rte. 101A.
Michael O'Mara, with Calkain Companies, Inc., represented the owner of 285 Daniel Webster Hwy. O'Mara said, "Linear Retail was the logical choice for this site given their knowledge of the market and their strong closing track record."
Aubrey Cannuscio, partner of acquisitions with Linear Retail said, "These two purchases represent different ends of the spectrum of the types of properties we seek to purchase. One is a single tenant property in a terrific location and the other is a ground-up development opportunity strategically located next to a much larger center that we already own. We look forward to making many more purchases in New Hampshire, Massachusetts and Rhode Island in 2013."