Linear Retail breaks ground on 12,000 s/f Daniel Webster Shops
Linear Retail Properties, LLC, has broken ground and started construction on Daniel Webster Shops, located at 219 Daniel Webster Highway.
On December 18, 2012 Linear Retail purchased 219 Daniel Webster Hwy., a 43,947 s/f development site which was owned by Cumberland Farms, Inc. Linear Retail is redeveloping the site into a single-story shopping center of approximately 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.
Bryan Furze, VP of leasing & asset management with Linear Retail said, "We're building an inviting environment that will tie to two properties. Daniel Webster Shops will connect to Walgreens and to shops in the rear helping to pull traffic from Daniel Webster Highway and encourage cross-shopping. Previously, the site had been an eye-sore. Now, we look forward to bringing small shop space to the city of Nashua."
Donnalee Lozeau, Mayor of Nashua commented at the Ground Breaking event to Linear Retail, "Our job is to help make the environment you're describing. We welcome you and look forward to what's going to be here."
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.