Linear Retail Properties, LLC, completed its 5th purchase in Nashua, at 8 Spit Brook Rd. in the Daniel Webster shopping corridor.
Daniel Webster Crossing (previously Spit Brook Plaza) is a 28,030 s/f shopping center anchored by Panera Bread, Jos. A. Bank and T-Mobile. The purchase price was $6.225 million.
Daniel Webster Crossing is Linear Retail's fourth acquisition in the Daniel Webster shopping district. Linear Retail also owns a fifth Nashua shopping center on Rte. 101A/ Amherst St. in north Nashua adjacent to Target.
Daniel Webster Crossing takes its name from its location at the primary south Nashua intersection of Spit Brook Road and Daniel Webster Highway.
The center is connected to two other Linear Retail centers: Daniel Webster Plaza (anchored by Pier 1, Fidelity, Chipotle & La-Z-Boy) and Daniel Webster Shops (currently under construction and expected to open later this year). Linear Retail also owns 285 Daniel Webster Highway (a stand-alone Chilis).
There is 11,302 s/f available for lease at Daniel Webster Crossing. Joel Kadis, partner of leasing and Evan Eisenhardt, leasing representative with Linear Retail will be handling the leasing at the newly acquired center.
George Kobaly of GEM Realty represented the seller of Daniel Webster Crossing. Kobaly said, "Linear Retail was a pleasure to deal with in this transaction. We are happy to pass the baton to such a strong retail operator."
Aubrey Cannuscio, partner of acquisitions with Linear Retail said, "Daniel Webster Crossing will add another quality center to our growing portfolio. We plan to make improvements to the property consistent with others in our portfolio as we seek to secure the best possible retailers for the remaining vacancy."