Newton, MA Linear Retail Properties, LLC, has acquired three retail properties in Newton Highlands including 1197-1203 Walnut St., 1637 Centre St. and 1193 Walnut St., as well as one property in Newtonville located at 309-321 Walnut St.
The purchase price for the four property portfolio was $11.2 million. Linear Retail was represented by Tom Godino, president of Godino & Company, Inc. Godino said, “This is the third transaction that I have closed with Linear Retail. Linear presented the long-time owner with an unsolicited offer based
upon limited information and they were able to close at an aggressive price. It was a pleasure working with the Linear team.”
The Newton Highlands property is a five tenant, 9,850 s/f building including 1637 Centre St. – a freestanding, 2,500 s/f building and 1193 Walnut St. – a three-story, commercial building totaling 5,050 s/f. The property includes a dedicated 62 space parking lot and is within walking distance to the Newton Highlands Green Line MBTA “T” stop, is 600 feet from Rte. 9 and 1.5 miles from Rte. 128. The Newtonville property is a 5,860 s/f city block leased to five tenants and is located near the Mass Pike and a quarter mile from the Newtonville commuter rail station. One 1,245 s/f unit is currently available for lease.
Aubrey Cannuscio, partner – acquisitions of Linear Retail said, “Newton is high on our list of desirable markets we want to invest in. We love the demographics and visibility of these two sites.”