In The News | Linear Retail

21 Aug 2014

Linear Retail Hires Eric Banks as Portfolio Controller

(Eric-Banks-Linear-RetialBurlington, MA; 08/21/2014)- Linear Retail Properties, LLC announced today its recent hire of Eric Banks as Portfolio Controller.

As Portfolio Controller he supervises the property accounting and financial reporting processes. He also provides oversight of Linear’s internal control and audit functions.

Eric has been a real estate accountant for over 10 years. He is experienced in many facets of property and corporate accounting. He is also proficient in accounting for business operations and construction projects. Prior to joining Linear Retail, Eric spent 8 years working for REIT Management & Research, LLC (RMR) in Newton, MA. RMR provides real estate services and business management to several publicly traded REITs and real estate operating companies.

Eric is a Certified Public Accountant in the State of Massachusetts. He has a Master of Science in Accounting from The University of Massachusetts Boston and a Bachelor of Arts in Economics from the University of Massachusetts Amherst.

29 Jul 2014

Linear Acquires Retail Space In Millennium Place

Millennium place downtown crossing boston retailBanker & Tradesman (7/29/2014) – Burlington-based Linear Retail Properties has acquired 558-580 Washington St., a retail condominium on the ground floor of the Millennium Place residential building in Boston’s Downtown Crossing.

The sales price was $7.2 million, according to Suffolk Registry of Deeds records.

The property is divided into three retail spaces, two of which are occupied by Legal Crossing restaurant and Caffe Nero. The third 1,600-square-foot storefront is available for lease.

“We are thrilled to have purchased this great retail condo in the groundbreaking new Millennium Place development, expanding our interest in the resurgence of Downtown Crossing,” Aubrey Cannuscio, partner of acquisitions for Linear Retail, said in a statement.

14 Jul 2014

Boston Jewelry Store Leases On Charles Street

Persona Jewelry 62 Charles St. BostonBanker & Tradesman (7/14/2014)- Persona Jewelry+ will open up shop on Charles Street in Boston’s Beacon Hill neighborhood.

Persona has leased 1,500 square feet at 62 Charles St. and plans to open this fall. It will be located next to Peet’s Coffee & Tea, which is scheduled to open before the end of the year.

Persona Jewelry+ is a local, luxury, lifestyle jewelry company co-owned by Margarita Druker and Gary Shteyman. Druker and Shteyman started the brand ten years ago and currently operate in Boston’s Back Bay.

17 Jun 2014

HFF Secures $50.6m Refinancing for Six-Property Retail Portfolio

HFF Linear Retail LoanBoston Globe (6/17/2014)- The commercial real estate services firm HFF said that it has secured a $50.6 million refinancing for a six-property retail portfolio that includes Burlington Marketplace, Peabody Gardens, Flint Village Plaza in Fall River, 345 Main Street in Reading, and 1 Carlisle Road in Westford.

Working on behalf of Linear Retail Properties, a Burlington-based owner, developer, and acquirer of retail properties, HFF said it placed the fixed-rate loan with Allianz Real Estate of America, LLC. Loan proceeds will be used to pay off existing debt.

7 May 2014

Linear Doubles Down On Framingham CRE

Margaritas Restaurant Framingham MAThe Real Reporter; Framingham — Mere months after fulfilling a decade-long goal to invest in this Metro-West shopping haven, Linear Retail Properties has landed its second Framingham asset, paying $3.17 million for 725 Cochituate Rd., a standalone 8,025-sf building net leased to Margarita’s Restaurant. Situated at the signalized intersection of Cochituate Road and Speen Street, the 1.3-acre parcel had been held by Generazio Realty Trust since June 1957.

Burlington-based Linear was founded in 2003 by William J. Beckeman in a $300 million partnership with Principal Real Estate Investors to pursue “convenience-oriented retail” throughout New England, with a concentration in top markets including Boston’s Newbury Street, Burlington and Nashua, NH. When the firm paid $2.4 million last December for 140-142 Worcester Rd. in Framingham, Director of Acquisitions Aubrey Cannuscio recounted how his firm’s goal “since Day One”

23 Apr 2014

Linear Retail Closes on $8.24M in Loans for NH Properties
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Needham Bank Financing Linear Retailcitybizlist – Linear Retail Properties, LLC, announced today that it recently refinanced two New Hampshire properties in Salem and Manchester with Needham Bank.

Salem Village was acquired by Linear Retail in January of 2007 and was subsequently repositioned with new retailers. Key tenants include: Pet Life, Sherwin-Williams and AutoZone. The 27,353 sf center is located at the signalized intersection of S. Broadway/Route 28 and Pond Street, just 300 yards from the MA border. The fully-leased 9,870 sf Manchester Shopping Center was acquired by Linear Retail in April of 2012. The center was renovated in 2013 with a new façade and signage. Current tenants include: Chipotle, Sleepy’s US Cellular, and Hannoush Jewelers. Manchester Shopping Center is located in the primary retail destination corridor in the Manchester area just ½ mile north of the Mall of New Hampshire on S. Willow St. (Route 28).

“I am delighted that Linear Retail, a leader in their industry, chose Needham Bank as their financial partner,” stated Patrick Lee, Senior Vice President. “We look forward to deepening our relationship with Linear and continuing to provide them with outstanding customer service and timely execution that is made possible by our knowledgeable and experienced lending team.”

21 Mar 2014

Updates at Linear: New Acquisitions Analyst, Podaski Makes VP, Drocz Moves To Asset Management

Jared Jammal, Diana Podaski, Greg Drocz(Burlington, MA; 3/21/2014) – Jared Jammal joined Linear Retail as an Analyst in the Acquisitions Department. He is responsible for supporting the Head of Acquisitions as well as working with the Asset Management and Leasing teams. In his role, Jared is responsible for modeling, analyzing and supporting various acquisitions activities.

Prior to joining Linear, Jared worked for Admirals Bank, a federally chartered savings bank located in Boston. While at Admirals, Jared first worked in the Real Estate Department valuing various types of commercial real estate as collateral on purchased loans from markets across the country.

7 Mar 2014

Southern New Hampshire retail market: Ready to roll if this winter ever ends

20130327_NashuaRendering-low-resNEREJ – There seems to be a good feeling that once this winter comes to an end there will be a fair amount of retail activity at least if not better than last year. Overall all the indicators point to an economy that is slowly gaining momentum and consumer confidence the crucial ingredient beginning to thaw. Just the other day it was reported that consumer debt is the highest it’s been in recent years.

That being said there is still a lot of turbulence in retail-some stores are adding units-others are closing. Online sales continue to impact brick & mortar stores. Some regions of the country are experience growth-others not so much. New England is usually the last to get new concepts but there are differences in CT-MA-NH & Maine in many categories. Boston and surrounding high density & income towns such as Burlington are prospering and seeing a lot of new development. For the first time in years I can finally say Southern NH is too.

25 Feb 2014

Linear Signs Two Retailers to Leases in Nashua
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225 Daniel Webster Highway Nashua NHcitybizlist – Not Your Average Joe’s and Starbucks have signed leases at Linear Retail Properties’ Daniel Webster Plaza at 225 Daniel Webster Highway in Nashua, NH.

Not Your Average Joe’s and Starbucks together will take the entire 9,000 SF pad currently occupied by Pier 1 Imports. The pad is located in the middle of the Spitbrook Rd/ Daniel Webster Highway retail block and is adjacent to Barnes & Noble.

Linear Retail’s new 12,000 SF retail development, Daniel Webster Shops, is adjacent to the site to the north and the Shaw’s, Petsmart, Sports Authority, Marshalls power center is directly adjacent to the site to the west.

12 Feb 2014

Linear Launches Responsive Website
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(Burlington, MA; 2/12/2014)- Linear Retail announced today that it has launched a new responsive design website. The new design creates a better user experience and increases average visit duration by automatically adapting to various devices including PC, mobile phones, and tablets.

Diana Podaski, Linear Retail’s VP of Marketing & Social Media commented, “It’s hard to keep up with technology but watching our mobile phone traffic triple and tablet traffic double in 2013 compared to the year before, moving to a responsive design was imperative. We want to be sure that mobile visitors are getting as good of an experience as those visiting from a PC.”