270 Amherst St.
Linear Retail Acquires 9th Nashua Property
Linear Retail Properties, LLC announced today that it has acquired 270 Amherst Street – a 39,750 SF shopping center located on Route 101A, in Nashua, NH. The purchase price was $10.1 million.
270 Amherst Street is comprised of two buildings: a 35,356 SF main building and a 4,394 SF pad building. The center is located at a signalized intersection along Nashua’s Amherst Street retail corridor, 1/4 mile west of Route 3. Tenants include Aldi, Domino’s, Pet Supplies Plus, Simit Café, Supercuts, and Verizon. There are currently three retail spaces available for lease ranging from 1,394 SF to 2,144 SF. The property is represented by Bryan Wright and Christian Janelle of SRS Real Estate Partners.
Linear Retail also owns Amherst Street Village, located at 550 Amherst Street, currently leased to California Burritos, Charles Schwab, Cover Nails, Crumbl Cookies, Elements Massage, Fantastic Sams, OakCraft Pizza, PetSmart, and Walgreens.
Additionally, Linear owns 7 properties along the Daniel Webster Highway retail corridor. Properties include: Daniel Webster Plaza (Cassandra Salon & Spa, Chipotle, Fidelity, Gentle Dental, La-Z-Boy, LensCrafters, Lumber Liquidators, Not Your Average Joe’s, Starbucks, and TD Bank), Daniel Webster Shops (Panda Express, The Good Feet Store, The Joint Chiropractic, and Xfinity), Daniel Webster Crossing (Brothers Butcher, Namco Pools, Panera Bread, Pro Nails, and Title Boxing), Chili’s Grill & Bar, Uno Pizzeria & Grill, Barnes & Noble, and 232 Daniel Webster Highway (Chase Bank and Old Navy).
Justin Smith, Head of Capital Markets at Atlantic Capital Partners represented the seller in the transaction and commented, “We had significant investor interest in 270 Amherst Street due to its strong tenant mix and prominent location along Amherst Street near Route 3. Linear Retail closed at the terms presented in their offer and they were a pleasure to work with.”
Aubrey Cannuscio, Co-CEO of Linear Retail commented, “Linear Retail has strong conviction in the City of Nashua and its retail markets. We believe the acquisition of 270 Amherst Street fits nicely in our portfolio of high-quality, small format retail properties. We continue to seek to acquire similar high-quality retail properties within our territory of eastern Massachusetts, southern New Hampshire, and Rhode Island.”