The property, which is called Linden Square at Wellesley, consists of two land parcels located astride Linden Street that Diels's says it has owned for 127 years. The site has evolved over time into a large retail area. Among its tenants are Diehl's Home Center, Roche Bros. Supermarket, Wellesley Volkswagen, and the Linden Store Delicatessen as well as several professional offices and the Linden Square Townhouses.

The project will represent the first "master-planned" redevelopment of the Diehl's property, according to the company. Diehl's says its decision to explore redevelopment opportunities was influenced by the town's 2000 Linden Street Corridor Study. The study concluded that "the Town of Wellesley and private property owners and business owners along Linden Street must anticipate changes in consumer preferences as the community grows and develops," and that "[t]he characteristics that today's consumers are looking for are attractive, pedestrian-friendly and safe environments for living, working, shopping and entertainment."

According to Sarah Murphy, president of the company, "As the largest commercial property owner on Linden Street, we carefully reviewed the Linden Street Corridor Study, and ultimately, we concluded that, although not perfect, the town's initiative, by and large, offers an exciting vision for Linden Street. We feel that the long-term interests of the property and the town are best served by a comprehensive re-evaluation of the property's use." Calls to Wellesley's planning office were not returned by deadline.

Diehl's adds that it is looking to partner with a regional or national developer "with the expertise and vision to transform Linden Square at Wellesley into a premier community retail and service center." The company emphasizes that as residents of the town, it will be seeking a partner who is "sensitive to the unique character of Wellesley, and who will work in conjunction with town planners to fulfill the high expectations of the town's residents and business owners." Diehl's has engaged Cushman & Wakefield to advise them on the project.