"This is a good deal for us," says Linear SVP Aubrey Cannuscio,whose firm scooped up the 20-year-old center soon after ownerAnthony Gargiulo put it on the market through broker Thomas Godinoof Godino & Co. Besides the traffic count, which increasessubstantially in the summer, Linear was impressed by the property'ssolid leasing history, explains Cannuscio. Just 1,100 sf ispresently un-let. Among the 19 occupants are a Hollywood Video,5,700-sf liquor store and a UPS outlet. The largest is the 6,200-sf400 East Restaurant, one of the community's most popular eateries."It's right up our alley," Cannuscio says of the complex.

Harwich East even features professional services such asphysicians, and has a 5,000-sf office component on a second level.Demographics are solid, Cannuscio says, and are improving thanks toan increasing number of people opting to live year-round in thearea. The numbers are especially encouraging, he says, given CapeCod's historic reluctance to allow commercial development. Thereare very few centers above 10,000 sf, says Cannuscio, let alone anassemblage the size of Harwich East. The investor is alreadyestablished on Cape Cod, owning Bourne Bridge Crossing in Bourneand a 60,000-sf asset in Yarmouth.

Linear acquired $72 million of product in 2007, propelling its$300 million investment fund with capital partner PrincipalFinancial Group past the $200 million level after purchasing a48,000-sf center in Nashua, NH for $9.7 million. That milestone wasreported last week by GlobeSt.com in its January 2nd edition. Thefund concentrates on so-called "convenience-oriented retail," oftenmoderate-sized, well-located properties serving strong populationcenters.