William J. Beckeman, president and CEO of Linear Retail tells GlobeSt.com that the Burlington, MA-based firm targeted the fully leased 356 Lafayette Rd. for acquisition shortly after it went on the market. The firm moved quickly to finalize a deal with seller Joseph Lorusso II, whose father built the strip mall in the 1960s. "We got a quick look at it and knew it was right and jumped on it immediately," says Beckeman. "We think it has outstanding potential."
The plaza, which is anchored by a Brooks Pharmacy, is the company's smallest acquisition and its second New Hampshire property since Linear Retail was formed in late 2003. The firm owns 13 other small to mid-sized plazas in Massachusetts and Rhode Island. Beckeman says the group is working to acquire other shopping centers throughout the three-state area.
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