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A pair of Wellesley Square retail buildings are under new ownership for the first time in seven decades following a $17.9 million acquisition by a Burlington developer.
Linear Retail Properties acquired 61-71 Central St., totaling 17,900 square feet, from Berson-Wolfe Realty Trust. The fully occupied property includes a 60-space parking lot next to the MBTA’s Wellesley Square commuter rail station. Tenants include CVS Pharmacy, Coldwell Banker Residential Brokerage, Wasik’s Cheese Shop, J.P. Licks, Papyrus, Vision Optics and Mane & Mani.
The acquisition adds to Linear’s Wellesley Square presence, as the firm also owns a 48,000-square-foot retail property anchored by Alta Strada restaurant and Wellesley Books.
“With our increased critical mass, we expect to have greater ability as well as a greater responsibility to help maintain Wellesley Square’s vibrancy and relevance in today’s rapidly changing retail environment,” Aubrey Cannuscio, acquisitions partner at Linear Retail, said in a statement. “Fortunately, we already have many quality operators well-positioned to serve the community for many years to come.”
