BURLINGTON, Mass. – Linear Retail Properties says it has bought Smithfield Commons, a 35,130-square-foot shopping center at the intersection of Routes 44 and 5 in Smithfield, for $7.96 million. It is the company’s second acquisition in the state in the last year, following its April purchase of 1000 Bald Hill Rd. in Warwick for $6.8 million.
Smithfield Commons is anchored by Brooks Maxi Drug and also includes Sovereign Bank, Papa Gino’s, The UPS Store, Urgent Medical Care and some local merchants. Providence-based Hayes & Sherry marketed the property for owner Smithfield Commons Associates.
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“Smithfield Commons is a great addition to our rapidly growing portfolio,” said Aubrey
Cannuscio, senior vice president and partner of Linear Retail. The company’s interests vary, she said, but “we would love to have another dozen properties just like Smithfield Commons.”
Linear is a retail real-estate acquisition and operating company launched by William J. Beckeman in 2003 in partnership with Principal Enterprise Capital. It focuses on the acquisition, operation, and repositioning of convenience-oriented retail properties in Eastern
Massachusetts, Southern New Hampshire and Rhode Island. Since its formation, it has bought 12 shopping centers in separate deals for about $80 million.
