Linear Retail Properties has received a $5.8 million loan for the purchase of Blackstone Place in Pawtucket, RI. The retail center located at 727 East Avenue features two buildings with ten retail spaces totaling 37,470 sqf of space. Trading for just under $155 per sqf, the center is fully-leased, with Rite Aid as the anchor tenant. Financing for the acquisition was provided by Washington Trust’s Commercial Real Estate Group. Based in Burlington, MA., Linear Retail Properties owns and operates over 80 properties throughout eastern MA, southern NH and Rhode Island.
“This extremely vibrant neighborhood plaza fits well with Linear Retail’s acquisition strategy and we are happy to expand our relationship assisting with this purchase,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “The tenant mix of restaurants, necessity retail and convenience result in a well-trafficked destination for the neighborhood.”
