Reporting Anthony Silva
BOSTON (CBS) – A Burlington real estate company is paying close to $5 million for a 5,000 square foot retail condominium in the Back Bay.
Linear Retail Properties is purchasing the ground level at 727 Boylston Street. Pizzeria Uno has occupied that space since 1979.
WBZ NewsRadio 1030′s Anthony Silva reports
Aubrey Cannuscio, Director of Acquisitions at Linear Retail, says the price being paid is pretty common for a property like this. He tells me the highest end of the market in Boston has performed exceptionally well, despite the downturn in the rest of the commercial real estate market. Cannuscio says Boston is at the top of most institutional investors’ list of where to send money.
Linear Retail Properties isn’t done yet. Cannuscio says the firm is actively pursuing other commercial properties in the Boston area.