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Needham Retail Block Sells After 55-Plus Years of Family Ownership
Linear Retail Properties, LLC recently acquired Needham Center Shoppes in Needham, MA. The fully leased, single-story 11,330-square-foot store block is located at 113-133 Chapel St. & 1013-1019 Great Plain Ave. The purchase price was $7 million.
The retail store block had been owned and operated by the Heffernan family since 1970. It was originally purchased by Michael Heffernan, and was managed by him and his daughter, Betsy Heffernan, for 30 years.
Needham Center Shoppes is located approximately 10 miles southwest of Downtown Boston in the affluent community of Needham. The retail store block is located in Needham Center, prominently across from the Needham Center town common and directly adjacent to a 98-space municipal parking lot. The Needham MBTA train station is also situated behind the property.
Current tenants include Needham Center Fine Wines, Citizens Bank, Gari’s Japanese Fusion Bistro, Bagel’s Best, Kumon and Beauty Muse. Leasing will be handled by Linear Retail’s Adriana Major.
- ◦Sale/Acquisition
