Linear Retail Properties said it has bought two Boston retail properties, one on Congress Street in the city’s Fort Point neighborhood, the other on Newbury Street.
A Burlington-based real estate firm, Linear Retail said it has purchased retail locations on the lower levels of 346-354 Congress St. for $4.8 million.
The upper levels of the seven-story building have been redeveloped into luxury condos by Berkeley Investments Inc., a Boston-based real estate investment and development company.
The retail space that Linear just bought is fully leased to two tenants, Barrington Coffee Roasting Co. and Barbara Lynch Gruppo. Celebrity chef Barbara Lynch occupies 14,286 square feet of space there and operates three separate restaurants — Menton, Sportello, and Drink, Linear Retail said.
Boston Urban Partners brokered the transaction, representing the seller, 346 Congress Street LLC, and procuring Linear Retail as the buyer.
Linear Retail has also been adding to its Boston portfolio with a purchase in the Back Bay.
The firm said it has bought 2,865 square feet of retail space, including the garden and first-floor levels at 304 Newbury St. The purchase price was $2.25 million.
The property is a five-story brownstone building located between Gloucester and Hereford streets. The first-floor is occupied by a UPS Store; the garden-level is currently available for lease.
Linear Retail said it worked with Boston Real Estate Collaborative LLC, which simultaneously purchased the upper three floors. Those floors are occupied by residential apartments.
With the two purchases, Linear Retail said it now owns 11 properties in the city of Boston. Regionwide, the firm owns 60 retail properties.