This 100-year-old lumber yard and industrial supply business occupied 16.4 acres of prime real estate in the center of Wellesley, MA – a prominent Boston suburb. Eastern purchased this off-market property through a complex reverse merger transaction, minimizing the tax liability for the seller and protecting the interests of all parties involved.
Eastern envisioned a shopping and lifestyle hub that would serve the residents of one of the nation’s most affluent suburbs.
Today, Linden Square – anchored by Roche Brothers supermarket, CVS, Sweetgreen and many more – is the retail hub of the Wellesley community. In 2006, Eastern sold the project to Federal Realty, generating more than $79 million of value. In an additional phase, a 5.4-acre multi-family portion of the site was sold for $26 million in 2013.