Business Buzz: Wellesley Square properties from 1920s change hands for $12.5M; Home Decor opens in new spot; More on Jejes Coffeehouse

Our roundup of the latest Wellesley, Mass., business news:

Wellesley Square properties from 1920s change hands for $12.5M

Linear Retail Properties announced it has acquired 25-35 and 53-61 Central St.—two buildings totaling 17,000 sq. ft. in the heart of Wellesley Square for $12.25 million.

The two-story 25-35 Central St. building includes apartment and office space upstairs, and tenants such as Footstock, Laurel Grove, and Winston Flowers at street level. The one-story retail store block at 53-61 Central St., includes the likes of Cocobeet and Wellesley Toy Shop.

The Welleslyan central st
The Welleslyan at 25-35 Central St.

 

This adds to Linear’s many other properties in the Square, including 61-71 Central St., on the same side of the strip, plus the block across the way at 74-102 Central St. that includes Alta Strada, Gretta Luxe, Wellesley Books and upcoming restaurants Laughing Monk and Lockheart.

The deal for the buildings has been in the works for a couple of years, and Linear says it has added them to its portfolio because “it is a big believer in downtown Wellesley and a larger presence allows us more opportunities to serve the Wellesley community.”

The transaction also marks the end of an era for the Di Schino family, which built the properties in the 1920’s after they closed their fruit and produce store in the lower square, according to Dennis Di Schino, president of property management firm Equity Partners.

“Their first store was located in Needham Center. They demolished the existing houses on Central Street that were home to many of the first shop owners in the lower square, thus changing the character of Wellesley Square for the next 100 years and counting,” says Di Schino, the last of 13 grandchildren. “I doubt that could have happened today as those houses would be considered historic. My uncle, Larry Di Schino, opened a pharmacy where Footstock is now located in about 1930…”

The inspiration to design the Welleslyan Building at 25-35 Central St. came from buildings in Gaeta, Italy, where Di Schino’s grandfather Damiano left in 1900 at the age of 25 to come to the United States.

Central Building front for framing
The 53-61 Central St. block (photo courtesy of Dennis Di Schino)

 

Welleslyan Building looking East For Framing 2020
The Welleslyan Building (photo courtesy of Dennis Di Schino)

 

Damino G & Erminia A. DiSchino's 55th Wedding Anniversary at Caesar's Monticello Restaurant Framingham, MA June 4, 1959
The Di Schino’s built the block in the 1920’s

Di Schino thanks all of their tenants over these many years. “Without them and their vision and hard work, these buildings would not be worth the selling price. A landlord is only as successful as his tenant roster. As the leasing agent since the late 1980’s I always looked to bring product based stores to these buildings. Please, always shop Wellesley first, especially in these difficult times.”

He says adds that Linear Retail, with its adjacent properties and rear parking lot, is well positioned to improve the vitality of Wellesley Square.

Home Decor opens in new spot

Home Decor Group has opened at its new location at 266 Washington St., the former Walgreens space in Wellesley Hills. It had been at 139r Linden St.

home decor group washington st

While you may know Home Decor as “the Benjamin Moore paint store,” they’re planning to bring Farrow & Ball and Fine Paints of Europe to the Wellesley location in coming months. Benjamin Moore’s Advance for cabinets, and Scuff-X products have been hot sellers.

Home Decor’s Keith Smith tells us that the business moved for two reasons: “more space and better visibility.”

Smith says the business sells lots of pint samples, and that Benjamin Moore is switching to half pint samples to reduce cost to customers and lessen wasted paint.

Like other businesses, Home Decor has felt the supply chain pain, but has shuffled products from store to store to meet customer demand. “Taking products don’t sell great in one market and moving them to stores where they sell better” has been the plan, Smith says.

More on  Jejes Coffeehouse

Jejes Coffeehouse, which as we reported earlier plans to open at 259 Washington St., in Wellesley Hills, has received the Select Board’s approval for a common victualler license. Construction is underway, and the business hopes to open in late spring or early summer.

The business will offer coffee, tea, and desserts, including South Korean treats. Jejes will have seven seats where customers can consume their drinks and food on site, but also will offer beans to go.

Jejes has an existing location in Sharon. The Wellesley edition will be open Monday-Saturday, 7:30am-3pm.


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DATE: March 3rd, 2022
TIME: 1pm-4pm
LOCATION: Fleuri, 200 Linden St, Wellesley, MA


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