Linear Retail Properties LLC has purchased the 24,462-square-foot Chelmsford Plaza on Drum Hill Road in Chelmsford.

The property was purchased for $6.77 million, according to a statement. Chelmsford Plaza represents Linear Retail’s 55th retail property acquisition in New England since the company was founded in 2003.

"We have been interested in Chelmsford Plaza for years and are happy that we were able to entice the Katz family to sell," said Aubrey Cannuscio, partner, acquisitions. "We are hoping to purchase at least one more property by year-end and look forward to making many more acquisitions in 2011."

The property was developed in the late 1960s by the Katz family, a local developer and investor, according to a statement.

"Linear Retail’s ability to close quickly to meet our deadline was a key factor in our decision to sell," said Eric Katz. "They did what they said they would do and showed us why Linear has been such a successful buyer."

Tenants of Chelmsford Plaza include Starbucks, Sherwin Williams, AT&T Wireless, UPS Store, Little Caesars Pizza, Supercuts, Plaster Fun Time, Garlic Bistro, Get In Shape for Women, H&R Block and Drum Hill Dental Care.