Photo courtesy JLL

Boston-based Bulfinch Cos. plans to convert a retail property near Harvard Square to office, biotech or medical space following a recent $5 million acquisition.

The 7,200-square-foot building at 1120 Massachusetts Ave. was sold by a private entity advised by Ella Properties of Cambridge. JLL’s Kellie Coveney and Mike Restivo represented the sellers.

The acquisition is the latest for Bulfinch Cos. in Cambridge, which recently completed Building 400-500 at its 800,000-square-foot Cambridge Discovery Park campus in Alewife, and partnered with Harrison Street Capital on the acquisition of Massachusetts Institute of Technology’s Osborn Triangle campus.