The master developer for large swaths of Boston’s Seaport District is now the owner of a local chain of stationary and specialty gift retailers.

WS Development has agreed to buy Acton-based The Paper Store. The Paper Store began pursuing Chapter 11 bankruptcy in July after it had to close its 86 stores due to the COVID-19 pandemic, tanking sales. The sale will allow it to exit the proceedings, the company said.

The number of Paper Store locations located in WS properties was not immediately available.

“The Paper Store could not have successfully navigated this process without the support of our dedicated, hardworking, and motivated staff, as well as principals of WS Development who made a meaningful commitment to our future and have allowed for our family-run business to continue serving our communities,” President and CEO Tom Anderson said in a statement. “We also cannot express enough appreciation for our beloved customers – they have stuck by us for years and continued to do so during these uncertain times.”

WS Development owns, manages and leases a portfolio of over 95 properties totaling more than 27 million square feet nation-wide. It is also currently building the latest phase of its 12.5-acre Seaport Square development in Boston’s Seaport district.

The move by the retail landlord echoes similar moves by mall giant Simon Properties to buy stores like Brooks Brothers, which form core members of its tenant base.