Thieves have stripped the lead from the roofs of eight shops in Galashiels and Melrose – including one next to Melrose Abbey.
Police say extensive damage has been caused to all the properties that were targeted.
The National Trust shop at the abbey was hit sometime on Sunday night into Monday.
And between Friday and Monday, lead flashing was stolen from the shared roof of seven properties on Channel Street in Galashiels.
Damage to the roof in Galashiels has been estimated at around £1,500.
A police spokesman commented: “Officers are currently investigating whether both incidents are linked and would urge anyone with information that can help with our investigation to contact police immediately.
“These thefts have resulted in significant damage to the respective properties’ roofs and we are keen to hear from anyone who remembers seeing any suspicious activity in either area over the past few days.
Information can be passed to Police Scotland on 101 or with anonymity to Crimestoppers on 0800 555 111.