Lincoln Property Company, in partnership with investors advised by J.P. Morgan Asset Management, today announced the closing of The Edge, a 962,000-square-foot office campus in Wakefield, MA, north of Boston. The seller was Hobbs Brook Real Estate.
At one time the site of an amusement park, The Edge is a seven-building campus offering a scalable footprint with significant value-add and mixed-use redevelopment potential. Lincoln and its partner plan to execute a strategic repositioning program designed to enhance long-term competitiveness and create a dynamic live-work-play environment.
“The Edge represents a compelling opportunity to acquire a large-scale campus in a fundamentally strong suburban market,” said Scott Faber, SVP at Lincoln Property Company in Boston. “The Edge opportunity compliments Lincoln’s recent office campus investments in urban adjacent neighborhoods within proximity to Boston.”
A Newmark team of Rob Griffin, Edward C. Maher, Jr., Jim Tribble, Samantha Hallowell and Will Sleeper represented Hobbs Brook. Terms of the sale were not disclosed.
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