Lincoln Property Company and investors advised by J.P. Morgan Asset Management have closed on The Edge, a 962,000-square-foot office campus in Wakefield, MA, located north of Boston. The seller in the transaction was Hobbs Brook Real Estate. The parties did not disclose the sale terms.
The Edge is a seven-building office campus on a site that was formerly home to an amusement park. The property offers a large, contiguous, and scalable footprint, which the buyers view as having significant value-add and mixed-use redevelopment potential.
Lincoln Property Company and its capital partner plan to implement a strategic repositioning program at The Edge. According to the announcement, the initiative is intended to improve the campus’s long-term competitiveness and support the creation of a live-work-play environment, signaling a shift toward a more activated and amenitized setting.
Scott Faber, senior vice president with Lincoln Property Company in Boston, described the acquisition as an opportunity to secure a large suburban office campus in what he characterized as a fundamentally strong market. He added that The Edge aligns with Lincoln’s broader focus on office campus investments in urban-adjacent locations within close proximity to Boston.
Hobbs Brook Real Estate was represented in the sale by a Newmark team comprising Rob Griffin, Edward C. Maher, Jr., Jim Tribble, Samantha Hallowell, and Will Sleeper. No additional details on pricing, capitalization, or future redevelopment plans were provided.
