CBRE BROKERS $28.5 MILLION SALE OF LINCOLN NORTH

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LINCOLN, MASS. — CB Richard Ellis (CBRE) has brokered the sale of Lincoln North, a three-story, Class A office building located in Lincoln, for $28.5 million. The building is situated at 55 Old Bedford Rd. and totals 128,163 square feet. Bill Moylan, Gary Lemire, Matt Pullen and Andy Majewski of CBRE’s Capital Markets Team represented the seller, IBUS Asset Management. Larry Smith of Cranberry Hill Associates represented the buyer, FFMS Lincoln North LLC, which is an affiliate of Cranberry Hill Associates. Smith is also the original developer of the property, and has continually served as property manager since its construction.

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