Lincoln Property, Stars Acquire 130,000 SF Office Park in Wellesley, Massachusetts

WELLESLEY, MASS. — A joint venture between Dallas-based Lincoln Property Co. and Chilean investment firm Stars REI has acquired Newton Wellesley Executive Office Park, a 130,000-square-foot development located on the western outskirts of Boston. The four-building property was constructed in phases between 1960 and 1989 and was 90 percent leased at the time of sale to both traditional office and medical office users. Robert Griffin, Frank Nelson, Michael Greeley and James Tribble of Newmark represented the undisclosed seller and procured the buyer in the transaction. The joint venture plans to implement a capital improvement program.