Clay Duvall Of Lincoln Property Company Acquires 401 Edgewater Drive Office Campus For $61M

The property asset involved in this transaction is The Edge office campus located at 401 Edgewater Drive, Lynnfield, MA. The transaction was completed for a sale price of $61,000,000, with a total square footage of 962,000, resulting in a price per square foot of $63.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $61,000,000
• Address: 401 Edgewater Drive
• Market: Lynnfield, MA
• Buyer: Clay Duvall - Lincoln Property Company
• Seller: Peter Gottlieb - Hobbs Brook Real Estate
• Brokers: Robert Griffin, Edward Maher, James Tribble & William Sleeper - Newmark
• Square Footage: 962,000
• Price per Square Foot: $63

This transaction was facilitated by Lincoln Property Company, which, alongside investors advised by J.P. Morgan Asset Management, acquired the office campus from Hobbs Brook Real Estate, with intentions to reposition the 100-acre property into a mixed-use live-work-play destination.