BOSTON–On behalf of Highlands REIT, JLL’s Retail Capital Markets team announced the sale of Lincoln Commons for $55.7 million to Acadia Strategic Opportunity Fund V, a fund managed by Acadia Realty Trust.
As stated by JLL Executive Vice President, Nat Heald: “we were very pleased to play a role in this significant transaction. Lincoln Commons is a well-established shopping center with thriving tenants, it was a pleasure working with both the buyer and seller towards a successful closing.”
Lincoln Commons is a 578,790 SF grocery-anchored open-air shopping center featuring a strong lineup of national tenants, including a high-volume Stop & Shop, Target (shadow anchor), Marshalls and HomeGoods.
Just 8 miles from downtown Providence, Lincoln Commons is located at the heavily traveled I-295/Route 146 intersection. A variety of established food and entertainment tenants (including the region’s only cinema and entertainment center) generates steady traffic to the property throughout the day.
Executive Vice President Nat Heald and Managing Director Chris Angelone led the JLL team on the transaction.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2018 alone, the firm’s 2,400 Capital Markets specialists completed $179 billion in investment sale and debt and equity transactions globally.
