BOSTON— Lincoln Property Company, in partnership with investors advised by J.P. Morgan Asset Management, has completed the acquisition of The Edge, a 962,000-square-foot office campus in Wakefield, Massachusetts, as part of a long-term strategy to reposition the property into a mixed-use destination.
The seven-building campus spans approximately 100 acres in one of Greater Boston’s established suburban office markets, just north of the city. Financial terms of the transaction were not disclosed.
Lincoln Property Company said it plans to undertake a value-add repositioning program designed to modernize the campus and expand its appeal by creating a live-work-play environment that can adapt to evolving workplace and lifestyle trends.
“The Edge represents a compelling opportunity to acquire a large-scale campus in a fundamentally strong suburban market,” said Scott Faber, senior vice president at Lincoln Property Company in Boston. “The Edge opportunity complements Lincoln’s recent office campus investments in urban-adjacent neighborhoods within close proximity to Boston.”
Located adjacent to the MarketStreet Lynnfield retail center, The Edge offers tenants access to shopping, restaurants and other amenities. The property currently features fitness centers, full-service cafés, electric vehicle charging stations and outdoor gathering spaces, with additional campus programming planned as part of the redevelopment strategy.
The campus also has a distinctive history. Before becoming an office park, the site was home to Pleasure Island, a popular amusement park that operated until 1969. Today, the property borders Reedy Meadow, a 540-acre conservation marshland that includes a 1.3-mile walking trail and hosts year-round community events.
Lincoln said the property’s scale and multi-building layout provide flexibility for future redevelopment and support a broader mix of office, lifestyle and complementary uses over time. The company views the acquisition as part of its continued investment strategy in suburban Boston markets with long-term growth potential.
The acquisition comes as commercial real estate owners continue to explore new uses for large office campuses in response to shifting workplace preferences and demand for mixed-use environments that combine office space with retail, recreation and community amenities.
Lincoln Property Company is a global real estate firm with investment, development and property management operations across multiple asset classes. J.P. Morgan Asset Management invests in real estate on behalf of institutional and private investors worldwide.
