Lincoln Property Company advises on three commercial lease agreements

Newburyport, MA Lincoln Property Company (Lincoln) has brokered the sale of three industrial properties in Massachusetts and Florida worth $47.8 million.

“Lease sales are very attractive to industrial property owners especially in today’s tough economic environment. Many business owners have found that it is more cost-effective to monetize real estate and deploy capital in their respective businesses versus traditional financing at high interest rates,” said James Tambone, vice president in Lincoln’s Boston office.

Rhino Capital Advisors purchased 3 Perkins Way in Newburyport for $25 million. Bradford & Bigelow, one of the leading K-12 textbook, home education, and faith publishers in North America, signed a 15-year lease to remain in the 140,000 s/f facility. Lincoln vice presidents Tim Latham and Rob Cronin and vice presidents James Tambone and Chris Devaux represented the dealership in the transaction.

Tervis Tumblers closed the $15.3 million lease sale of 201 Triple Diamond Blvd., a 120,000 s/f distribution warehouse in North Venice, FL. Lincoln represented Tervis in the sale and 10-year lease agreement, and Buligo Capital acquired the property. Lincoln’s Latham, Tambone and Devaux represented the seller in the transaction.

CBM Industries closed an 8-year sales lease for their 34,400 s/f flex/manufacturing facility at 470 Constitution Blvd. in Taunton, Mass. The privately held company provides contract manufacturing to clients in the robotics, biotechnology, automation, diagnostics and semiconductor industries. Shearwater Companies acquired the property for $7.5 million. Lincoln’s Latham, Tambone and Devaux represented the seller in the transaction.

“Our team takes a holistic approach to advising existing clients and provides alternative and innovative solutions that can help a core business achieve its core goals. From improving the balance sheet, financing future acquisitions and growth plans or succession planning, sales leasing is a source of liquidity,” said Latham. “Lincoln’s Consulting and Business Solutions platform offers integrated services with geographic reach and effective execution.”