Lincoln, RI On behalf of Highlands REIT, JLL’s Retail Capital Markets team completed the sale of Lincoln Commons for $55.75 million to Acadia Strategic Opportunity Fund V, a fund managed by Acadia Realty Trust.
JLL executive vice president, Nat Heald said, “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 s/f grocery-anchored open-air shopping center featuring national tenants, including a high-volume Stop & Shop, Target (shadow anchor), Marshalls and HomeGoods. Eight miles from downtown Providence, Lincoln Commons is located at the I-295/Rte. 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.
Heald and managing director Chris Angelone led the JLL team on the transaction.