Dan Gardner of CRG Commercial and Rob Kinlin of CBRE sold 500 and 510 Lincoln St. Kinlin represented the seller, Lincoln Street, LP and Gardner represented the buyer, Target Logistics. The sale price was $2.78 million.
Target Logistics is located nearby at 46 Leo Birmingham Pkwy., and has reached capacity at that location, due to business they needed to double their space, and 500/510 Lincoln St. was the opportunity. Target Logistics provides turnkey remote workforce housing throughout the United States.
Target Logistics plans to occupy 500 Lincoln St., and will be marketing 510 Lincoln St. in the upcoming months. 510 Lincoln St. is an 8,000 s/f free standing industrial building.
According to Gardner, the Allston/Brighton office supply is starting to decrease as more developments come online in the marketplace, i.e. New Balance and Western Ave. which are located close to 500/510 Lincoln St. The buyer has plans to redevelop 500 and 510 Lincoln which will affect the landscape in a positive way.