Lincoln Property Company Advises Corporate Users in Three (3) Sale Leaseback Transactions with Aggregate Value of $47.8 Million

BOSTON, April 11, 2024 – Lincoln Property Company (“Lincoln”) has successfully brokered three (3) industrial sale leasebacks in Massachusetts and Florida.

“Sale leasebacks are very attractive for owners of industrial assets especially in today’s challenging economic environment. Many corporate owners have found it more cost effective to monetize their real estate and deploy the capital back into their respective businesses vs. traditional financing at high interest rates,” said James Tambone, Vice President at Lincoln’s Boston office.

• Rhino Capital Advisors acquired 3 Perkins Way in Newburyport for $25 million. Bradford & Bigelow, one of the top book printers for K-12, homeschooling, and faith-based publishers in North America, signed a 15-year lease to remain at the 140,000 square foot facility. Lincoln Senior Vice Presidents Tim Latham and Rob Cronin and Vice Presidents James Tambone and Chris Devaux represented the seller in the transaction.
• Tervis Tumblers closed on a $15.3 million sale leaseback of 201 Triple Diamond Boulevard, a 120,00 square foot distribution warehouse in North Venice, Florida. Lincoln represented Tervis in the sale and 10-year lease agreement, and Buligo Capital acquired the asset. Lincoln’s Tim Latham, James Tambone and Chris Devaux represented the seller in the transaction.
• CBM Industries closed on an 8-year sale leaseback of their 34,400 square foot flex/manufacturing facility at 470 Constitution Boulevard in Taunton, MA. The privately held company provides contract manufacturing for clients in the robotics, biotech, automation, diagnostics, and semiconductor sectors. Shearwater Companies acquired the property for $7.5 million. Lincoln’s Tim Latham, James Tambone and Chris Devaux represented the seller in the transaction.

“Our team takes a holistic approach to advising owner-occupier clients and provides alternative and creative capital solutions that can help the underlying business achieve its core objectives. From improving the balance sheet, financing future acquisitions and growth initiatives or succession planning, sale leasebacks are a compelling liquidity source,” said Tim Latham, Senior Vice President, CCIM/MBA. “Lincoln’s Corporate Advisory and Solutions platform offers integrated services and geographic reach with superior execution.”

About Lincoln Property Company

Lincoln Property Company (“Lincoln”) is one of the largest diversified real estate services companies with 35 offices across the United States the United Kingdom and Europe. Offering a comprehensive suite of real estate solutions, Lincoln manages, leases, develops, and provides advisory services to owners and occupiers of office, life science, retail, industrial, data center, production studio, and mixed-used properties. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes approximately 500 million square feet of commercial space. In addition to providing third party real estate services, Lincoln, which was founded in 1965, has principally acquired and developed more than $24 billion and 62 million square feet of commercial projects since 2018. For more information, visit: www.lpc.com.