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Wednesday, November 19, 2008 Office
FFMS Lincoln North, LLC, an affiliate of Cranberry Hill Associates, has purchased the Lincoln North office building in the Boston suburb of Lincoln, Mass., for $28.5 million from IBUS Asset Management. Bill Moylan, Gary Lemire, Matt Pullen and Andy Majewski of CB Richard Ellis represented the seller while Cranberry's Larry Smith handled the negotiations in-house. Lincoln North is located at 55 Old Bedford Rd. and current tenants include Avidyne Corp., Palladium Group and U.S. Boston Capital Corp. The building was originally developed by Smith, president of Cranberry Hill. Smith has also served as property manager for the building. Moylan is an executive vice president and partner with CBRE New England. He was one of the company's top 10 producers from 2002 to 2004 and was honored with the "2004 Retail Deal of the Year" award. Lemire, senior vice president and partner with CBRE New England, joined the company in 1994 where he has completed more than $1 billion in real estate transactions. He is a former account representative with Xerox Corp. and vice president of investment sales Leggatt McCall/Grubb & Ellis. Pullen specializes in the disposition of office, industrial and mixed-use investment properties in the greater Boston metropolitan area and coordinates the 15-member Capital Markets team. He was previously the director of research for CB Richard Ellis N.E. Partners L.P. The CBRE team recently brokered the $16.9 million sale of 10 Cabot Rd., a 105,675-square-foot office building in Medford. Moylan, Lemire and Pullen represented Capital Properties in the transaction. Address: 55 Old Bedford Rd., Lincoln, Mass. Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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