In Wakefield, Massachusetts, The Edge, a 962,000-square-foot office campus, was acquired jointly by Lincoln Property Company and J.P. Morgan-advised investors, marking one of the suburban Boston market’s largest recent office transactions.

The purchase price for The Edge was about $61 million, roughly $63 per square foot, reflecting a standout urban-suburban valuation dynamic.

Separately, a Billerica project is expected to add modern distribution space along the Route 3 corridor, giving occupiers new options when delivered.

Industry signals point to stronger deal flow in the Boston CRE market, with ownership changes opening opportunities for lease extensions and renegotiations while lenders remain active in industrial development.

Lincoln Property’s expansion continues in urban markets, following plans for The Arc at the Ion District in Houston, anchored by Rice University and targeting flexible office and life sciences space.

At 230 Congress St. in Boston’s Financial District, the implied price of around $215 per square foot underscores current urban office valuations versus pre-2020 levels.

Notable tenants at these properties include Arbella Insurance, Epsilon, and Eastern Bank, with Eastern Bank reportedly signing for 52,000 square feet roughly two years before the sale.

Seller Hobbs Brook Real Estate assembled and developed the Edge campus between 2001 and 2011, with Newmark advising on the sale.

The Wakefield campus sits along the Route 128 technology corridor, attracting life sciences and professional services tenants, where ownership changes prompt immediate lease and operating-cost reviews for tenants.

The seven-building Edge campus spans 962,000 square feet and sits about 12 miles north of Downtown Boston, on the former Pleasure Island amusement site.

Time Equities, Inc. closed on 230 Congress St. for $32.5 million, acquiring a 151,163-square-foot Art Deco building and signaling TEI’s entry into Boston’s market expansion.

Lincoln Property described The Edge as having scalable footprint with add-value potential, while Hobbs Brook had pursued capital improvements at 601 and 701 Edgewater Drive in 2024.