Lincoln Mall acquired for $55.8M

LINCOLN COMMONS was sold for $55.8 million in late June. / COURTESY GOOGLE
LINCOLN COMMONS was sold for $55.8 million in late June. / COURTESY GOOGLE

LINCOLN – The Lincoln Mall, now named Lincoln Commons, located at 622 George Washington Highway, was acquired for $55.8 million in late June, according to property records.

The seller was MB Lincoln Mall LLC; the purchaser was Lincoln Mall Owner LLC and Acadia Realty Trust, based in Rye, N.Y., Acadia also owns 650 Bald Hill Rd. in Warwick, a section of Rhode Island Mall, among 180 properties across the United States.

Lincoln Common tenants include Ocean State Job Lot, Stop & Shop, Marshalls, HomeGoods, Target, CW Lanes & Games, Cinema World and FiveBelow, among others.

The property spans 55.86 acres. It was appraised earlier this year at $35.4 million.

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Acadia Realty Trust is a publicly traded company. In the first quarter of 2019, the company reported a profit of $12.2 million, or $15 cents per diluted share. Revenue for the quarter was $74.8 million. The company claimed more than $3.3 billion in net investments in real estate through the end of the first quarter.