LINCOLN – A 44,590-square-foot office building at 701 George Washington Highway in Lincoln recently sold for $7.1 million, according to Newmark Group Inc., the commercial real estate firm that represented the buyer.
Newmark Group said FH French, a Rhode Island-based group that is affiliated with Blackstone Management Inc., sold the property to Legacy Capital Ventures, a recently formed Boston-based family office.
A copy of the quitclaim deed, a public record filed with the Lincoln town clerk, shows that the two companies exchanged the property through limited liability companies, with GWH Venture LLC selling the building to 701 GW HWY Legacy LLC.
The three-story building, constructed in 1980 and located on 5.5 acres of land, is occupied by the Lifespan Cancer Institute and engineering firm BETA Group Inc.
The property was last appraised by the town in 2022 to be worth nearly $5 million, according to public records.
Newmark Group said the building was “completely gut renovated” in 2018 and is now “like-new.”
“This transaction was a joint effort by our medical-academic and private capital groups,” said Newmark Group associate George Demoulas. “We congratulate the sellers on a successful repositioning and the buyers on an exceptional acquisition.”
Newmark Group described the 701 George Washington Highway property as “well positioned” off Route 146 and Interstate 295, with “seamless connectivity to Lifespan’s flagship hospitals” in Providence.
Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.
