Lincoln Property Partnership Acquires $450M Mixed-Use Tri-State Portfolio

Lincoln Property Company, Saber-Hightower and Waterfall Asset Management have acquired a $450-million Tri-State portfolio spanning four million square feet of existing properties and prime development sites across 300 acres in New York, New Jersey and Connecticut. 

The portfolio is headlined by iPark 84 in East Fishkill, NY, a 270-acre business park comprising approximately 1.8 million square feet originally built for IBM’s flagship semiconductor manufacturing plant. The campus can accommodate more than 1.5 million square feet of additional development and is well positioned with existing infrastructure and immediately available power capacity.

Additional assets include Edgewater Harbor, in Edgewater, NJ a 262-unit waterfront mixed-use community on the Hudson River; 761 Main Avenue in Norwalk, CT, an approximately 400,000-square-foot mixed-use center featuring a Northwell Health anchored medical outpatient complex, Cannondale bicycles headquarters, a 70,0000-square-foot Club Studio gym, and pads for entitled multifamily developments; and Trilogy Lofts in Yonkers, NY, a newly developed transit-oriented multifamily community adjacent to the Tuckahoe Metro-North station.

“This acquisition is a milestone in Lincoln’s rapid growth across the Tri-State region,” said Jared Toothman, EVP and Market Leader at Lincoln. “The portfolio complements Lincoln’s robust national industrial, healthcare, and retail platforms as well as our multifamily development pipeline of over 5,000 units in the New York metro area.”