Lincoln office building is sold for $28.5 million

An affiliate of Cranberry Hill Associates has purchased Lincoln North, a three-story office building in Lincoln (pictured above) with nearly 130,000 square feet of space, for $28.5 million, said a broker involved in the transaction.

The broker is CB Richard Ellis Group Inc., a commercial real estate firm.

According to its website, Cranberry Hill Associates specializes in commercial real estate development, commercial brokerage, and property management services. The firm is headquartered in Lincoln.

The seller was IBUS Asset Management, a developer and real estate investment firm with offices in the Netherlands.
(By Chris Reidy, Globe staff)