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November 19, 2020 Comments (0) Views: 703 Boston New England News, Metro Boston, Top Boston

Newmark Brokers Sale of 90K-SF Life Science Property in Cambridge

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Newmark has arranged the sale of One Alewife Center, a 90,000-square-foot life science property in Cambridge. The sales price was not disclosed. Newmark’s Boston Capital Markets Group represented the seller, James Campbell Company, in the transaction. The buyer was IQHQ, which acquired the adjacent Alewife Park, a 290,000-square-foot laboratory campus, in July 2020.

One Alewife Center is surrounded by a mixed-use environment including corporate neighbors such as Celgene, Eisai, Forrester, GSK, Kintai Therapeutics, Smithsonian and Syros Pharmaceuticals as well as the recently-delivered AC Hotels by Marriott. The preoprty is in a transit-oriented location and is in close proximity to the MBTA Red Line’s Alewife station.

“One Alewife Center is a critical and final piece of a broader campus that includes the adjacent Alewife Park acquired by IQHQ in July,” said Matthew Pullen, executive managing director at Newmark. “The two acquisitions create a large-scale solution to support the life science industry along the MBTA Red Line in Cambridge, the region’s most active life science market. One Alewife Center and Alewife Park combined are 27 acres, creating a truly unique offering in West Cambridge.”

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