November 19, 2020
Newmark has prepared the sale of One Alewife Center, a 90,000-square-foot life scientific research building in Cambridge. The list prices was not disclosed. Newmark’s Boston Resources Markets Team represented the vendor, James Campbell Business, in the transaction. The buyer was IQHQ, which acquired the nearby Alewife Park, a 290,000-square-foot laboratory school, in July 2020.
One Alewife Center is surrounded by a mixed-use atmosphere consisting of corporate next-door neighbors such as Celgene, Eisai, Forrester, GSK, Kintai Therapeutics, Smithsonian and also Syros Pharmaceuticals in addition to the recently-delivered A/C Hotels by Marriott. The preoprty is in a transit-oriented location and also is in close proximity to the MBTA Red Line’s Alewife terminal.
“One Alewife Facility is an important and last piece of a broader school that consists of the nearby Alewife Park obtained by IQHQ in July,” said Matthew Pullen, executive managing director at Newmark. “Both purchases produce a large-scale remedy to sustain the life science market along the MBTA Red Line in Cambridge, the region’s most energetic life science market. One Alewife Facility and also Alewife Park integrated are 27 acres, developing an absolutely unique offering in West Cambridge.”
For comments, questions or concerns, please get in touch with David Cohen