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Kendall Square Life Science Trio Trades for Reported $250M
Newmark recently arranged the sale of 215 First St., 150 Second St. and 11 Hurley St., three life science assets totaling 552,343 square feet in Cambridge, MA’s Kendall Square submarket. The Boston Business Journal reported that the properties traded for $250 million in one of the region’s biggest life science deals of the past year.
Co-head of U.S. capital markets Robert Griffin and Boston capital markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble, senior managing director Samantha Hallowell and associate director William Sleeper represented the seller and procured the buyer. Although Newmark did not identify the seller or buyer, the Business Journal reported that Blackstone’s BioMed Realty acquired the properties from Alexandria Real Estate Equities.
“215 First Street, 150 Second Street and 11 Hurley Street check all of the boxes for modern life science users,” said Sleeper. “Each asset offers laboratory-ready infrastructure and high-quality interior buildouts that are conducive to a variety of tenant requirements.”
- ◦Sale/Acquisition
