Upcoming Stories
Boston & New England CRE News In Your Inbox .

Boston & New England   /   December 9, 2020

David Cohen
By: David Cohen

Harrison Street, Partners Sell Cambridge Life Science Portfolio for $720M

Harrison Street and partners The Bulfinch Cos. and National Real Estate Advisors have announced the sale of Cambridge Discovery Park, a three-property life science campus in Cambridge, MASS. The gross sale price was $720 million. The buyer was not disclosed.

The portfolio includes three class A life sciences buildings and two parking garages totaling approximately 620,000 square feet located at 100 CDP, 200 CDP and 400/500 CDP in the West Cambridge submarket of Boston. Harrison Street initially invested in the development of 400/500 CDP in December 2018 and in eight months leased 88% of the property prior to completion of construction. The portfolio is currently 94% leased on a combined basis.

Bulfinch will continue to serve as property manager as well as maintaining an ownership interest in the park. For Bulfinch, the transaction is a recapitalization. Harrison Street’s investments now total more than $2 billion across 3 million square feet of life sciences lab, research and innovation space.

Inside The Story
About the Author

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
Email the Author

New call-to-action
© ConnectCRE 2021 / 3900 San Fernando Road, Suite 1007, Glendale, CA 91204
Contact Us / Policies, Privacy & DisclosuresSubmit Press Release /