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Boston & New England  + Industrial  | 

CC&F Acquires Cambridge Industrial Property for $50M

Boston-based real estate firm Cabot, Cabot & Forbes (CC&F) has acquired 67 Smith Place, a 66,964-square-foot industrial building in Cambridge. The sales price was $49.6 million.

The facility is currently occupied by the City of Cambridge Police Department, with space for additional tenants. The site is adjacent to CC&F’s master-planned development known as the Quad, a planned mixed-use project with 485 multifamily units, 60,000 square feet of ground-floor retail and 575,000 square feet of lab space. CC&F secured $21 million in equity for the acquisition from individual investors through commercial real estate investing platform CrowdStreet.

“Our investors responded very favorably to this industrial property offering located in the nation’s #1 Life Sciences Corridor where space remains a premium despite the pandemic,” said Darren Powderly, co-founder at CrowdStreet. “We attribute this outstanding $21.4 million online capital raise to the attractive purchase price combined with a sound business plan to be executed by one of Boston’s oldest private real estate companies.”

The seller was not disclosed.

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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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