CushWake Retained to Sell Lesley University Portfolio of Historic Buildings
Cushman & Wakefield’s Multi-Family Advisory Group has been retained to market a Lesley University-owned portfolio of 10 historic buildings located between Harvard Square and Porter Square in Cambridge, MA.
Totaling nearly 85,000 square feet, the properties are located at 7, 9, 11, 13 and 17-21 Mellen Street; 6 Sacramento Street; 1627 Massachusetts Avenue; and 815 Somerville Avenue.
Lesley University plans to make major investments in its three Cambridge campuses to transform its learning environment and public spaces. As part of its plan, Lesley announced its intention to sell buildings which were no longer suited to its programmatic needs.
“Institutionally owned and maintained, this portfolio presents immense value-add potential through the lease-up of vacant commercial space, the potential redevelopment to multi-family residential and condominium conversions and the potential for new ground-up residential construction, among other options and strategies,” said Cushman & Wakefield’s Chris Sower.
- ◦Sale/Acquisition