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New England Development Acquires Kendall Square Office Complex for $87M

New England Development acquired the American Twine Office Park in East Cambridge for $87 million. Located at 222 Third St., the property is currently occupied by a tenant roster that includes software companies Bioraft, Concentric and Euclides Technologies, as well as life science company Context Labs.

In the spring, New England Development filed plans to add 600,000 square feet of office and lab space to the area surrounding the Cambridgeside mall, which is just steps away from the American Twine Office Park. After community pushback, the firm withdrew plans and is expected to file a new proposal this summer.

New England Development acquired the property from Transatlantic Investment Management. The office park last sold in 1994 for $5 million.

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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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