Newmark Recaps 300 Third Street in Cambridge; Fourth for Seller Totals $3.2B
Newmark has completed the recapitalization of 300 Third Street, a six-story 131,963-square-foot Class A laboratory/office asset in Cambridge, MA. The transaction is the seller’s fourth recapitalization since 2019 overseen by Newmark for its assets along Kendall Square’s Binney Street corridor, with a total consideration of $3.2 billion.
Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller. William Sleeper of Newmark provided financial analysis support.
300 Third Street’s 129,424-square-foot laboratory/office component is fully leased to Alnylam, a pharmaceutical company that is recognized for developing the world’s first and only RNAi therapeutics. Its 2,539-square-foot retail component is fully leased to Fuji at Kendall, an upscale sushi restaurant. The property also features a 139-space parking garage.
300 Third Street is situated within a five-minute walk of the MBTA Red Line’s Kendall/MIT subway station, which facilitates access across the rest of Cambridge and Downtown Boston.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.