MIT Buys $90.5 Million Life Sciences Portfolio
The Massachusetts Institute of Technology (MIT) this month purchased a four-building complex of biotechnology buildings in Cambridge from a family trust for $90.5 million.
Boston-based real estate services firm Colliers Meredith & Grew brokered the sale. Lisa Campoli, Joe Flaherty, Tom Hynes and Nick Herz at that firm represented the owner and procured the buyer.
The four properties total 148,116 sq. ft. and include 185 Albany Street and 195 Albany Street, which measure 48,000 sq. ft. each; 148 Sidney Street at 15,000 sq. ft.; and 149 Sidney Street at 37,116 sq. ft. The structures are fully leased, and MIT is one of the tenants. Other companies leasing space in the portfolio are Cubist Pharmaceuticals, Shire Pharmaceuticals and Acceleron Pharma.
The brokers attributed the successful sale in part to a thriving biotech market in Boston. “This sale demonstrates that despite today’s constrained capital markets, liquidity still exists for well-located assets in strong submarkets,” Campoli says.
Acceptable Use Policy blog comments powered by Disqus
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
advertisement
Photo Galleries
Hudson Yards Development
Check out images for Coach's new global headquarters, which will anchor the initial tower of the Eastern Rail Yards site within the 26-acre mixed-use Hudson Yards Development on Manhattan's far West Side.
Outstanding Women in Commercial Real Estate
From housing low-income families in Southern California to closing some of Manhattan's largest office leases, women leaders are using commercial real estate as a platform to reshape communities while they drive investor returns.
Click here to view more photo galleries.
Videos
2012 MBA CREF/Multifamily Housing Convention & Expo Video Blogs
Check out the Vlogs from the 2012 MBA CREF/Multifamily Housing Convention & Expo from JLL...
Click here to view more videos.
advertisement
Blogs
|
Traffic Court |
|
BlackSwan |
This Week's Most Popular
Current Issue
|
|







