News: Front Section
Posted: February 16, 2024
Newmark completes sale of
242,477 s/f 640 Memorial Dr.
Cambridge, MA Newmark negotiated the sale of 640 Memorial Dr., a 242,477 s/f life science asset located along the Charles River. Newmark co-head of U.S. capital markets Robert Griffin, executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble, senior managing director Samantha Hallowell and associate director William Sleeper of the firm’s Boston capital markets group represented the seller, an affiliate of Alexandria Real Estate Equities, Inc., and procured the buyer, Bain Capital Real Estate and Phase 3 Real Estate Partners, in conjunction with Newmark executive vice chairman and president of western region capital markets Steven Golubchik.
“640 Memorial Dr. is a historic asset with an iconic location in Cambridge,” said Maher. “Originally built in 1913 as an automobile manufacturing factory, it now hosts first-class research, development and laboratory facilities for cutting-edge life science tenants.”
Positioned along the Charles River, 640 Memorial Dr. is one mile from the Kendall Sq. neighborhood, which is one of the globe’s most sought-after innovation clusters, and the 168-acre campus of MIT, which is one of the world’s top-ranked institutes of higher education. The asset also benefits from proximity to medical and life science clusters in Boston’s Longwood Medical Area and Fenway neighborhoods.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
