CBRE/New England’s Capital Markets team today announced the sale of 125/150 Cambridgepark Drive, two institutional-quality, multi-tenant office buildings totaling 470,258 SF and an accompanying 456-space, recently constructed parking garage in Cambridge, Massachusetts. The premier assets sold for an undisclosed amount.
CBRE/NE’s Capital Markets experts Dave Pergola and Brian Doherty, along with leasing experts Chuck Kavoogian and Adam Brinch, represented the seller, CBRE Global Investors, and procured the buyer, a joint venture between Longfellow Real Estate Partners and an undisclosed investor.
Over the past several years, Cambridgepark Drive has experienced a dramatic transformation into a vibrant community. With over 1,000 high-end residential units either delivered or under construction, the area is now a sought-after address within walking distance to the MBTA’s Red Line Station. With the streetscape almost complete, 125/150 Cambridgepark Drive stands to benefit immensely from the area’s resurgence and continue its dominance as the premier West Cambridge office address.
About Longfellow Real Estate Partners
Longfellow Real Estate Partners serves the unique demands of science and technology companies and focuses on the most innovative cluster locations in the US. The firm acquires and develops facilities in strategic locations and builds long-term relationships with research-centric organizations including life science companies, universities, medical centers and research institutes. The principals of Longfellow have developed and managed more than 6.5 million square feet of laboratory and high tech space over their careers including numerous high profile projects on the East Coast. The company’s institutional capabilities and entrepreneurial vision enables Longfellow to deliver high quality laboratories and innovation space while satisfying each tenant’s unique requirements. For more information about Longfellow and/or its projects, please email info@lfrep.com.
About CBRE/New England
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
