Newmark announces the sale of One Alewife Center, completing a strategic life science campus assemblage located in Cambridge, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, James Campbell Company, and procured the buyer, IQHQ.
Comprising approximately 90,000 square feet across four stories, One Alewife Center is in a transit-oriented location adjacent to the MBTA Red Line’s Alewife station.
“One Alewife Center is a critical and final piece of a broader campus that includes the adjacent Alewife Park, a 290,000-square-foot office, laboratory and R&D complex acquired by IQHQ in July,” said Matthew. “The two acquisitions create a large-scale solution to support the life science industry along the MBTA Red Line in Cambridge, the region’s most active life science market. One Alewife Center and Alewife Park combined are 27 acres, creating a truly unique offering in West Cambridge.”
One Alewife Center is surrounded by a mixed-use environment including corporate neighbors such as Celgene, Eisai, Forrester, GSK, Kintai Therapeutics, Smithsonian and Syros Pharmaceuticals, a fast-growing roster of apartment complexes, the recently-delivered AC Hotels by Marriott and amenities such as the Alewife Brook Parkway Shopping Center and Fresh Pond Mall.
About Newmark (Nasdaq: NMRK)
Newmark Group, Inc., together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
