Press Release brought to you by CBRE/New England

CBRE/New England Sells 125 & 150 CambridgePark Drive

11/21/2014

Friday, November 21, 2014

 

 

CBRE/New England Contact:

Kara DeMichele

Tel: 617.912.7038

kara.demichele@cbre-ne.com

 

 

 

CBRE/New England Sells 125 & 150 CambridgePark Drive

Institutional-quality, two-building portfolio sold in highly coveted Cambridge market

 

BOSTON (Nov. 21, 2014) — CBRE/New England’s Capital Markets team announces the sale of 125 & 150 CambridgePark Drive, a two-building portfolio totaling 470,258 square feet located in Cambridge, Massachusetts. The portfolio is currently 94% leased to a diversified base of high-quality tenants including Whole Foods Market, Boston Scientific, EMC, Intuit, Regus, Thomson Reuters and HP.

 

CBRE/New England’s Chris Angelone, Bruce Lusa, John Meador and Charles Kavoogian represented the seller, a joint venture between Blackstone and Equity Office Properties, and procured the buyer, CBRE Global Investors.

 

“Blackstone and Equity Office Properties have repositioned 125 & 150 CambridgePark Drive as best-in-class assets,” according to CBRE/NE’s Angelone. “CBRE Global Investors will continue to enhance the existing buildings and will benefit from the continued transformation of West Cambridge into a dynamic 24-hour community.”

 

125 & 150 CambridgePark Drive are two Class A office buildings comprised of ±470,258 square feet located on a ±5.8-acre site with a to-be-built parking garage. Located in West Cambridge, 125 & 150 CambridgePark Drive’s campus setting combined with the Cambridge address has consistently attracted tenants seeking a value alternative to the rising rental rates in Downtown Boston and East Cambridge. The buildings have numerous on-site and area amenities, including the first Whole Foods-branded full-service cafeteria and a brand-new fitness center/game lounge. The property is easily accessible via the Route 2/Route 16 intersection, provides ample surface parking, and is conveniently located a block from the MBTA’s Red Line Alewife station. Additionally, there will be over 1,150 apartments on CambridgePark Drive within 24 months.

 

 

 

 

 

 

 

 

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 (in terms of 2013 revenue). The company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

 

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11/21/2014 - 11:48

Source

CBRE/New England

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