Newmark Completes Sale of 640 Memorial Drive in Cambridge

CAMBRIDGE, MA–An affiliate of Alexandria Actual Property Equities, Inc. has offered its life science asset at 640 Memorial Drive in Cambridge, MA to Bain Capital Actual Property and Part 3 Actual Property Companions.

Newmark introduced the sale of the 242,477-square-foot life science property situated alongside the Charles River in Cambridge.

Newmark Co-Head of U.S. Capital Markets Robert Griffin, Government Vice Chairman Edward Maher, Vice Chairman Matthew Pullen, Government Managing Director James Tribble, Senior Managing Director Samantha Hallowell and Affiliate Director William Sleeper of the agency’s Boston Capital Markets Group represented the vendor, an affiliate of Alexandria Actual Property Equities, Inc., and procured the customer, Bain Capital Actual Property and Part 3 Actual Property Companions, at the side of Newmark Government Vice Chairman and President of Western Area Capital Markets Steven Golubchik.

“640 Memorial Drive is a historic asset with an iconic location in Cambridge,” mentioned Maher. “Initially inbuilt 1913 as an vehicle manufacturing manufacturing unit, it now hosts first-class analysis, growth and laboratory amenities for cutting-edge life science tenants.”

Positioned alongside the Charles River, 640 Memorial Drive is roughly one mile from Cambridge’s Kendall Sq. neighborhood, which is among the globe’s most sought-after innovation clusters, and the 168-acre campus of MIT, which is among the world’s top-ranked institutes of upper schooling. The asset additionally advantages from proximity to synergistic medical and life science clusters in Boston’s Longwood Medical Space and Fenway neighborhoods.

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