September 15, 2021 9:00 AM
Newmark announces the $180 million sale of the Cambridge Highlands Campus, a four-building office/R&D campus located in Cambridge, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and Michael Byrne and Managing Directors Samantha Hallowell and Thomas Greeley of the firm’s Boston Capital Markets Group represented the seller, Clarion Partners, and procured the buyer.
Totaling approximately 9.7 acres of land in West Cambridge/Alewife, the Cambridge Highlands Campus features 228,592 square feet of office/R&D massing across four buildings. The campus serves as the long-term headquarters of Raytheon BBN Technologies, a division of global aerospace and defense giant Raytheon Technologies (NYSE: RTX).
“The Cambridge Highlands Campus benefits from mission-critical, in-place use by an investment-grade, credit-rated tenant,” said Pullen. “It further enjoys strategic positioning within a rapidly-expanding, institutional-quality neighborhood that is undergoing substantial laboratory and residential development.”
Anchored by Alewife station, the starting point of the MBTA Red Line, the surrounding West Cambridge/Alewife submarket is home to a diverse corporate roster, a densely-populated residential community and a robust amenity scene.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
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