Newmark announced today the successful completion of the sale of The ARC at 35 CambridgePark Drive in Cambridge, Massachusetts on behalf of The Davis Companies and Invesco to HCP. Vice Chairman Edward Maher, Executive Managing Directors Matthew Pullen and James Tribble and Director Samantha Hallowell of Newmark’s Boston Capital Markets team - which is led by Co-Head of U.S. Capital Markets Robert Griffin - oversaw the transaction of the newly-developed Class A laboratory building in conjunction with Newmark Executive Managing Director Mark Winters.
Completed in November 2018, The ARC is a state-of-the-art, 224,305-square-foot life science asset with a 331-space parking garage. The property is presently 100 percent leased as a headquarters or mission-critical facility for five biopharmaceutical/biotechnology companies complemented by a brand-new craft beer and burger restaurant. On-site amenities include a tenant lounge, fitness center, locker rooms, bicycle room, indoor solarium and outdoor green space.
“Cambridge is one of the most sought-after life science destinations across the globe,” said Pullen. “This offering represented a rare opportunity to acquire a newly-developed laboratory building within this land-constrained market, which consistently posts tight supply-demand fundamentals.”
The ARC benefits from a transit-oriented location adjacent to the MBTA Red Line, which provides its employees with direct access to Harvard Square and Kendall Square/MIT. Convenient vehicular access from Boston’s western and inner suburbs is facilitated via proximity to Routes 2, 16 and 128 (Interstate 95) and Fresh Pond Parkway. The asset is also located directly along the Minuteman Bikeway with connections to bicycle paths throughout Cambridge, Lexington and Somerville.
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