NGKF Capital Markets has successfully completed the sale of The Davenport in Cambridge, Massachusetts to Oxford Property Group and Alony Hetz Properties & Investments Ltd. (TASE: ALHE). The NGKF Capital Markets Boston team led by U.S. Head of Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Director James Tribble oversaw the transaction of the best-in-class brick-and-beam asset on behalf of Jamestown.
Comprising 232,400 square feet across four stories, The Davenport serves as the corporate headquarters for HubSpot (NYSE: HUBS), a leading inbound marketing and sales platform. Throughout the next four years, the fast-growing firm will expand into the entire building.
“The Davenport is consistently recognized as one of Greater Boston’s finest brick-and-beam rehabilitations, making it an exceptional ‘young, hip and cool’ destination that directly aligns with HubSpot’s innovative culture,” said Pullen. “Furthermore, this Class A offering represented a rare opportunity to acquire an institutional-quality asset within the tightly-controlled East Cambridge/Kendall Square marketplace.”
Surrounded by more than 300 technology and life science companies as well as some of the world’s top educational institutions and research centers, The Davenport benefits from a strategic location within a globally significant hub of innovation and entrepreneurship. The property also offers exceptional subway access, located just one block from the MBTA Green Line’s Lechmere station and only 10 minutes from Downtown Boston.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.