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| Kerry Hawkins |
BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF)
announces the sale of the Quad, a transitioning life science campus located in
Cambridge, Massachusetts. Comprising four buildings (75 Moulton Street, 10
Wilson Avenue, 40 Smith Place and 75 Smith Place), the Quad totals 199,487
square feet of space set on roughly 8.6 acres.
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| Coleman Benedict |
The HFF team arranged the sale of the property on behalf of The
Davis Companies and procured the buyer, Invesco Real Estate, a global real
estate investment manager on behalf of one of its institutional clients. The
Davis Companies will continue to manage the asset and oversee its
redevelopment.
Boston is one of the strongest life science clusters in the world
and Cambridge represents its epicenter. As market conditions in East
Cambridge continue to be marked by soaring rents and low vacancy rates, new life
sciences nodes have emerged – West Cambridge being a prime example.
Tenants and investors
are seeking to recreate the same qualities that originally attracted them to
Kendall Square with an urban, in-fill location and convenient pedestrian access
to transit and amenities.
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| Christopher Phaneuf |
The Quad is located just minutes from Alewife Station, the anchor
of the MBTA’s Red Line, which connects the region’s most innovative minds in
West Cambridge, Harvard Square, Kendall Square and Seaport.
The Quad’s West Cambridge neighborhood also
presents a thriving live/work/play dynamic with a broad amenity base, including
Whole Foods, Trader Joes, Starbucks and Chipotle and over 20 mid-upscale
restaurants.
The HFF investment advisory team representing the seller included Coleman
Benedict, Christopher Phaneuf, Ben Sayles and Kerry Hawkins.
“The opportunity to invest in the Quad was a highly competitive
bidding experience and is emblematic of a trend we are seeing in the market,”
said Hawkins. “Right now, institutional investors recognize the importance of
investing within this sector and are eager to direct capital into life science
assets.”
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| Ben Sayles |
The Davis Companies is an integrated real estate investment,
development and management firm headquartered in Boston that has invested more
than $4 billion in gross asset value through real estate equity, debt, and
fixed-income securities.
A combination of capital markets, development
and management expertise allows The Davis Companies to nimbly tackle complex
opportunities.
Directly, and with its valued partners, The Davis Companies
currently owns a real estate portfolio of approximately 12 million square feet
of office, multifamily, retail, hospitality, light industrial, healthcare and
bioscience properties across the Eastern United States.
For more information, please contact:
KRISTEN MURPHY
HFF Director, Public
Relations
(617) 338-0990
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