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| Kellie Coveney |
BOSTON, MA – JLL Capital Markets announced today that it has completed the sale of a 7,200-square-foot building at 1120 Massachusetts Ave. in the Harvard Square area of Cambridge, Massachusetts.
JLL marketed the property on behalf of the seller, a
private entity advised by Ella Properties, LLC. An
affiliate of The Bulfinch Companies, Inc. purchased the asset with plans to
reposition the building as a first-class office, medical or biotech property.
The
JLL Capital Markets team representing the seller was led by Directors Kellie
Coveney and Michael Restivo.
Michael Restivo
The acquisition of 1120 Massachusetts Ave. further strengthens Bulfinch’s growing portfolio in the Cambridge market.
1120 Massachusetts Ave. is in the heart of Harvard Square, a
globally recognized commercial district, business address, entertainment center
and residential neighborhood near Harvard University.
The
transit-oriented property has a Walk Score® of 97 and
is a short walk to the Harvard Square Subway Station on the MBTA Red Line,
Greater Boston’s “Brain Train” for direct connection to MIT.
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| A 7,200-square-foot building at 1120 Massachusetts Avenue in the Harvard Square area of Cambridge, MA. |
It is also proximate to the burgeoning employment centers in Kendall Square, Alewife and downtown Boston. Completed in 1970, the building has two floors above grade plus a fully improved basement.
According to JLL Research’s 2020
Life Science Real Estate Outlook, the Greater Boston Area is the
top-ranked life science cluster in the country, followed by the San Francisco
Bay and the San Diego Metro Areas. The current pandemic has revealed how
critical life sciences is to the U.S. and global economies.
For more news, videos and research resources on JLL, please visit
our newsroom.
CONTACT:
Kimberly Steele
JLL Senior Associate
Public Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
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