Newmark Arranges Sale of Three Life Science Assets in Cambridge, MA

December 20, 2024 9:00 AM

Newmark announces it has arranged the sale of 215 First Street, 150 Second Street and 11 Hurley Street, three life science assets in Cambridge, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin and Boston Capital Markets Executive Vice Chairman Edward Maher, Vice Chairman Matthew Pullen, Executive Managing Director James Tribble, Senior Managing Director Samantha Hallowell and Associate Director William Sleeper represented the undisclosed seller and procured the undisclosed buyer.

Totaling 552,543 square feet, the three assets offer a mix of in-place cash flow and upside potential.

“215 First Street, 150 Second Street and 11 Hurley Street check all of the boxes for modern life science users,” said Sleeper. “Each asset offers laboratory-ready infrastructure and high-quality interior buildouts that are conducive to a variety of tenant requirements.”

The three assets are located in Cambridge’s thriving Kendall Square submarket, within walking distance of diverse amenities, blue-chip employers, the prestigious MIT campus and an MBTA Red Line station connecting to Downtown Boston.

Newmark Financial Analyst Grady Zink provided financial analysis support for the transaction.

About Newmark
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. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of approximately $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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