The Beal Companies and Rockwood Capital Corp. have purchased Kendall Square, a nine-building mixed-use project near the Massachusetts Institute of Technology in Cambridge, Mass., for more than $210 million.

 

The $210.5 million transaction is the largest transfer of commercial space in the Cambridge and suburban Boston markets this year. The sellers were J. E. Robert Companies and Lincoln Property Company.

 

The nine-acre 676,440 square foot environment in East Cambridge consists of nine separate buildings plus two storage facilities, the 1,530-car Kendall Square structured parking garage, and the nine-screen Kendall Square Cinema.

 

Kendall Square is 47 percent lab space, 39 percent office space, 11 percent retail and 3 percent storage. The property’s lead tenants include Genzyme Corp., The Whitehead Institute, Harvard, Amgen, and Charles Draper Labs.

 

Originally constructed in the late 1890’s as a manufacturing plant for the Boston Woven Hose & Rubber Company, it was redeveloped as today’s urban mixed-use center with a retail plaza, pedestrian walkways and atriums.

 

The sale was negotiated by the team of Michael Smith, Cappy Daume, Scott Jamieson and Gail McDonough of Spaulding & Slye, a member of the Jones Lang LaSalle group.

 

Financing was provided by Anglo Irish Bank, arranged by Sonnenblick Goldman.

***

What’s your opinion? Send your Letter to the Editor to janis@inman.com.

 

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×