Alexandria Real Estate Equities, Inc. has recently sold a 242,477-square-foot life science property located at 640 Memorial Drive in Cambridge, MA to Bain Capital Real Estate and Phase 3 Real Estate Partners. The building was originally built in 1913 as an automobile manufacturing factory and is situated along the Charles River.
The seller was represented by Newmark’s team of Steven Golubchik , Robert Griffin , Edward Maher , Matthew Pullen , James Tribble , Samantha Hallowell and William Sleeper . According to Maher, “640 Memorial Drive holds a significant place in history with its prime location in Cambridge. Originally constructed as an automobile factory over a century ago, it now serves as state-of-the-art research and development facilities for innovative life science tenants.”
This transaction marks another successful sale for Alexandria RE Equities’ portfolio of premier properties across the country.
