Cushman & Wakefield completed the sale of One Alewife Center to James Campbell Company, advised by Colony Realty Capital, for $21.6 million. The Cushman & Wakefield team, led by president Robert Griffin, vice chairman Edward Maher and executive director Matt Pullen, oversaw the transaction of the 91% leased, 89,875 s/f property on behalf of Brookwood Financial.
Constructed in 1988, One Alewife Center is located in the West Cambridge submarket, providing tenants with a large amenity base, strong market fundamentals and a wealth of innovative, neighboring companies. One Alewife Center's location also positions it between two of greater Boston's strongest rental markets - East Cambridge and Waltham - allowing the property to capitalize on tenant migration and value alternatives.
One Alewife Center is situated on the doorstep of the MBTA's Alewife Station, which is one of the city's main transit hubs.
The property also offers abundant parking, when paired with a location just off of Rte. 2 and the Alewife Brook Pkwy. as well as ample parking, provides tenants with an easy commute. One Alewife Center and the surrounding area is expected to continue attracting large companies and startups, alike, securing and property's legitimacy in the market for years to come. Cushman & Wakefield's Juliette Reiter, Mark Winters and David Townsend have been retained for all future leasing activity at One Alewife Center.
During the past year, the Cushman & Wakefield capital markets team has played a key role in the marketing and sale of more than $250 million in assets located in the West Cambridge market.
"Some of the region's most successful companies have either a headquarters or a significant presence in West Cambridge," said Pullen. "This presence, paired with growing amenities and a number of mixed-use developments currently underway, including 1,400 new residential units, makes West Cambridge the area's newest live-work-play market."