Cambridge, MA Newmark completed the $180 million sale of the Cambridge Highlands Campus, a four-building office/R&D campus. Newmark co-head of U.S. Capital Markets Robert Griffin, vice chairman Edward Maher, executive managing directors Matthew Pullen and Michael Byrne and managing directors Samantha Hallowell and Thomas Greeley of the firm’s Boston Capital Markets Group represented the seller, Clarion Partners, and procured the buyer.
Totaling 9.7 acres of land in West Cambridge/Alewife, the Cambridge Highlands Campus features 228,592 s/f of office/R&D massing across four buildings.
The campus serves as the long-term headquarters of Raytheon BBN Technologies, a division of global aerospace and defense giant Raytheon Technologies.
“The Cambridge Highlands Campus benefits from mission-critical, in-place use by an investment-grade, credit-rated tenant,” said Pullen. “It further enjoys strategic positioning within a rapidly-expanding, institutional-quality neighborhood that is undergoing substantial laboratory and residential development.”
Anchored by Alewife station, the starting point of the MBTA Red Line, the surrounding West Cambridge/Alewife submarket is home to a diverse corporate roster, a densely-populated residential community and a robust amenity scene.