Jamestown acquires Riverview: Two building property at 245 First Street

Jamestown, a national real estate and investment firm, has acquired Riverview in the Kendall Sq. neighborhood of the city. Riverview, the latest addition to Jamestown's distinctive Greater Boston portfolio, comprises two properties, including 245 First St., a ten-story class A office building situated above a 334-space, eight-story structured parking garage, and a six-story life science facility, Cambridge Science Center, connected by a large glass atrium. "Jamestown continues to focus on the needs of today's evolving workforce from the tech and bio tech experts in Kendall Sq. to the drivers of the innovation economy in the Innovation District of the Boston Seaport," said Michael Phillips, chief operating officer at Jamestown. "At Riverview we are looking forward to activating the ground floor common areas of this asset by adding in demand amenities and improving shared spaces that will encourage the cross-pollination of ideas within the community." Kendall Sq. is a vibrant mixed-use neighborhood that features world-class office and lab space with unprecedented access to public transportation including the Lechmere Green and Kendall Red Line stations, bus lines and shuttles. Kendall Sq.'s proximity to world-renowned institutions, such as Harvard University and the Massachusetts Institute of Technology, has made it the leading hub for technology and biotechnology, and Riverview is no exception. In addition to offering unprecedented views of the Charles River and the Boston skyline, tenants at Riverview have an opportunity to blend office and lab space in one complex. Riverview enables life science companies the ability to house administrative functions in office space at 245 First St., adjacent to their labs at Cambridge Science Center. The property is a combination of adaptive re-use and newer, high-rise construction. As the national conversation shifts from manufacturing to light, sustainable tech-based uses, Jamestown is leading the trend of reuse and repositioning of industrial and manufacturing assets. Jamestown has been actively acquiring properties in the Greater Boston area over the last three years, most recently the Innovation and Design Building in the Seaport/Marine Industrial Park and the Newbury Collection in the Back Bay. Founded in 1983 with headquarters in Atlanta, GA and Cologne, Germany and offices in New York City, NY, San Francisco, CA and Washington, DC, Jamestown is a leader in acquisitions and value added management. For more than 30 years, Jamestown has generated approximately $9 billion in strategic investments. The company is focused across the risk spectrum with core, core-plus, and opportunistic funds in two primary markets: 24-hour cities and Sunbelt territories with strong demographic growth.