Cambridge, MA NGKF Capital Markets has completed the sale of The Davenport to Oxford Property Group and Alony Hetz Properties & Investments Ltd. The sale price was not disclosed. The NGKF Capital Markets Boston team led by U.S. head of capital markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen and director James Tribble oversaw the transaction of the best-in-class brick-and-beam asset on behalf of Jamestown.
The Davenport - Cambridge MA.Comprising 232,400 s/f across four stories, The Davenport serves as the corporate headquarters for HubSpot, a leading inbound marketing and sales platform. Throughout the next four years, the fast-growing firm will expand into the entire building.
“The Davenport is consistently recognized as one of Greater Boston’s finest brick-and-beam rehabilitations, making it an exceptional ‘young, hip and cool’ destination that directly aligns with HubSpot’s innovative culture,” said Pullen. “Furthermore, this class A offering represented a rare opportunity to acquire an institutional-quality asset within the tightly-controlled East Cambridge/Kendall Sq. marketplace.”
Surrounded by more than 300 technology and life science companies as well as some of the world’s top educational institutions and research centers, The Davenport benefits from a strategic location within a globally significant hub of innovation and entrepreneurship. The property also offers exceptional subway access, located just one block from the MBTA Green Line’s Lechmere station and only 10 minutes from Downtown Boston.
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services.