A fund sponsored by CBRE Investment Management has acquired a majority interest in 300 Third Street, a 132,000-square-foot, class A life sciences building located in the Kendall Square/East Cambridge neighborhood of Boston, through a joint venture with a publicly traded REIT. The transaction marks the fund’s second acquisition of a life sciences property in the area within the past three months and is aligned with the Fund’s strategy to expand its exposure in the rapidly growing life sciences sector.
Built in 2000, 300 Third Street is a six-story life sciences building comprised of both recently renovated office/lab spaces and street-level, retail-space housing an upscale sushi restaurant. The property features floor plates averaging 32,000 square feet, 12-foot, 8-inch ceiling heights, bicycle parking, shower facilities, 139 above-grade and subterranean parking spaces, electric vehicle-charging stations, LED lighting, enhanced air-filtration systems and substantial power
