Davis Cos., Principal Real Estate sells Cambridge office complex for $815m
The Davis Cos. and Principal Real Estate Investors have sold Charles Park, a two-building office complex and associated parking garage located in Cambridge, Mass., for $815 million.
The buyer was not identified.
The 408,259-square-foot Charles Park comprises two class A office buildings — One Rogers Street and One Charles Park — complemented by a 656-space, seven-level parking garage. It features reusable in-place infrastructure for life sciences development, including large floor plates that can provide up to 65,000 square feet of contiguous space on one level, 13' to 17' ceiling heights, and substantial loading capacity with five loading docks and two freight elevators.
“Charles Park is well positioned along Kendall Square’s rapidly expanding First Street corridor with immediately recognizable architecture highlighted by its distinctive horseshoe-shaped facade,” said Edward Maher, vice chairman at Newmark, which represented the seller and buyer. “T