$79M Sale of Three Cambridge Quad Buildings Via Stubblebine to Cabot Cabot & ForbesOctober 26, 2018 - By The Real Reporter
CAMBRIDGE –For $79 Million The Stubblebine Company sold 11.9 acres situated in the area known as Cambridge Quad, a transitioning life science and residential campus located in Cambridge, MA, to Cabot Cabot & Forbes. Comprised of three (3) properties, 127 Smith Place, 13 Mooney Street and 45-67 Mooney, Cambridge, the subject property totals 192,459 SF of space situated on 11.9 acres. David and James Stubblebine, Principals of the Stubblebine Company, represented the buyer, Cabot, Cabot & Forbes, in the transaction.
As extremely favorable market conditions in East Cambridge continue to be characterized by exponential rent increases and low vacancy rates, new life science enclaves have emerged to the forefront – West Cambridge being a prominent example. Developers and Tenants are seeking to recreate the same qualities that originally attracted them to Kendall Square with an urban, in-fill location and convenient pedestrian access to transit and amenities.
The Quad is located just minutes from Alewife Station, the anchor of the MBTA’s Red Line, which connects the region’s innovative minds in West Cambridge, Harvard Square, Kendall Square and the Seaport. The Quad’s West Cambridge neighborhood also presents a thriving live/work/play dynamic with a broad amenity base, including Whole Foods, Trader Joes, Starbucks and Chipotle and over 20 restaurants.
“The decision to aggressively invest in the Quad is representative of a trend we are seeing in the greater Cambridge marketplace inside 128,” said David Stubblebine. “Institutional investors definitely recognize the importance of investing within this sector and are eager to direct capital into viable developments opportunities, particularly in the white-hot life science and residential arenas, he adds.”
Founded in 1904, CC&F is a transit-oriented-developer and builder for Boston’s innovation workforce. In recent years, the company has permitted and/or built over 1.5 million SF and 1,300 units of multifamily housing in Cambridge, Newton, Needham and Quincy. CC&F also continues to advance Office and R&D projects.David Stubblebine