Asset: Office
Location: Cambridge, MA
SF: 122,597 SF
Acquisition date: June 2025
Investment Rational: 222 Third Street, an aproximately 120,000 SF, historic brick-and-beam office building in East Cambridge/Kendall Square (MIT), one of the nation’s most dynamic and supply-constrained submarkets, steps away from the MBTA Red and Green Lines. The property presents a compelling value-add opportunity, with an average historical occupancy of 96%. Since 2019, over $14M invested in CAPEX, including a renovated lobby, elevator modernization, structural reinforcements, and a new roof—allowing us to focus exclusively on leasing.
This is a rare opportunity to acquire a well-located asset at a highly attractive basis compared to historical trades. With strong leasing potential, recent renovations, and flexible suite configurations, 222 Third Street is well-positioned for future growth.