King Street Properties announced today the acquisition of 359 Allston Street, a life science asset in Cambridge, Massachusetts. Totaling 7,517 square feet, 359 Allston Street was completely gut renovated in 2022. The building is fully leased as the headquarters of biotechnology firm Vaxess Technologies.
“359 Allston Street is occupied by a well-funded, fast-growing biotechnology tenant,” said Will Sleeper, Associate Director at Newmark, which represented the seller. “The asset is set on a quarter-acre-lot with a highly efficient floor plate and exclusive outdoor spaces that make it an ideal Cambridge flagship for a tenant of this size.”
359 Allston Street is situated minutes from Kendall Square, Cambridge’s world-renowned life science epicenter, and Massachusetts Institute of Technology, a top global research university. The building enjoys transit connectivity with an MBTA Red Line station located within a 12-minute walk.
“Acquiring 359 Allston Street was a strategic decision that aligns with our long-term vision, and we appreciate Newmark’s assistance with the transaction,” said Tyson Reynoso, Managing Director/Partner at King Street Properties. “This building offers dynamic space for early-stage companies in East Cambridge, the premier life science location in the country.”