CAMBRIDGE, Mass. — A trio of Kendall Square buildings that are home to big-name drug companies just traded hands for one of the steepest prices ever seen in Boston’s office market.
Chicago-based investment firm Harrison Street Real Estate and Boston-based developer Bulfinch agreed to pay the investment arm of Massachusetts Institute of Technology $1.1 billion for a long-term lease on the three buildings — 610 Main Street, 700 Main, and One Portland Street in Cambridge.
The cluster of buildings, called the Osborn Triangle, is occupied by Pfizer (PFE), Novartis (NVS), and startup hub Lab Central, as well as a few smaller tenants. It sits in one of the hottest real estate markets on the East Coast and was priced accordingly.
