Newmark facilitated the sale of 359 Allston St., a life science property in the East Cambridge submarket of Cambridge, MA. A team of Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper, in conjunction with Joseph Alvarado and Casey Valente, represented the undisclosed seller and procured the buyer, King Street Properties.

“359 Allston St. is occupied by a well-funded, fast-growing biotechnology tenant,” said Sleeper. “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 was completely renovated in 2022. The building is fully leased, serving as the headquarters of Vaxess Technologies.

“Acquiring 359 Allston St. 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. “This building offers dynamic space for early-stage companies in East Cambridge, the premier life science location in the country.”

Boston-based King Street Properties has acquired the Esplanade, a 241,963-square-foot, multi-building life science campus in San Diego’s popular University City / University Towne Centre (UTC) submarket. The transaction for three of the buildings, including 4755 Nexus Center Dr., 4757 Nexus Center Dr. and 4796 Executive Dr., closed on Dec. 30, 2024; the transaction agreement also includes the sale of a fourth building, slated to close in December 2025. The purchase price, seller and terms were undisclosed.

King Street is planning campus-wide improvements including the addition of common amenities, the upgrade of existing lab infrastructure and an expansion of available lab space. The new common area amenities will include a conference center, a fitness center and upgrades to outdoor gathering spaces.

“We’re thrilled to announce the acquisition of the Esplanade campus, which adds to our growing portfolio in the San Diego market, enabling us to expand our offerings and meet the needs of tenants of all sizes,” said Sonia Taneja, managing director overseeing the West Coast for King Street.

Read King is exploring building 336 apartments and retail next to Balmoral, a community in Atascocita. Public filings peg the cost of the development at $60 million.

The planned development, called The Market at The Groves, is at Woodland Hills Drive and Madera Run Parkway in The Groves neighborhood. Besides the apartments, Read King is looking at least four retail buildings.

The Houston Business Journal report the retail includes a 22,000-square-foot building at 15936 Woodland Hills Drive, a 3,800-square-foot building at 15934 Woodland Hills Drive, a 10,800-square-foot building at 15930 Woodland Hills Drive and a 12,460-square-foot building at 15906 Woodland Hills Drive. All are shell buildings “for speculative retail, restaurant, office and/or tenant occupancies.

The apartment community will consist of 12 three-story buildings and include detached garages, a standalone clubhouse and separate fitness building, a resort-style pool with cabana, and a pickleball court. Meeks + Partners is designing the apartments.

King Street Properties said its first building at The Landing in the mid-Peninsula town of Burlingame is substantially complete and has opened its marketing center for prospective life science tenants. The seven-story, 300,000 square-foot 1699 Bayshore anchors the 4.5-acre campus, devised as a hub for growing life science companies.

“The Landing creates opportunity for life sciences companies to plant roots in Burlingame and fulfills the city’s vision for the Bayfront neighborhood as a home for science,” said Sonia Taneja, managing director overseeing the West Coast for King Street. “The Landing is leading the change in life science real estate opportunities in the Mid-Peninsula, raising the bar for purpose-built lab space.”

Currently under construction is The Landing’s second building, 1701 Bayshore. It will feature six stories and 203,500 square feet next door to 1699 Bayshore. 

Leasing for The Landing is handled by JLL’s Grant Yeatman, Cole Smith, Mark Bodie, and Toss Vallentine.