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.”

Lincoln Property Company and joint venture partner Brasa Capital Management acquired a specialized life science facility at 10165 McKellar Ct. in San Diego for an undisclosed amount. The 79,313-square-foot property was sold by QuidelOrtho Corporation, which currently occupies the entire building and plans to vacate and relocate operations to other facilities in San Diego in 2025.

10165 McKellar Ct. is a two-story facility located in the western Sorrento Mesa submarket, a Southern California hub for life science activity. The property comprises a well-proportioned mix of purposefully built lab, warehouse and corporate office space.

“The opportunity to own a versatile asset in this market was appealing to our team and Brasa,” said Scott Moffatt, EVP of Lincoln. “Our next step will be to assess the market and the needs of current and future tenants to determine the best use-case for 10165 McKellar Court moving forward.”

Kurt Luedtke and Zac Saloff of JLL represented the seller in the negotiations.