CAMBRIDGE, MA – Boston real estate development firm Cabot, Cabot & Forbes announced
the acquisition of 67 Smith Place in the Alewife neighborhood of Cambridge, MA. The 4.4-acre parcel consists of three industrial buildings with a combined 67,000 SF of industrial space.
67 Smith Place is located directly adjacent to CC&F’s master-planned mixed-use project “The Quad,” a 1,100,000 SF lab project and residential on 11.9 acres, presently before the City of Cambridge for approvals. The combined acreage of the Quad and 67 Smith Place raises CC&F holdings in Alewife to 16.3 acres.
The Quad project will include a pedestrian bridge over the adjacent MBTA Fitchburg Commuter rail tracks, connecting Smith Place to Cambridge Park Drive, enabling an easy walk to the MBTA Redline Terminal.
The Quad project will consist of 575,000 SF of lab space, 490 multifamily units, and 60,000 SF of ground-floor retail amenities including a craft brewery, a rock-climbing club and
maker space. CC&F pioneered the development of Alewife following the Recession, beginning with the Atmark in 2013. The 428- unit Atmark project was completed in 2015.
67 Smith Place was a complex and challenging acquisition, requiring the coordination of 20 industrial condominium sellers and multiple subtenants.
Jacob Vance, Senior Project Manager for CC&F, said “It was a purchase that required extraordinary patience and collaboration between the many sellers and CC&F. We are grateful for their cooperation, and for the assistance of broker, David Stubblebine, in putting all of this together.”
The main building 58,000 SF warehouse offers ceiling heights ranging from 22’ clear to 26’ clear, with 24 drive-in doors, loading docks, and extensive paved areas for parking, and/or loading.
“Alewife transit-oriented development (TOD) remains the most attractive arena for real estate investment in the region, with both life sciences and residential development flourishing,” said Jay Doherty, CEO of CC&F. “Our goals include the creation of new
public transportation infrastructure and new amenities that will create the most attractive ‘walk to work’ location in Greater Boston.”
In the last few years, Alewife has added 3,000 new residential units and seen the leasing of 3,000,000 square feet of lab space.
Established in 1904, CC&F pioneered transit-oriented development (TOD), in the region, beginning in the 1980s. In recent years, CC&F developed over 2.5 million square feet of TOD in Greater Boston. CC&F is also known for creating Boston landmarks such as 60 State Street, One Boston Place, 28 State Street, and over 100 million SF developed nationwide. CC&F continues to develop TOD projects throughout the area with projects underway in
Brighton, the Fenway, Cambridge and Woburn.