A research and development nonprofit has acquired several Cambridge lab condo units from one of the most prominent developers in the life sciences sector.
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Draper purchased four lab condominiums in the 105K SF building at 1 Hampshire St. in Kendall Square for $45M, according to an Aug. 24 deed record. The units were sold by Alexandria Real Estate Equities.
The REIT had purchased the condo units, which sit on the third and fourth floors of the seven-story building, in 2022 for $120M.
Schlumberger Ltd., which had sold Alexandria the units, still owns space on the first and second floors.
Draper also owns space in the building on the fifth, sixth and seventh floors, as well as space on the lower floors. The nonprofit has been in the building, which it calls the Albert G. Hill Building, named after its first chairman, since 1984.
Alexandria first announced the intent to sell its portion of the property in the fourth quarter of 2025 as an effort to reduce its construction pipeline and focus on its megacampuses.
Alexandria and Draper didn't respond to Bisnow's requests for comment.
Draper has expanded locally over the last couple of years, receiving $25M in state and local funding for its $100M microelectronics facility at the University of Massachusetts Lowell campus in 2025. The company broke ground on the facility in April.
Draper is headquartered at Alexandria Real Estate Equities' 555 Technology Square, which is across the street from 1 Hampshire. In 2016, the nonprofit broke ground on a $60M, 20K SF addition to its lab at the Technology Square campus.
The company has other local offices in Pittsfield and Bedford. Nationally, Draper has offices in Utah, Texas, Indiana, Alabama, Florida, Virginia and Washington, D.C.
Alexandria owns roughly 9.3M SF across Greater Boston — 4.7M SF of which lies in Kendall Square — and has 566K SF under development as of the second quarter of 2026. The REIT sold more than $1B in assets in the region in 2023 as the life sciences market began to slow following its pandemic-era boom.
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