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New York-based Clarion Partners acquired 245 First St, an office and lab property in Cambridge's Kendall Square, for more than $311M. Jamestown Properties, an Atlanta-based firm, sold the property, repped by Eastdil Secured. Jamestown did well during its hold. The company bought the 298k SF asset in 2013 for about $192M, according to the Boston Business Journal.
The building includes 10 stories of office space atop a 334-spot garage, plus a six-story life sciences facility. Tenants include MIT’s Center for Information Systems Research and Center for Collective Intelligence, as well as the Forsyth Institute, which specializes in oral health research. [BBJ]
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