Concord Avenue, Cambridge, Boston

This 42,280 sq.ft. two storey office and laboratory building on 1.86 acres is located on Concord Avenue in the popular suburb of Cambridge, close to downtown Boston. Strategically located close to the MBTA station, the red line subway and a regional bus hub servicing the northwest suburbs it also has a 134 car park facility on site. Located in the same business district as Wyeth and BBN Technologies, it is currently leased in its entirety to
E-Ink Corporation. E-Ink has made substantial investment to the building infrastructure as well as the office and laboratory areas, including $5m tenant spend over the past 18mths.

Cambridge with over 4,000 businesses is also home to Harvard University and Massachusetts Information Technology (MIT) as well as other leading companies such as Novartis, Genzyme, Biogen and Schlumberger. With 10.7m sq.ft. of office space and vacancy rates declining from 25.4% in 2003 to 8.9% by the end of Q1, 2007 demand for office space in Cambridge continues to grow. The Yr 1 pre-tax cashflow after amortised debt service is expected to be $158,000 rising to $560,000 by Yr 5.
Contact Ailesbury Investments for further details.