Beacon Capital Sells One Kendall Square

CAMBRIDGE, MA-After lengthy negotiations, Beacon Capital Partners Inc. finally sold One Kendall Square here for $192 million. The property was sold to a partnership of Lincoln Property Company and the J.E. Robert Cos., despite earlier reports that talks between this joint venture and Beacon were stalled.

The property consists of nine office and laboratory buildings, retail space, a movie theater and a parking garage and occupies nearly 660,000 sf of space. Beacon purchased the complex, along with the Athenaeum Building at 215 First St. here, nearly three years ago for $195 million. The Athenaeum, a 306,000-sf building, sold immediately to Capital Properties this past summer for $68 million. But changes in the economy since then forced One Kendall Square to remain on the market for a while longer.