Beacon Capital, a three-year old real estate investment company, bought the site two and a half years ago and renovated two of the original three buildings to cater to high-tech companies. Current tenants include Akamai Technologies Inc., Forrester Research Inc. and the M.I.T. Laboratory for Computer Science. Last April Beacon sold the neighboring Draper Building to the Charles Stark Draper Laboratory Inc., which leased the building.
The purchase price was not disclosed, but the renovations will be completed using Beacon's plans, which received city approval. The plans include redesigning the common areas.
This is the university's fifth commercial investment in the area. M.I.T. also owns 640 Memorial Dr., 1 Broadway, 28 Osborn St., which it is currently renovating, and the land on which Forest City Enterprises is developing University Park at M.I.T., a mixed-use development.
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