JP Morgan Puts Two Buildings on Block

CAMBRIDGE, MA-Jones Lang LaSalle has been hired by JP Morgan Investment Co. to market a pair of office buildings in the Alewife district to investors. Industry observers predict 125 and 150 CambridgePark Dr. will collectively fetch more than $100 million.

“It’s going to be a major deal,” one local investment broker tells GlobeSt.com, saying the properties “will get tons of attention.” Constructed between 1984 and 1986 by JLL’s predecessor, Spaulding & Slye, the two buildings were pioneers in establishing Alewife as a business address, with several other properties constructed subsequent to that venture. Today, Alewife not only features several leading tenants, but also a host of amenities have followed the office construction, which now encompasses 2.1 million sf, according to JLL’s Q1 office market results. Besides a hulking parking garage and the first stop inbound for the Red Line subway into Boston, 125 and 150 CambridgePark Dr. also abut a class A apartment complex and various retail and restaurant options that did not exist at the market’s inception.

Calls regarding the sale of 125 and 150 CambridgePark Drive were referred to JLL principal Cappy Daume, who was unavailable for comment by press deadline. Other investment specialists working on the assignment reportedly include Scott Jamieson, Gail McDonough, and Michael Smith, who has participated in two prior sales of 125 and 150 CambridgePark Drive, the last in 2001 to JP Morgan.