Archon Top Bidder in 436,000-SF Office Buy

CAMBRIDGE, MA-In another lightning-fast marketing move, the Archon Group LP has apparently been selected as the winning bidder for two office buildings in the Alewife District, GlobeSt.com has learned. Totaling 436,000-sf, 125 and 150 CambridgePark Dr. will fetch more than $120 million, industry sources maintain.

Calls to the Archon Group were not returned by press deadline, and brokers at Jones Lang LaSalle were unavailable for comment. JLL, whose predecessor developed the assets, is marketing the buildings on behalf of New York City-based J.P. Morgan Investment Co., which acquired them in 2001 for $97 million.

Despite the official silence, Archon is said to have emerged victorious over several well-heeled competitors for 125 and 150 CambridgePark Dr. “I know it’s them,” one Boston investment specialist tells GlobeSt.com. Another says an “extremely reliable” player close to the negotiations had relayed as much. Other industry professionals concur that Archon made a hard charge at the buildings after they hit the sales block, part of an overall strategy to invest in Massachusetts even as the firm harvests certain portions of its portfolio. Just last month, the Texas-based investor sold off four properties in Boston’s Fort Point Channel area in two separate transactions totaling more than $90 million.