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MIT Homing in on Pair of Stimpson Buildings

CAMBRIDGE, MA-The properties are among a handful still owned by one of the city's most enduring family businesses.

By Joe Clements | Updated on October 17, 2007

CAMBRIDGE, MA-The Massachusetts Institute of Technology is apparently zeroing in on more of its home turf, with sources claiming the academic institution is on the verge of acquiring two laboratory buildings in the city’s CambridgePort district. The buildings at 185 and 195 Albany St. were put on the market earlier this year by members of the Stimpson family, a local clan whose presence in the area dates to the early 1900s.

According to sources, MIT is close to striking a deal for 185 and 195 Albany St., side-by-side brick structures that were put on the block earlier this year by Meredith & Grew. The so-called Cambridge Life Sciences portfolio also included 148 and 149 Sidney St., but Lisa Campoli, head of the M&G’s investment sales group, says those two assets have been separated from the Albany Street offerings, and it is not clear how they will be handled.

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