Image courtesy of Bruce Martin Photography

A life science developer that made its first Greater Boston acquisition in February has expanded its local portfolio with the $54 million acquisition of a transit-oriented property in West Cambridge.

IQHQ’s latest acquisition is Alewife Center, a 4-story, 90,000-square-foot office building completed in 1988.

The seller, James Campbell Co., acquired the 1-acre property in 2014 for $21.6 million. Newmark Knight Frank’s capital markets team represented the seller, James Campbell Co., and procured the buyer.

The acquisition of One Alewife Center comes four months after IQHQ paid $125 million for the nearby GCP Applied Technologies campus at Alewife Park, which currently contains 290,000 square feet of office and lab space. Combined, the properties span 27 acres near the MBTA’s Alewife station.

Previously known as Creative Science Properties, IQHQ raised $770 million earlier this year to expand in U.S. life science clusters including Greater Boston. Since then, it’s paid $485 million to acquire four properties in Boston, Cambridge and Andover. It’s also partnering with Meredith Management Corp. on plans for a 720,000-square-foot office-lab project built on a Massachusetts Turnpike air rights parcel in the Fenway.