Photo courtesy of Newmark

A joint venture including CBRE Investment Management has joined the ownership structure of a Kendall Square office-lab building anchored by Facebook parent Meta Platforms and Bristol Myers Squibb.

CBRE Investment Management and the undisclosed partner became new partners with the original developer of the 433,000-square-foot complex in Cambridge’s tech hub.

Newmark’s capital markets team represented Alexandria in the transaction. Terms were not disclosed.

Facebook originally leased 130,000 square feet at 100 Binney St. in 2017, and recently tripled its Kendall Square presence by subleasing the entire 263,000-square-foot 50 Binney St. building.

That deal enabled Alexandria to recapitalize 50 Binney St. in December, with Norges Bank Investment Management and MetLife Investment Management joining the ownership team.

Bristol Myers Squibb signed on as anchor tenant for the 100 Binney St. development in 2015.

CBRE Joins Ownership of Facebook Offices in Cambridge

by Steve Adams time to read: 1 min
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