MIT Acquires Retail Property In Kendall Square, Cambridge For $5M

The retail property located at 266 Massachusetts Avenue in Kendall Square, Cambridge, has been sold in a transaction that took place on 06/07/2021. The property, spanning 6,079 square feet, was sold by Sunoco LP to MIT for a total sale price of $5,000,000. This equates to a price per square foot of $823. The deal was facilitated by brokers Ami Cipolla and Andrew Jacob from Atlantic Retail. It is important to note that this transaction is a Sale Leaseback.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $5,000,000
• Square Footage: 6,079
• Address: 266 Massachusetts Avenue
• Market: Kendall Square, Cambridge

Ami Cipolla and Andrew Jacob, representing Atlantic Retail, played a key role as brokers in this sale. Their expertise helped facilitate the transaction between Sunoco LP and MIT, resulting in the successful acquisition of the retail property.