Deprecated: Required parameter $field follows optional parameter $post_id in /var/www/wp-content/plugins/advanced-custom-fields-pro/includes/acf-value-functions.php on line 57

Deprecated: Required parameter $field follows optional parameter $value in /var/www/wp-content/plugins/advanced-custom-fields-pro/includes/acf-value-functions.php on line 169

Deprecated: Required parameter $value follows optional parameter $key in /var/www/wp-content/plugins/advanced-custom-fields-pro/includes/ajax/class-acf-ajax.php on line 99

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6114

Deprecated: Required parameter $field follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-repeater.php on line 715

Deprecated: Required parameter $post_id follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-repeater.php on line 715

Deprecated: Required parameter $field follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-repeater.php on line 781

Deprecated: Required parameter $post_id follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-repeater.php on line 781

Deprecated: Required parameter $field follows optional parameter $name in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-flexible-content.php on line 1037

Deprecated: Required parameter $field follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-flexible-content.php on line 1073

Deprecated: Required parameter $post_id follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-flexible-content.php on line 1073

Deprecated: Required parameter $field follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-flexible-content.php on line 1125

Deprecated: Required parameter $post_id follows optional parameter $i in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-flexible-content.php on line 1125

Deprecated: Required parameter $field follows optional parameter $id in /var/www/wp-content/plugins/advanced-custom-fields-pro/pro/fields/class-acf-field-gallery.php on line 300
485 Massachusetts Avenue - ClearRock Properties

485 Massachusetts Avenue

Cambridge, MA

Project summary

Partner: Juster Properties

Cambridge, MA

Total SF: 40,000

Partner

Juster Properties

Property

  • Office & Ground Floor Retail
  • 40,000 SF

Timing

May 2011 – Current

Opportunity

  • Off market sale following a failed marketing process
  • Well located: corner avenue along Cambridge’s main thoroughfare, near MIT and adjacent to the Central Square “T” station
  • 100% leased at purchase with in-place rents 20% below market and outdated space
  • Property includes a separate developable parking lot that currently provides 45 parking spaces for the building
  • Core purchase with value add return potential due to pricing 50% below replacement cost and below market rents

Value Add / 
Execution

  • Irreplaceable location created opportunity out of tenant rollover
  • Allowed tenants to vacate, upgraded space and diversified the tenant base
  • Increased net rents by 30% while maintaining 100% occupancy
  • Additional capital improvements planned include: new elevators, upgrading the lobby and replacing the roof
  • Long term hold