Totals

Total Square Footage 836,401
Total Dollar Volume $95,000,000.00

General

Established 1959
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Phone Number 617-782-2600

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Intercontinental provides a full spectrum of real estate investment and management services including due-diligence, acquisitions, finance, asset and portfolio management, development and construction management and dispositions. Intercontinental's foundation is built on the deep experience and tenure of its principals and senior managers. Intercontinental maintains a culture of significant co-investment and strictly adheres to a conservative process of investment analysis. Intercontinental strives to achieve investment results over many real estate cycles while often dealing with complex opportunities that require creativity and vision, flexibility, persistence and discipline.

Updates

955 Massachusetts Avenue
- Apr 09, 2020

955 Mass. Ave. Trades for $101M Intercontinental Real Estate Corporation has acquired 955 Mass. Ave in Cambridge for $101,250,000 in a transaction dated 3/19/20. The 8-story, 95,000 Class A office building was built in 2001 and was previously purchased by DivcoWest in June 2017 for $66M.   


4 Blackfan Circle
- Oct 03, 2019

Reno Permit Pulled for Lab Space at 4 Blackfan Circle A building permit has been pulled for renovations to lab space on the 8th & 9th floors of 4 Blackfan Circle. The permit, valued at $1.17M, calls for MEP and architectural upgrades. 


4 Blackfan Circle
- Jun 14, 2018

Intercontinental Real Estate Corporation Acquires Majority Stake of 4 Blackfan Circle for $95 MillionAllston-based, Intercontinental Real Estate Corporation has acquired a majority stake of 4 Blackfan Circle located in the Longwood Medical Area of Boston and owned by Harvard for $95 million. The acquisition was funded via TD Bank.  Harvard’s space will be occupied by various HMS departments or subleased to third-party tenants. The sale transaction has been structured as a 99-year, unsubordinated leasehold interest between Harvard and Intercontinental Real Estate Corporation.The property features a 192,140 square-foot condominium interest in 4 Blackfan Circle – a first-class life science research facility that comprises 270,281 square feet and is physically connected to the Longwood Medical Area campus of Harvard Medical School (“HMS”). The condominium interest is 100% leased to Harvard, Brigham and Women’s Hospital and the Dana-Farber Cancer Institute. The property also features a basement level, two animal behavior corridors and access to approximately 115 below-grade parking spaces (0.6 per 1,000) located in the adjacent building which will continue to be owned by Harvard.


1280 Massachusetts Avenue
- Dec 07, 2017

Fully-leased Harvard Square commercial property sells for $45.15 million Boston Residential Group has sold 1280 Massachusetts Avenue, a 100%-leased commercial building located in Harvard Square, to Intercontinental Real Estate Corporation for $45.15 million. The sale amounts to approximately $1,047 per square foot. CBRE/New England's Capital Markets team represented Boston Residential Group in the transaction and procured Intercontinental as 1280 Massachusetts Avenue's buyer. Originally developed by Boston Residential Group in 1985, 1280 Massachusetts Avenue is located in the heart of the booming Cambridge market, which boasts rapidly growing rents, an office vacancy rate of just 2.4% and an average office rent of over $68 per square foot per Lincoln Property Company's latest Cambridge Office & Lab Market Report. “[Cambridge] is arguably the center of the universe for Life Sciences and the home obviously of Harvard and MIT universities, said Peter Palandjian, Chairman & CEO of Intercontinental, in a prepared statement. “Now more than ever, it has become an incredibly vibrant and energetic market.”


Intercontinental Allston Campus
- Apr 20, 2017

Intercontinental expands Allston campus with $3.7 million land acquisition Real estate developer and investor Intercontinental Real Estate Corporation has expanded its’ Allston headquarters campus to 1.1 contiguous acres with the acquisition of 0.8 acres from Harvard University for nearly $3.7 million. The land’s exact sale price is $3,665,000, amounting to over $4.5 million ($4,581,250) per acre. The land acquired, located between Soldiers Field Road and Western Avenue, is primarily comprised of surface parking, with an 8,550 square foot commercial building facing Western Avenue.


Canal Park Cambridge
- May 10, 2016

Intercontinental Real Estate Corporation buys East Cambridge buildings for $304 millionCanal Park Cambridge, a 428,000 square foot development consisting of three office and retail buildings located along Lechmere Canal Park in East Cambridge, has reportedly sold for $304 million. The sale was reported this morning by The Boston Globe. Deeds were recorded in the Middlesex South Registry of Deeds this afternoon for 1 and 2 Canal Park; the sale of 10 Canal Park has not yet closed. 1 Canal Park sold for $72,260,800; 2 Canal Park sold for $154,371,200. A locus map of Canal Park Cambridge is posted above.Canal Park Cambridge's buyer is Intercontinental Real Estate Corporation of Boston. The seller, Beacon Capital Partners, acquired the development in 2014 for nearly $170 million. Key tenants at Canal Park Cambridge include CarGurus (48,000 square feet), HubSpot (60,000 square feet) and Philips (48,000 square feet).The following is the deed for today's sale of 1 Canal Park:The following is the deed for today's sale of 2 Canal Park:More information about Canal Park Cambridge is posted below.


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Projects

4 Blackfan Circle
1280 Massachusetts Avenue
955 Massachusetts Avenue
Intercontinental Allston Campus
Canal Park Cambridge