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Draper buys Cambridge lab condo units for $45M from Alexandria
The deal follows Alexandria’s 2025 plan to sell part of the property to cut its construction pipeline, with the units previously bought for $120M in 2022.
A research and development nonprofit has acquired four life sciences lab condominium units in Cambridge’s Kendall Square from Alexandria Real Estate Equities, according to an Aug. 24 deed record reviewed by Bisnow.
Draper purchased the 105,000 square foot building’s third and fourth-floor units at 1 Hampshire St. for $45M. The REIT previously bought the units in 2022 for $120M, while Schlumberger still holds space on the first and second floors.
Alexandria announced its intent to sell its portion of the property in the fourth quarter of 2025, citing efforts to reduce its construction pipeline and focus on its megacampuses. Draper also already owns space in the building on the fifth through seventh floors, and on lower floors, where it has been expanding locally.
Bisnow also notes that Draper received $25M in state and local funding for a $100M microelectronics facility at the University of Massachusetts Lowell campus in 2025 and broke ground on the project in April. Alexandria owns roughly 9.3M square feet across Greater Boston and had 566K square feet under development as of the second quarter of 2026.