485 Massachusetts Ave
Cambridge, MA

On August 17th, 2007, an affiliate of Meritage Properties purchased 485 Massachusetts Avenue, a 36,412 square foot, 5-story office building which includes 43 surface parking spaces. The Property is located within Cambridge’s Mass Ave Corridor submarket, which has historically been both robust and cycle-resilient, due to proximity to both Harvard and MIT. The special dynamics of this particular submarket contribute to a high demand for lab space and increasing displacement of office tenants, resulting in relatively strong office rents and relatively low vacancy rates.

In addition to its unparalleled location, 485 Massachusetts Avenue features an attractive and efficient 7,000 sf floorplate, affording tenants 10 foot ceiling heights, and an exceptional window line. The property also includes an outstanding corner retail location, totaling 6,200 square feet. In addition to implementing an aggressive marketing and leasing campaign for both our office and retail availabilities, we also will be executing an extensive capital improvement plan for the building which includes:

• New retail store fronts
• Full lobby renovation
• Elevator cab upgrades

Building renovations will commence prior to year end and should be completed by early 2008.

For Further Information Contact:

Meritage Properties - Ownership
(Owner) (914) 723-3533

Lincoln Property Company
Sarah Barber - Property Management
(617) 542-6818

Jones Lang LaSalle
John Osten - Leasing
(617) 531-410