MIT is hoping to sell the complex at a time when the Bay State's hot investment market is at a peak. The property's tenants, Novartis AG, Dyax Corp., TolerRx Inc., Forrester Research Inc., are some of the top names in the bio-tech field. The property also has about 17,000 sf of first floor retail space. MIT purchased the property in 2001 for $279 million and repositioned it from an office park into as a bio-science facility to capitalize on the region's growing life science industry.

Robert Griffin, president of Cushman & Wakefield of Massachusetts, which is marketing the Main Street property, tells GlobeSt.com that MIT wants to either sell all of the property or find a partner to invest in the buildings. "They're talking about a recapitalization, but will maintain their interest in the property as a ground lease. They are going to keep an interest in it no matter what happens."

Weeks before the property is officially listed for sale, Griffin says he has been contacted by investors. "It's an unusual opportunity to make a significant investment in the technology and life science area. It is in the heart of the life science capital of the East and next to one of the best technology schools in the nation. I think there will be a lot of interest based on that alone." Steven C. Marsh, managing director of real estate for MIT Investment Management Co., could not be reached by GlobeSt.com in time for deadline.