Fairlane Properties has purchased nine office condominiums totaling 65,000 square feet at 1035 Cambridge St. in Cambridge.

The property, formerly known as 432 Columbia St., was purchased from Cambridge Business Center LLC for $5.52 million, and is located a few blocks from Inman Square in Cambridge and Union Square in Somerville.  In total, 1035 Cambridge St. contains approximately 120,000 square feet of office space. A new front parking lot providing access and frontage to Cambridge Street was recently completed. 

“Just like our 2007 acquisition of Chapel Business Center in Newton, this property is a hidden gem that we would like to reintroduce to the brokerage and tenant communities,” said Michael Grill, president of Fairlane Properties and leader of the newly formed Fairlane Columbia LLC. 

Ellie Fantini, Jennifer Ramsburg and Dan Krysiak of Grubb & Ellis will represent Fairlane Columbia LLC for the 30,000 square feet of available office space. Fairlane Properties has retained Lincoln Property Co. as property manager. Gregory Larsen of NAI Hunneman represented the seller and buyer in the transaction. Eastern Bank provided financing for the purchase.