CB Global Investors has acquired 125 and 150 Cambridgepark Drive in Cambridge from Blackstone’s Equity Office division for $163 million, double the price the properties sold for in 2011.

The deal is the latest reflection of investors’ confidence in the Alewife office and lab market, which is being positioned as a transit-friendly alternative to Route 128 with rents about a third lower than the red-hot Kendall Square area. The purchase price works out to $347 per square foot.

Blackstone acquired the two properties in 2011 for $81.5 million, when only 48 percent of the 470,000-square-foot office space was leased. It launched a multi-million-dollar renovation program designed to attract new tenants and compete with tech hubs such as Kendall Square, adding amenities such as a Whole Foods cafe, fire pits and a bocce court. Since then, the complex near the Alewife MBTA station has attracted new tenants including BitSight Technologies, online payment company MineralTree and Intuit’s QuickBase division, which relocated from Waltham in 2013.

The complex’s occupancy rate is more than 90 percent.

When Blackstone bought the properties in 2011, class A office rents in Alewife were averaging $28 per square foot. As of Sept. 30, rents had risen to $42 and the vacancy rate was 11.8 percent, according to Avison Young research.

In July, Waltham-based developer King Street Properties acquired a pair of vacant former Pfizer lab buildings at 87 and 200 Cambridgepark Drive for $54.5 million and is spending $57.5 million on a repositioning project. Watertown-based Dicerna Pharmaceuticals leased 37,186 square feet at 87 Cambridgepark Drive and will relocate from Watertown.