Two local properties — 38 Chauncy St. in Boston and the Fresh Pond Shopping Center in Cambridge — are having markedly different effects on a $780 million portfolio of mortgage securities packaged and sold by GE Commercial Mortgage Corp. in 2002. The local office and retail properties were highlighted in a recent Moody’s Investors Service […]
Restaurants — even the nonchain variety — have become prized tennants for many shopping center operators. As the retail real estate industry transforms in the wake of the recession, mall and shopping center owners are building relationships with the kinds of tenants they might have ignored 5 or 10 years ago. BUILT-IN FANS: Michal Holleb […]
A&P, the troubled grocer, filed for Chapter 11 bankruptcy protection Sunday, weighed down by a crushing debt load and competition from low-price rivals. The Montvale, N.J.-based grocery-store chain—formally called the Great Atlantic & Pacific Tea Co.—listed total debts of more than $3.2 billion and assets of about $2.5 billion in a petition filed in bankruptcy […]
Best Buy Co. Inc. is offering the iPhone 3GS for free on Friday, breaking new ground in discounting of Apple Inc. products. It’s not the latest version of the popular smartphone and it doesn’t have enough storage at eight gigabits for those who want to load up a lot of pictures and songs. The deal […]
Moe’s Southwest Grill has announced plans to expand locally. Moe’s is adding nine new locations to its existing five in the Greater Boston area. Paul Damico, President of Moe’s Southwest Grill, said in a written statement that the expansion will create at least 25 jobs at each new location and drive much-needed traffic to neighboring […]
A.J. Wright is closing 71 of its stores, according to the parent company, TJX Cos. Inc., including one on Central Avenue in Albany, N.Y. The Framingham, Mass.-based discount clothing and home accessories retail chain (NYSE: TJX) did not disclose what would happen to the remaining two A.J. Wright stores in the Albany, N.Y., area. A […]
At a time when budget stress is wreaking havoc at all levels of government, the city of Somerville is preparing a $25 million bet on a speculative, $1.2 billion real estate development that, under the rosiest of forecasts, is unlikely to be completed for another decade. The gamble, in dollar terms, would equate to more […]
QUINCY — The company proposing to redevelop Quincy Center has reached a handshake agreement with a local labor council that governs the extent to which the project will be built by union workers. The agreement, between Street-Works LLC and the Quincy and South Shore Building Trades Council, was reached after a five-hour negotiating session Thursday […]
Caliper Life Sciences Inc. is paying $20 million to acquire Cambridge Research & Instrumentation Inc. (CRi), a developer of optical imaging systems, according to a news release from the two companies today. The buyout deal calls for Caliper to issue $10.5 million in a common stock offering, pay $7.5 million in cash and take in […]
Adding detail to an announcement from earlier this week, the Deshpande Foundation and a coalition of colleges and non-profit groups said today that a planned entrepreneurship center based at the University of Massachusetts Lowell will be called the Merrimack Valley Sandbox, and that it will be funded with $5 million from the Deshpande Foundation over […]
