By Justin Baer, Gina Heeb and Lauren Thomas New York Community Bancorp is raising more than $1 billion from a group of investors including former Treasury Secretary Steven Mnuchin, in a bid to shore up confidence in the troubled regional lender. A group led by Mnuchin’s Liberty Strategic Capital, Hudson Bay Capital and Reverence Capital Partners and including Citadel and some of […]
By Greg Ryan One of Boston’s busiest architecture firms is getting serious about cutting down on the carbon footprint of the materials used in their buildings. Gensler recently rolled out sustainability standards that manufacturers must meet for a dozen common construction materials such as gypsum board, interior latex paint and carpet tile. If a material does not meet […]
By Ashley Fahey A preference for the newest, so-called “trophy” office space has been frequently cited as a key driver of corporate decision-making when it comes to business sites, especially since the Covid-19 pandemic. That preference may ultimately be less about which buildings offer the best fitness or conference centers and instead be more about where […]
By: Emily Fu North River Leerink (NRL) has announced that 100 Chestnut, a purpose-built 200,000 square feet life Science building in Somerville, MA, is 90% leased. Ultragenyx, relocating from Kendall Square, has leased 42,500 square feet to consolidate their east coast R&D. CRADL has leased 16,000 square feet to open a contract vivarium and in […]
By Grant Welker There isn’t enough new housing being built in the Boston area to suddenly make the region affordable. But builders are finding places to build — mainly in former industrial pockets in such places as Everett and South Boston, as well as relatively less-dense neighborhoods in Allston and Quincy. Residential developments now under construction […]
By Andy Medici Small businesses are increasingly optimistic about the future, at least according to a survey by CNBC and SurveyMonkey, and there are several new business grant opportunities in March that can help them capitalize on growth opportunities. It found about 28% of small-business owners said the economy was currently “excellent” or “good,” up from 23% […]
By Rachel Siegel, Lauren Kaori Gurley and Meryl Kornfield Immigration has propelled the U.S. job market further than just about anyone expected, helping cement the country’s economicrebound from the pandemic as the most robust in the world. That momentum picked up aggressively over the past year. About 50 percent of the labor market’s extraordinary recent growth came from foreign-born […]
By Marian Zboraj Sprouts Farmers Market Inc. has high expectations for 2024. Amid the release of its impressive results for its fourth quarter and fiscal year ending Dec. 31, results, the specialty grocer released its outlook for the year. The outlook includes net sales growth of 5.5% to 7.5%, comparable-store sales growth of 1.5% to […]
By Trefor Moss Many malls are struggling but IKEA is betting it can breathe new life into the troubled format. Ingka Group, the operator of most of the world’s IKEA stores, has assembled its own mall empire in recent years, spanning from China to Europe to the U.S., and says it wants to buy more locations […]
By NEREJ Somerville, MA According to Rafi Properties, owner and operator of Somernova, the 7.4-acre innovation campus and community dedicated to helping people and companies iterate and grow faster, Sublime Systems (Sublime) will expand their headquarters on the campus. Sublime, the leading developer of a fossil-fuel-free, scalable, drop-in replacement for traditional cement in concrete, will add […]
