ABG Commercial Real Estate Blog
Local Boston & Cambridge Commercial Real Estate News from Industry Experts.
Boynton Yards Celebrates Opening of First Purpose-Built Life Sciences Lab in Somerville
By Boston Real Estate Times Somerville, MA – The development venture of DLJ Real Estate Capital Partners (DLJ), Leggat McCall Properties (LMP) and Deutsche Finance America (DFA) joined the City of Somerville and Flagship Pioneering companies to cut the opening ribbon...
Take a look at Rise Together’s vision for Sullivan Square
by Greg Ryan / via Boston Business Jornal Rise Together and Trax Development on Friday offered a more detailed look at plans for a mixed-use development of nearly 1 million square feet in Charlestown’s Sullivan Square, one of three projects the development team is...
Pickleball, virtual golf, skydiving, craft beer: How malls are luring shoppers
by Parija Kavilanz / via CNN Business As Covid restrictions ease, expect to see more malls morph into family entertainment destinations where shopping may not even be what draws shoppers in. Retail analysts say it's become necessary for mall operators to diversify the...
U.S. Economy Grew Modestly Amid Omicron Surge, Fed Beige Book Says
by Bryan Mena / via the Wall Street Journal The U.S. economy grew at a modest to moderate pace from mid-January through early February as the Omicron variant of Covid-19 disrupted businesses and held back consumer spending, the Federal Reserve said Wednesday. The...
Here are the Boston tech firms that added jobs the fastest in 2021
by Lucia Maffei / via The Boston Business Journal When the pandemic first hit, tech companies as well as other businesses put hiring down on their list of priorities. But last year, hiring came back and the majority of large tech employers in the state recruited new...
One Congress Close to Landing Second Big Tenant
by Steve Adams / via Banker & Tradesman A lease by a second major tenant could fill up the 1 million-square-foot One Congress office tower at Boston’s Government Center well before its scheduled completion in January. Developers of the 600-foot tower and future...
Mass. biopharma investment shatters records for second straight year
by Rowan Walrath / via The Boston Business Journal For the second straight year, the amount of venture capital that was poured into Massachusetts-based life sciences companies has eclipsed all previous fundraising records, ringing in at $13.66 billion in 2021....
Real-Estate Venture Boom Is Tested by Stock Market’s Slide
by Konrad Putzier / via The Wall Street Journal Property startups emerged as one of the hottest tickets for venture investors during a record-breaking 2021. The recent stock-market selloff is testing the limits of that boom. Real-estate companies collected $12.2...
Yes, Lenders Are Interested in Financing Retail Properties
via wealthmanagement.com / by Jenn Elliot Mortgage bankers and lenders across the U.S. want real estate owners to know one very important fact: debt is widely available for retail properties after a couple of years of being hard to come by. “People are still trying to...
Framing & Electrical Wiring Underway on 94-Unit Union Square Development
via bldup.com Framing is underway on 346 Somerville Avenue with a permit issued for complete wiring on the multifamily project. Plans call for a 94 residential unit building with 2,470 SF of ground-floor retail near Union Square in Somerville.
Portion of Cambridegside Site Sold for $156M
via bldup.com Safehold has acquired the 20 Cambridgeside Place condo unit with the Cambridgeside Mall site for $156,435,583.82. Work is currently underway for the transformative redevelopment of the full site to create around 650,000 square feet of office, life...
CommonWealth Kitchen buys Dorchester building for $7M
by Greg Ryan / via Boston Business Journal Jen Faigel, the executive director of the food-business incubator CommonWealth Kitchen, has long wanted the nonprofit to own its building in Dorchester, rather than rent space there from the Dorchester Bay Economic...
Apartment Owners Lean Into Technology To Meet Energy Targets
From green rooftops to energy reporting software, technology is playing a starring role in helping apartment owners meet aggressive ESG targets. by Kelsi Borland / via Globe St When BlackRock CEO Larry Fink called climate change an “existential crisis” in an open...
Fed policymakers call for bigger rate hikes to fight inflation
by Lindsay Dunsmuir and Ann Saphir / via reuters.com Federal Reserve officials are helping shape market expectations for sharper interest-rate hikes to curb the surge in inflation, but have not managed to dispel fears the tightening cycle could blow a hole in the...
Decades in the making, Green Line Extension to Somerville’s Union Square finally opens for passengers
by Taylor Dolven / via The Boston Globe It was 2004. Around 300 people filled a State House auditorium fired up and furious about the stalled Green Line Extension project to Somerville and Medford. It had been promised since 1990 and no shovels had yet hit the ground....
Innovative building materials help moderate temperature year-round
by Ben Knight / via UNSW Sydney Newsroom The next generation of supercooling materials can help keep cities cooler in summer and warmer in winter. A team from UNSW Sydney has developed new intelligent building materials that can help keep the temperature in check...
Building Smart Cities One Smart Building At A Time
via Startup Info Densely populated cities are facing a plethora of tough challenges as their populations continue to rise. As more people migrate to urban locations the available resources, space, and medical coverage become more limited. Luckily, there are modern...
Carnegie Mellon University’s high school cybersecurity hacking competition picoCTF begins
by Nate Doughty / via The Business Journals Carnegie Mellon University's free picoCTF competition, which claims to be the largest high school cybersecurity hacking event in the country, officially kicked off on Tuesday. And while its signature and...
BREAKING NEWS: Fed raises rates and projects six more increases in 2022.
by Jeanna Smialek / via The New York Times The Federal Reserve lifted its key interest rate by a quarter of a percentage point on Wednesday as policymakers took their first decisive step toward trying to tame rapid inflation by cooling the economy. The Fed had kept...
Wynn to sell Encore Boston Harbor real estate for $1.7B
by Gary Higgins | via Boston Business Journal Wynn Resorts plans to sell the land and real estate of Encore Boston Harbor to Realty Income for $1.7 billion in cash, but will continue to operate the casino. Wynn (Nasdaq: WYNN) said the sale-leaseback deal of its...
Encore Boston Harbor to open casual, Italian-style eatery
by Grant Welker | via Boston Business Journal Two veteran restaurateurs in the North End, Frank DePasquale and Nick Varano, are joining for a second eatery at Encore Boston Harbor. The new venture, called Frank & Nick’s, will be part of the Everett casino’s new...