By John Gittelsohn The value of distressed US commercial real estate neared $80 billion in the third quarter, its highest level in a decade, as rising interest rates and sagging office demand shook the property market. The value of buildings in bankruptcy, repossessed by lenders or in the process of liquidation increased by a net $5.6 […]
By Greg Ryan The Healey administration on Wednesday is expected to put forward sprawling $4 billion legislation meant to narrow the massive supply-demand gap in housing in Massachusetts, a bill that includes a controversial proposal to empower cities and towns to impose a fee on real estate transactions over $1 million. Gov. Maura Healey and her […]
By Charlotte LoBuono The Massachusetts Biotechnology Council, the nation’s oldest biotech trade association, released its 2023 Industry Snapshot on September 6. The report found that biotech and pharmaceutical companies in Massachusetts added more research and development and biomanufacturing jobs than in most other states in 2022. The biopharma R&D workforce in Massachusetts had a year-over-year growth rate of 8.5% […]
By Grant Welker It wasn’t long ago that the Prudential Tower stood out as one of a small handful of buildings in Boston’s skyline to carry a company name or logo. The insurer’s all-caps name across the top of the Back Bay office tower continues to be a city landmark. But today when you look out […]
By Alexander Berger, Trevor Hoffmann and Rajinder Saini Amid soaring interest rates and the recent swell in commercial real estate loan workouts, borrowers and lenders alike are increasingly considering an alternative to the traditional and sometimes long and cumbersome foreclosure process: a deed in lieu of foreclosure (often referred to as just a deed in lieu). […]
By Lucia Maffei A startup based in Littleton is attracting the attention of one of the U.S. government’s investors to solve a problem that’s both unsexy and inevitable: the increased heat generation and water and electricity consumption in data centers supporting rapidly rising technologies such as advanced AI. The startup is JetCool Technologies Inc., an MIT […]
By Lucia Maffei iRobot Corp. shareholders voted on Thursday morning to approve the revised merger deal with Amazon.com Inc., which comes with a 15% price decrease announced over the summer. “We are pleased that our stockholders have overwhelmingly voted to approve the amended merger agreement between Amazon and iRobot,” said Colin Angle, chairman and CEO at iRobot, in […]
By Grant Welker Milena Pagán graduated from MIT in 2011 with a degree in chemical engineering. She’s about to return to the neighborhood — to open a bagel shop as an acclaimed chef. Pagán spent some years in the corporate world but appears to have found her calling in restaurants. Pagán was a semifinalist this year […]
By Richard Berger A RealPage analysis of the apartment market fundamentals this week explains how the industry continues to rebound in 2023 even during this flat-rent period. “It’s rent disinflation without demand destruction,” according to the report. “Why? Supply, supply, supply.” Apartment completions in Q3 soared to the highest levels since the 1980s. But “it’s […]
By Catherine Carlock A low-lying industrial area in Charlestown — an area just a few miles from downtown yet far enough off the beaten path that it’s home to a pub called the Tavern at the End of the World — is poised for major transformation ahead of a crucial city vote this Thursday. The […]
