By Anthony Russo Demand for office in Manhattan is picking up to levels not seen in 10 years as the sector continues to recover from the pandemic, according to the latest market report from Transwestern. Net absorption in the city exploded to 5.7 million square feet in the three months ending September- the highest levels seen in […]
By Phil Mobley, Chad Littell That asking office rents have actually risen in an era of historically high vacancy rates presents something of a conundrum to commercial real estate observers. Several factors help explain this phenomenon, but the rapid rise in consumer prices that peaked in 2022 is an important piece of interpretive context. After a slight […]
By Jon Chesto It took longer than expected,but The Davis Companies’ big bet on Watertown Square is paying off with the region’s largest lease deal for newly built lab space so far this year. Davis and its partner Boston Development Group just inked a deal with serial biotech entrepreneur Greg Verdine that would bring two of Verdine’s […]
By Andy Peters When the NFL in 2014 named Minneapolis host city for Super Bowl LII, local leaders realized they needed to create more public space for fans to gather before and after the big game. Though they didn’t know it, officials were also about to add credence to a high-stakes theory in commercial real estate […]
By Tim Logan CVS Health said Monday that it will lay off about 2,900 people amid pressure from investors to cut costs and improve its financial performance. And more dramatic changes could be coming soon. A spokesperson for the health care giant, which has long been based in Woonsocket, R.I., and operates health insurer Aetna in […]
By Greg Ryan A Boston-based real estate developer is proposing a 12-story, 227-unit residential building in Alewife, the Cambridge neighborhood that was put under a construction moratorium for more than a year out of fear it would be overrun by life sciences labs. Boylston Properties is hosting community meetings next week to discuss its plans to […]
By Greg Ryan CBRE Group Inc.’s investment arm has sold a shopping plaza in Cambridge’s Porter Square to two local firms for $20.1 million. Crosspoint Associates and Long Wharf Capital now own Porter Square Galleria, a 55,610-square-foot property anchored by a Target Corp. store. The plaza is 96% leased, with Retro Fitness, Citizens Bank and Anna’s Taqueria among its other […]
By Sam Doran and Sam Drysdale, State House News Service After years of debate, lawmakers finally came to an agreement to expand the number of alcohol licenses in Boston. There are 225 new licenses authorized in a compromise bill filed by House and Senate negotiators Tuesday afternoon, including 195 “restricted” licenses specifically marked for neighborhoods […]
By Hannah Green Last year, Massachusetts’ life sciences industry saw its slowest job growth since 2017 as the industry faced economic headwinds. The Bay State’s biopharma workforce consisted of 116,937 employees in 2023, according to the latest “Industry Snapshot” report put out by the Massachusetts Biotechnology Council, or MassBio, on Tuesday. The trade group found that […]
The Biosecure Act could ban Chinese biotechs and hurt Mass. drug developers. But some see an opportunity for local R&D.By Hannah Green Driven by concerns over national security, the federal government is weighing a crackdown on Chinese biotechnology suppliers that would have far-reaching effects in the life sciences industry. The legislation, known as the Biosecure Act, would prevent biotech […]
