Eastern Bank has provided a $14-million loan to the Arts & Business Council of Greater Boston for its landmark purchase of the Western Avenue Studios & Lofts in Lowell, MA. The WASL complex includes 240,000 square feet of space, 250 work-only artist studios, 50 live/work studios, and a brewery, café and gallery. The Arts & Business Council of […]
Neighborhood and strip malls saw the highest rent growth in the second quarter, according to JLL’s latest report. Despite inflation headwinds that have presented challenges for shoppers, decreasing spending power and consumer confidence, JLL’s Q2 2022 Retail Outlook finds that retail fundamentals are solid, with net absorption remaining positive for six straight quarters, leasing hitting its highest number […]
Somerville’s planning board is meeting next month to consider the next step in developer US2’s nine-story life sciences building in Union Square. US2 has proposed a 280,000-square-foot mixed-use development with ground-level retail at 50 Webster Ave. The project would kick off the second phase of the USQ development, one of the most important components in […]
Me: Coffee next week? Friend: Sure! How about Wednesday? Friend: Hello? Friend: Are you free? Me: So sorry! I totally missed these. They got buried by texts from the pediatrician, the electrician and the dog groomer. No, those three people didn’t walk into a bar. Instead, they were congregating in my Messages app—along with texts about appointments, 20%-off sales, […]
In May 2022, the Federal Reserve’s Federal Open Markets Committee raised its Federal Funds rate by 50 basis points. In June, the Fed again raised the Federal Funds rate by another 75 basis points. And in mid-July, the Federal Reserve raised rates another 75 basis points. Analysts anticipate that the Fed will continue to raise […]
The life sciences sector continued to grow in the Bay State last year, adding another 12,000-plus workers and nearly 16 million square feet in real estate between 2020 and 2021. That’s according to a new report from the Massachusetts Biotechnology Council, the trade group better known as MassBio. UPGRADE TO NATIONWIDE ACCESS Get Industry Insights […]
When Wharton management professor Matthew Bidwell first came to the United States from England in the 1990s, he was struck by the dogged American work ethic. “It was a culture that was much more organized around work than in the U.K. When I was growing up, there wasn’t quite the same heroism about long hours,” he recalled, […]
A new ownership group is revising plans for a commercial development on the outskirts of Somerville’s Union Square, dropping a 330-room hotel while retaining a pair of office-lab towers. Capital Hall Partners, Spaulding & Slye Investments and Union Square master developer US2 are partnering on the 980,000-square-foot Gateway Innovation Center project at 200 McGrath Highway, […]
It has been a brutal half-decade for retail owners amid record-breaking retailer bankruptcies and a pandemic that brought in-person shopping to a temporary halt. But the fundamentals of retail real estate are looking better now that at any point in over a decade, according to a new report. Retail availability nationwide is at its lowest […]
JLL has arranged a $230-million construction loan for the development of 15 McGrath Highway, a speculative life sciences development totaling 262,000 square feet in Somerville, MA. Brett Paulsrud, Henry Schaffer and Mike Shepard of JLL represented DLJ Real Estate Capital Partners, Leggat McCall Properties and Deutsche Finance America to secure the non-recourse construction loan with Oxford Properties Group. “Greater Boston continues […]
