Inflation and fast-rising interest rates are taking their toll on commercial real estate transactions in Greater Boston. Real estate investors bought $4.6 billion in commercial properties in the Boston metro area in the third quarter, a 27% decline from the same three-month period in 2021, according to new data from MSCI Real Assets. It’s only […]
MetLife Investment Management has completed its $103 million purchase of Burlington BioCenter, a 109,085-square-foot life science research and pharmaceutical manufacturing facility in Burlington, Mass. Public records show MetLife financed the acquisition with a $54.4 million loan from Northwestern Mutual. Newmark represented the seller, a joint venture between The Gutierrez Company and GEM Realty Capital, and procured the buyer. The partnership had […]
U.S. life sciences real estate showed signs of normalizing in this year’s third quarter after setting records in 2021, CBRE says in a new report. Nonetheless, market fundamentals surpass those from before the pandemic. The average lab vacancy rate across the top 12 U.S. life sciences hubs increased to 5.3% in Q3, up 30 basis points […]
ARLINGTON, Wash. (AP) — Eviation Aircraft, an Arlington company that has built a fully electric commuter airplane, got a boost this week when one of the nation’s largest commuter airlines, Cape Air, signed a letter of intent to buy 75 of the Eviation Alice model. The nine-passenger airplane, which produces no carbon emissions, is expected […]
Boston, MA Breakthrough Properties (Breakthrough), a leading global developer of life sciences real estate, celebrated the completion and grand opening of The 105 by Breakthrough (The 105) in collaboration with CRISPR Therapeutics. The new facility is fully leased to CRISPR Therapeutics and will serve as its new U.S. research & development headquarters. Located in one of […]
As the world’s climate continues to heat up, the global demand for air conditioning is now skyrocketing. In 2019, the need for cooling drew in 8.5% of the world’s total electricity consumption, equating to some 1 billion tons of CO2 emissions. As more air conditioning units draw ever more power each year, we now appear trapped […]
As the life sciences industry moves out of the spotlight of the Covid-19 pandemic and into a new era, a fierce cohort of women founders and executives is leading the way. Women still make up a small fraction of board members and C-suite executives in the life sciences industry. A report last month from Cambridge- […]
GI Partners has acquired Blackstone Science Square, a fully leased lab building in Cambridge, MA on behalf of its Essential Tech + Science Fund. According to GI Partners, Blackstone Science Square offered it the opportunity to acquire a stabilized, highly functional lab building situated in one of the country’s largest life sciences markets. The 77,000-square-foot property […]
Kittyhawk, the air-taxi company backed by billionaire Google co-founder Larry Page, will be closing down, dealing a setback to the long-elusive dream of developing flying cars. “We have made the decision to wind down Kittyhawk,” the company said on Twitter Wednesday. “We’re still working on the details of what’s next.” In 2019, Kittyhawk and Boeing […]
President Joe Biden is infusing billions of dollars into a new, biotech-focused initiative, and it’s likely to have immediate ramifications for New England. Boston has long been a hotbed for pharmaceuticals in addition to upstart biotechs. But the White House is expanding the definition of what a “bioeconomy” could be, looking beyond drugmaking to other applications of […]
