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 […]
A clear number for how many people Twitter is laying off in Boston is finally emerging, after a week of speculation following Elon Musk‘s $44 billion takeover of the company, thanks to an official state document obtained by the Business Journal. The social media giant told state officials on Friday that it will be conducting a […]
Cambridge, MA – Construction is underway for 605 Concord, a mixed-use transit-oriented development that will deliver 49 apartment units above 2,500 square feet of street-level retail space to the Fresh Pond neighborhood. The construction manager is Needham, MA-based Nauset Construction, and the developer is Acorn Holdings LLC. The development is conveniently located near public outdoor […]
Some were booming before the Covid-19 pandemic hit. Others shot up in popularity arguably because of the pandemic. A few have been slow-but-steady-growth markets for some time. The national housing market slowdown has been one of the headlining stories of 2022, after a spike in mortgage rates in the spring turned the heat off what […]
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 […]
Massachusetts chain stores may be allowed to have 18 beer and wine licenses by 2031, which would double the current threshold should a ballot referendum succeed at the polls this November. Advancing Ballot Question 3 would gradually raise the alcohol license threshold for retailers, initially to 12 licenses in 2023 and to 15 licenses in […]
U.S. consumer inflation excluding energy and food accelerated to a new four-decade high in September, a sign that strong and broad price pressures are persisting. The Labor Department on Thursday said that its so-called core consumer-price index—which excludes volatile energy and food prices—rose 6.6% in September from a year earlier, the biggest increase since August 1982. […]
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- […]
