Liability insurance provider Coverys announced that as part of their expansion, they are relocating their Boston headquarters to One Financial Center in South Station. Coverys signed a 15-year lease for 60,000 square feet of office space in the 46-story, 1.3-million-square-foot tower. The company currently occupies 49,000 square feet at 101 Arch Street. They are expected […]
Multi-Employer Property Trust, a pension-backed fund based in Washington D.C. recently announced that Burlington Centre, a 620,000 square foot office park in Burlington, is officially on the market. MEPT first bought the property in 1991 for $21.3 million, and the property’s sale could net as much as $100 million. With the continuous expansion of the […]
In less than a week from now, the massive redevelopment project of NorthPoint will take a major step forward. The ceremonial groundbreaking of one of the project’s apartment towers is scheduled for Wednesday May 29th. Located on a 45-acre parcel of land in Cambridge at the edge of the Charles River, the property is expected […]
by Byron Chen After the first quarter of 2013, Boston’s Retail market experienced minimal change in market conditions. The retail market saw its vacancy rate decrease from 4.4% at the end of 2012 to 4.3% at the conclusion of this most recent quarter. Vacant sublease space has trended down as well this quarter, finishing with […]
Millennium Partners announced it has signed a lead tenant for the Burnham Building redevelopment at the former Filene’s department store, this will help fill in a piece of the puzzle for Boston’s Downtown Crossing redevelopment. Arnold Worldwide will take occupancy of 125,000 square feet of office space at the Burnham Building in September 2014. The Burnham Building […]
Recently, the positive change in commercial cap rates could be attributed to the recovery of credit markets. Low cap rates and weak fundamentals have lead many to question the Fed’s low interest rates. These low rates may be excessively raising commercial prices. In a quote from FRBSF, “It’s true that cap rates are at historic […]
The Center for Medical Simulation has found a new home in Boston’s Charlestown Navy Yard. The leased space is approximately 13,000 square-feet of office space and is located at 100 First Avenue. The historic property is also known as the Carraige House. Although the terms of the deal were not disclosed, a report from Cassidy […]
Quarter 4 figures are out and Boston’s office market ended the quarter with a vacancy rate of 9.9%. The vacancy rate decreased from 10.2% during quarter three, indicating a higher demand for office space in the Boston area. In the first quarter of 2012, vacancy rates stood at 10.8% and have continued to decline steadily since. In […]
Raymond Property Co. recently sold its headquarters in Boston’s Back Bay for $14.5 million
In the past years, the commercial real estate market has experienced a multitude of changes in response to poor economic conditions. Tenants, particularly large public firms, have been downsizing to cut costs. Office spaces are changing to accommodate downsizes. For example, non-dedicated offices and flex spaces are being utilized to diminish costs. In addition, Norm […]
