Updates in the world of Commercial Real Estate
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 […]
If you’re looking to purchase a luxury condominium in the heart of Boston, chances are you’re not alone. The median price of a downtown condominium in Boston has reached an all-time high for the first quarter, rising to $537,000 for one unit, up 7% from last year’s first quarter when the median price was $500,000. […]
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 […]
A local food truck company plans to open their first restaurant in Somerville’s Magoun Square. This is a major move for Pennypackers, a small company which currently operates with two trucks, one in South Boston and the other near Boston University in Brookline. The company’s Facebook page states that the Somerville Zoning Board of Appeals gave the […]
After an alarming decline of 0.5% in March, retail spending has shown minor improvement in April, as sales showed a positive increase of 0.1% to $419 billion. In spite of this improvement, the Washington D.C.-based Conference Board predicts that the spring spending swoon will carry over to the summer. According to the Conference Board, the […]
A plan for the construction of a new commuter rail station in Brighton on the Worcester line received initial approval from the Massachusetts Department of Transportation’s Finance Committee on Tuesday. The new stop, which is estimated to cost 14 to 16 million dollars, is situated right next to New Balance’s proposed 235 million corporate headquarters. Boston […]
by Byron Chen In the first quarter of 2013, Boston’s Industrial market has shown marked improvement in several areas when compared with data drawn from 2012. The market ended with an overall vacancy rate of 10% at the end of the quarter, decreasing from 10.4% at the end of the 4th quarter of 2012. The […]
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 […]
Real Estate search engine Trulia has announced that it will acquire CRM provider Market Leader for around $355 Million. Trulia has approximately 46,000 “premium subscribers” which is more than its biggest competitor Zillow. Announcing the news on its blog, Trulia CEO Pete Flint said: We are very excited to announce that Trulia has entered into a definitive agreement to acquire Market Leader, Inc. (NASDAQ: […]
