Updates in the world of Commercial Real Estate
Things are not going well for party good retailer iParty Corp. In early November, iParty Corp. reported sales of $16.4 million for October, a 6.5% drop from total sales from the same period last year. Furthermore, the retailer recently received a compliance notice from the NYSE due to the company’s extremely low selling stock price. […]
PNC’s annual gift CPI is out and Christmas is as expensive as ever! One partridge in a pear tree: $204.99 (Up from $184.99 in 2011) Two turtle doves: $125.00 (No change from 2011) Three French hens: $165.00 (Up from $150.00 in 2011) Four calling birds: $519.96 (No change from 2011) Five gold rings: $750.00 (Up […]
Last week, the Federal Housing Administration made headlines when it ended September with $16.3 billion in projected losses. Now some officials are speculating that the Administration will need a taxpayer “bailout” by the US Treasury. The FHA is required to hold cash in reserve to cover its liabilities—the mortgages it ensures. However, the housing recovery […]
French inspired British sandwich chain Pret A Manger is set to open its first two stores in Boston this week. The first store, located in the Financial District at 185 Franklin Street, opens November 14th. The second, located in the Back Bay at 507 Boylston Street, opens on the 15th. The chain, which was […]
Hanover Co., a Houston-based developer, has its sights set on Boston. The developer announced that it will break ground on two apartment complexes by the year’s end. The developments, one in Boston and the other in Cambridge, are the newest additions to Boston’s ever-changing skyline. The Cambridge development, a 398-unit apartment complex, will commence next […]
iParty Corp. reported sales of $16.4 million for October, a 6.5% drop from total sales from the same period last year. The party goods retailer has attributed loses to a week economy and hurricane Sandy, which affected retailers in the New England area. In response to these figures, iParty has outsourced and hired an investment […]
Say goodbye to Johnnie’s Foodmaster, a supermarket chain founded in East Cambridge in 1947. Last week it was confirmed that all 10 Foodmaster supermarkets are closing. After 65 years in business, doors are set to close on November 30th. Reports that Whole Foods Market would purchase 6 of the 10 leases the Foodmaster chain held […]
The Back Bay’s skyline may have its newest edition—a 33-story hotel and residential dubbed 40 Trinity Place. The plans for the complex were unveiled Tuesday by prominent real estate developers Trinity Stuart LLC, a local development partnership comprised of Jordan Warshaw, Gary Saunders, and Jeffrey Saunders.. The project will include a 220-room hotel, 142 units […]
Boston’s technology community thrived in the 1980s and 1990s. Tech-startups in the area were unparalleled in the United States and Boston benefited economically from rapid growth within the technology industry. Today, well known venture capitalist Brad Feld believes that Boston is once again effervescent with opportunity. Sponsored by the New England Venture Capital Association, Feld […]
Zynga, a social game provider based in San Francisco, CA, has announced the closure of its Boston office as well as a 5% decrease in its full time work force of 2,900 employees. Reductions are part of a cost-cutting campaign the company has undergone due to recent declines in earnings. The company has also cut […]
