Updates in the world of Commercial Real Estate
People’s United Financial Inc. bought its third Massachusetts bank in less than a year yesterday, the $493 million purchase of the parent of Danversbank, which has 28 branches from Needham to Manchester-by-the-Sea. The deal would make the Bridgeport, Conn. company the seventh largest bank in Massachusetts and the Boston metro area. In April it took […]
Chicago-based Equity Residential wants to replace the Garden Garage across from the TD Garden with 500 new apartments by fall 2015. Under the $300 million plan filed with the Boston Redevelopment Authority, the 710-space parking facility at 35 Lomasney Way off Martha Road in the West End would be replaced with two buildings. One would […]
Jim Cohen figured it would be a slam-dunk: Bring discount retailer Ocean State Job Lot to a vacant building he owns on a rundown block on Somerville’s Winter Hill. Tweet Be the first to Tweet this!Submit to DiggdiggYahoo! Buzz ShareThis The store would restore some life to the neighborhood, provide several dozen jobs, and offer […]
Call it the Great Migration: The year that was! Boston had an additional 800,000 square feet of office space go vacant while the suburbs filled almost 1 and ¼ million square feet of previously vacant office space. Although this can be attributed to a myriad of factors, the most obvious is money. Massachusetts employers saved […]
Hostelling International USA has purchased 25 Stuart St. in Boston for $15 million. The nonprofit said the six-story building will serve as a 450-bed hostel, roughly double the size of Hostelling International-Boston’s existing facility at 12 Hemenway St. Hostelling International said it will remain at Hemenway Street until the planned renovations at its new Stuart […]
Robert L. Culver is leaving the helm of MassDevelopment after seven years in the post, the chairman of the agency’s board announced Wednesday. Gregory P. Bialecki, who chairs the board and also is the state’s secretary of housing and economic development, praised Culver for his “passion for rebuilding communities.” Culver, in a prepared statement, called […]
The city has chosen a designers and engineering team for its planned HarborWalk. Now, those designers want to hear how residents think the waterfront walkway should take shape. Cambridge 7 Associates, the lead designer for the $500,000 project, is holding a day for community input on Tuesday, with plans for what they and city officials […]
EVANSTON, Ill.– Industrial employment in Massachusetts fell 1.2% over the past twelve months according to the 2011 Massachusetts Manufacturers Register®, an industrial directory published annually by Manufacturers’ News, Inc. (MNI) Evanston, IL. Manufacturers’ News reports Massachusetts lost 4,717 industrial jobs over the past twelve months, a significantly smaller loss than the decrease of 11,950 reported […]
With nearly two million square feet of industrial property lying vacant and a 14-15% vacancy rate for Boston’s Industrial Property the gloom and sweat running from property owner’s brows appears almost visible. And yet, 40% of these same property owners are grinning from ear to ear. Their properties are leased and even if per chance […]
MIT Tech online article about University park expansion. MIT will work with Forest City Boston to build a new building at 298–334 Massachusetts Avenue, in the area just north of Random Hall, expanding research and retail opportunities along the block. Construction could start as soon as a year from now. Additionally, MIT is looking to […]
