Updates in the world of Commercial Real Estate
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 […]
Macy’s is closing its Chestnut Hill store as part of what the company calls an annual review process that selectively prunes underperforming locations. The store, which opened in a former Bloomingdale’s location at the Chestnut Hill Shopping Center in 2007, will start a final clearance sale on Sunday that will run for about 10 weeks. […]
Commercial real estate covers a large chunk of the real estate world. It includes office and retail properties like shopping centers, industrial properties, land and investments and hotel /resort properties. There are various agencies involved in this line of business and they aim to provide the entire range of corporate and investment services to the […]
The fourth quarter data barrage is underway, and a report from one highly respected commercial real estate shop indicates there’s more space available in the Boston market than there was a year ago. This is not a huge surprise, but there’s always value in dealing with hard numbers rather than anecdotal information. According to the […]
QUINCY, MA – The Quincy City Council approved the master agreement for a $1.28 billion redevelopment of Quincy Center anchored by a unique financing plan that Mayor Thomas Koch and the City’s private development partners, Street-Works Development LLC, believe could become the new model for urban redevelopment projects across Massachusetts. The project – which marks the […]
CHELSEA, Mass.— ACS Development Corporation, a premier property developer, announced the expansion of a current tenant in its Arlington Center property at 311-321 Broadway Street. GEMMA Italian Ristorante, an authentic family-owned Italian restaurant, is expanding its operations by 5,233 square feet and moving into the space formerly occupied by Krazy Karry’s. “GEMMA’s success is a […]
As Boston homeowners face a 7.5 percent property tax hike and the city’s schools confront a $63 million shortfall, a city watchdog group is asking the Menino administration to sell a pair of underused buildings in the North End that could fetch more than $15 million. The Boston Finance Commission wants to know why Mayor […]
How does one go about filling 350,000 square feet of empty Class A office space in a market still plagued by negative absorption? Very slowly, says Ted Oatis, a partner with The Chiofaro Co. in Boston. In roughly two weeks, such a chunk of space will officially be vacated at International Place, the 1.9 million-square-foot […]
Samuels & Associates announced this week its plans for the 2.2 acre parcel known as the Fenway Triangle, unveiling a blueprint for 290 residential units, 225,000 square feet of office space and a smattering of retail and parking facilities. The plan, filed with the Boston Redevelopment Authority Monday, is the first step in the BRA’s […]
