Market Updates

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 […]

Street-Works LLC has struck a deal with Quincy officials that will see the firm partly finance some $227 million in public infrastructure projects in exchange for the right to expand its already ambitious $1.3 billion mixed-use redevelopment of the city’s commercial center. The financial and permitting arrangement were included in the project’s master plan that […]

Rendering, Northborough Crossing – Northborough, MA Shown (from left) are Douglass Karp, lt. governor Tim Murray and Stephen Karp. Northborough, MA Construction is well underway for Northborough Crossing, a 600,000 s/f open-air retail center being developed by New England Development in partnership with Brendon Properties and The Wilder Companies. The first new, major retail project […]

A firm led by a Belgian investor has acquired the sites of two planned South Beach apartment projects in a deed in lieu of foreclosure and a short sale. The largest deal involved a 12-unit apartment project in mid-construction in which Banco Popular North America let the developer sell the property for 52 percent less […]

We keep hearing that landlords are bending over backwards — beyond offering low lease rates — to retain and recruit tenants. Details over recently awarded allowances for tenant improvements indicate that some property owners are more flexible than others. A case in point is this week’s disclosure that Boston Properties Inc. gave the Federal Home […]