Updates in the world of Commercial Real Estate
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 […]
Cambridge’s first cleantech-focused incubator is about to be replaced – by a biotech building. Solar technology developer Promethean Power Systems had been providing shop space for energy startups in a building near Lechmere Square. Now, after less than a year, it is out looking for new digs, after the owner of the building sold it […]
Cambridge — The Forsyth Institute, the world’s leading independent oral health research organization, held its grand opening celebration on Nov. 18 at its new home. Forsyth, which has been improving oral and overall health for 100 years through its biomedical research and community programs, operates in a state-of-the-art facility at 245 First St. in Cambridge. […]
Two local properties — 38 Chauncy St. in Boston and the Fresh Pond Shopping Center in Cambridge — are having markedly different effects on a $780 million portfolio of mortgage securities packaged and sold by GE Commercial Mortgage Corp. in 2002. The local office and retail properties were highlighted in a recent Moody’s Investors Service […]
At a time when budget stress is wreaking havoc at all levels of government, the city of Somerville is preparing a $25 million bet on a speculative, $1.2 billion real estate development that, under the rosiest of forecasts, is unlikely to be completed for another decade. The gamble, in dollar terms, would equate to more […]
QUINCY — The company proposing to redevelop Quincy Center has reached a handshake agreement with a local labor council that governs the extent to which the project will be built by union workers. The agreement, between Street-Works LLC and the Quincy and South Shore Building Trades Council, was reached after a five-hour negotiating session Thursday […]
A prime piece of Boston real estate on the swankiest end of Newbury Street is headed for the auction block. The property at 4-6 Newbury St., which includes a 160-car garage and first-floor retail space across from the Taj Boston Hotel, faces foreclosure, because its owner defaulted on the mortgage, according to a legal notice […]
