Updates in the world of Commercial Real Estate
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 […]
Greater Boston’s industrial and warehouse markets continue to be plagued by high vacancy rates and alarmingly low rents, although recent sparks — in of all places the decimated Interstate 495 region — could be leading indicators of better times to come. A new report by Richards Barry Joyce & Partners said the three months ended […]
U.S. commercial real estate prices climbed 4.3 percent in September from the previous month, according to the Moody’s/REAL Commercial Property Price Indices (CPPI). That’s the largest one-month gain in the index’s nine-year history, and is encouraging for a market that has wrestled with deflated property values for nearly three years now. Yet experts debate whether […]
Miami Lakes-based LeaseFlorida had the winning bid to purchase a downtown Miami office building for $2.5 million. The 84,382-square-foot building, at 28 W. Flagler St., was previously owned by Brooklyn-based Mihato Realty, which lost a $5.1 million foreclosure in September. Clearwater-based Intervest National Bank had a $4.4 million mortgage on the property. Alan I. Waserstein, […]
With much of the hotel industry misfiring like Mark Sanchez under the Monday night lights, the Westin Copley Place’s relative financial strength is worth noting. The hotel was highlighted in a recent Moody’s Investors Service report on a $1.9 billion portfolio of commercial mortgage-backed securities (CMBS) arranged by a Bear Stearns affiliate in 2005. As […]
