Updates in the world of Commercial Real Estate
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 […]
Atlantic Wharf, with its stunning 31-story glass tower on Congress Street opposite the Federal Reserve building, is nearing completion – and a sneak peek inside reveals that it’s been worth the wait. The $500 million office and residential complex offers 550,000 square feet of waterfront space. Floor-to-ceiling windows throughout the mixed-use project offer sweeping views […]
The local outlook on the beat-up commercial real estate sector may have improved slightly, according to a new survey devised by the University of St. Thomas. The index, based on a poll of 50 commercial real estate leaders in the area, registered 54.1, up slightly from 53.5 last spring when the index was first released. […]
