By Kate King Luxury retailers are spending big on their U.S. real estate, more evidence of the staying power of in-person shopping. French jeweler Van Cleef & Arpels is opening a new Manhattan location on Madison Avenue. Chanel recently reopened its Beverly Hills flagship after more than doubling its footprint to 30,000 square feet. Gucci is […]
By Olivia Rockeman Macy’s Inc. will open 30 new small-format stores by the fall of 2025 as it works to expand its presence outside of traditional malls. Macy’s already operates small-store locations in markets such as Dallas, Atlanta, St. Louis and Chicago, and it announced four new ones in August. The department store chain will have 15 smaller stores across […]
By: Scott Carpenter and Sarah Holder Office prices in the US are due for a crash, and the commercial real estate market faces at least another nine months of declines, according to Bloomberg’s latest Markets Live Pulse survey. About two-thirds of the 919 respondents surveyed by Bloomberg believe that the US office market will only […]
By Greg Ryan The real estate firm behind Somerville’s Somernova business campus is proposing to replace the low-slung structures now on the site with a $3.3 billion redevelopment featuring five significantly taller buildings aimed at “tough tech” tenants. Right now, the 7.5-acre Somernova campus — located off Somerville Avenue, a half-mile west of Union Square — […]
By Joe Clements CAMBRIDGE—In a mega-$168 million trade that caps off a banner beginning for CBRE/NE’s market-leading multifamily sales team, Heitman Real Estate Capital has changed places with fellow Chicago-based investor Equity Residential as landlord to the Cambridge Park Apartments in this city’s rapidly emerging Alewife district. The 311-unit, first-class asset at 30 CambridgePark Dr. […]
By Jack Rogers The wide bid-ask gap during the first half of 2023—as CRE transaction volumes plunged in the steepest cliff dive since the Great Recession—appears to have narrowed in the third quarter. According to Steve Jacobs, CEO of online auction leader Ten-X, the “flex”—the difference between a seller’s initial asking price and a price […]
By Macie Parker After four years of construction and nearly a decade of planning, the new John A. Volpe National Transportation Systems Center has opened in Kendall Square, part of $750 million deal between MIT and the federal government to redevelop a 14-acre parcel that was once a NASA electronic research center. The new transportation center is […]
By: Gary Kerr The Commercial Triangle district in Everett, Massachusetts, provides a case study in putting a strategic vision into action. Municipal leaders are continually seeking to improve their communities by bringing in private-sector investment, which catalyzes growth and opportunity. But how can a municipality attract the right kind of investment? Welcome to Everett Located just […]
By Richard Berger Operational costs for apartment companies grew by 8.6 percent on average year-over-year in the second quarter of 2023, according to a new report from Marcus & Millichap. Effective rents rose at nearly twice the pace of expenses during the yearlong period ending in June 2022, but those trends inverted over the following […]
By Erik Sherman Green Street last month reported that overall smaller sales in various markets were showing greater strength than larger ones. They’ve lost sales volume, but at a much smaller rate than larger properties. Multifamily was one of the two stars of the pandemic in sales, values, and increasing rents. (Industrial was the other.) But how […]
