By Grant Welker Milena Pagán graduated from MIT in 2011 with a degree in chemical engineering. She’s about to return to the neighborhood — to open a bagel shop as an acclaimed chef. Pagán spent some years in the corporate world but appears to have found her calling in restaurants. Pagán was a semifinalist this year […]
By Richard Berger A RealPage analysis of the apartment market fundamentals this week explains how the industry continues to rebound in 2023 even during this flat-rent period. “It’s rent disinflation without demand destruction,” according to the report. “Why? Supply, supply, supply.” Apartment completions in Q3 soared to the highest levels since the 1980s. But “it’s […]
By Catherine Carlock A low-lying industrial area in Charlestown — an area just a few miles from downtown yet far enough off the beaten path that it’s home to a pub called the Tavern at the End of the World — is poised for major transformation ahead of a crucial city vote this Thursday. The […]
By Jane Margolies When Jack Welch, the longtime chief executive of General Electric, presided over a global headquarters on a sylvan expanse in Fairfield, Conn., in the 1980s and ’90s, he probably did not envision college students streaming into its two pristine office buildings. But on a recent morning, students at Sacred Heart University headed to classrooms on floors […]
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 Jon Chesto Eastern Bank is making a major move to expand its private bankingwith a $528 million deal to acquire Cambridge Trust, while simultaneously selling its insurance business for $510 million to brokerage giant Arthur J. Gallagher & Co. The Boston-based bank’s holding company, Eastern Bankshares, announced both deals after the stock markets closed […]
