Commercial property tax has increased in and around the Boston area. The 2013 numbers are out and communities such as Everett, Framingham, and Holyoke experienced increases in their already sky high rates. Everett’s commercial property rate is much higher than any other city in the area at $43.04 for every $1,000 of assessed property value. […]
In the past years, the commercial real estate market has experienced a multitude of changes in response to poor economic conditions. Tenants, particularly large public firms, have been downsizing to cut costs. Office spaces are changing to accommodate downsizes. For example, non-dedicated offices and flex spaces are being utilized to diminish costs. In addition, Norm […]
One Lincoln Street—better known as the State Street Financial Center—is still on the market. The building was put on the market nearly 20 months ago by New York-based real estate group Fortis Property for $1.15 Billion. Brokers believe the reason why the property has failed to sell is likely due to its price. In addition, […]
Construction on NorthPoint, a 20-story apartment complex, has commenced in Cambridge. HYM Investment Group, the real estate developer behind the project, stated that $2 Billion development could encompass 5 million square-feet and will include residential, commercial office, biotech, and retail opportunities. The residential portion of the development will include 355 luxury units. Progress on the […]
Stephanie Deering of ABG Realty was the sole broker in the transaction and coordinated the lease between the parties Upward Spiral Studios (the Lessee) and YWCA Cambridge (the lessor). This gym / flex space in the heart of Central Square is situated in a great location in between Mass Ave and Prospect Street. The building […]
ABG Commercial Advisors is pleased to announce that Peter Mayfield, licensed commercial real estate sales & leasing representative, has successfully found a new space for one of Boston’s up-and-coming luxury destinations geared toward the prestigious pooch. Beantown Bed & Biscuit’s interactive doggy daycare—a local hotspot that is sure to become your dog’s home away from […]
Hi All, We would like to thank you for reading our blog and keeping up with our company updates. We hope you all have a great Thanksgiving weekend. We will return to blogging on Monday. Look forward to more things coming soon. ABG Commercial
Since the second quarter of 2011, Vacancy rates in Cambridge have been improving. Cambridge’s vacancy rate peaked that quarter at 10.3% and has been steadily declining since. The figures are in for the second quarter of 2012 and vacancy rates have dropped to 9.4% with a total of 10,137,858 square feet vacant in the Cambridge […]
Mechanics Hall a concert venue in Worcester, Ma is to undergo $300,000 in renovations. The money will be used to restore the 1864 pipe organ. There will be repairs to the roof, the elevator shaft, the exterior walls and the windows. The speaker system and amplifiers in the venue are 30 years old; funds will […]
After the closing of Jp Licks ice cream on Newbury Street, the ice cream shop has announced they will be returning to a new location in the Back Bay! Looney Tunes, Boylston St. (below) JP Licks on Newbury before closing (below) The new location is the former “Looney Tunes” record store on Boylston Street, near […]
