Arup Exec Named Boston Climate Chief
Brian Swett is returning to Boston City Hall after a nine-year stint in the private sector to lead the city’s climate change and decarbonization policies.
Lab Vacancy Rate Nears 14 Percent
As more life science conversions and new developments were completed without tenants, Greater Boston’s lab vacancy rate rose to 13.7 percent in the first quarter.
Harvard Files New 1M SF Allston Development Plan
Harvard University and its development partner Tishman Speyer are set to begin the public review of their next major real estate project in Allston, the second phase of the school’s Enterprise Research Campus.
A Groundbreaking Lab Plan for North Shore Quarry
At an abandoned quarry in Manchester-by-the-Sea, Cell Signaling Technology plans to tap into the underground terrain for a geothermal heating and cooling system for its proposed 250,000-square-foot development.
What Does Berklee Have in Store for Fenway Property?
A Fenway commercial property added a major new tenant in Berklee School of Music, a neighborhood institution that’s had a rocky town-versus-gown relationship with residents and Boston officials.
Related Beal Picked to Develop Roxbury, Marine Park Projects
Developer Related Beal received approval to move forward with projects on city-owned properties in South Boston and Roxbury that could include more than 400 housing units and nearly 320,000 square feet of lab space.
Boston Office Rents Drop 10 Percent from Peak
Office vacancies in Boston rose slightly in the first quarter, and a wave of expiring leases in coming months will provide hints at the future direction of the market.
Back Bay Hilton Sold for $171M
An investment partnership that completed a $171 million acquisition of the Hilton Boston Back Bay hotel plans a capital improvement program to modernize the 41-year-old property.
‘Skyline’ Districts Set for BPDA Review
The final downtown Boston rezoning plan encourages multifamily housing and active retail and entertainment uses, while placing limits on research labs.
Capital Group Properties Plans Leominster Development
Southborough-based Capital Group Properties plans to develop a 67,500-square-foot industrial building for completion in early 2025 after acquiring a Leominster parcel.
BXP and MassDOT Sign Deal for Back Bay Tower Development
A deal with the Massachusetts Department of Transportation moved the 1.3 million-square-foot redevelopment of the MBTA’s Back Bay station property closer to groundbreaking.
Dana-Farber Eyes Lab Expansion in Fenway and LMA
Dana-Farber Cancer Institute will expand its lab and research space in Boston’s Longwood Medical Area and the Fenway while its office space shrinks under a permanent remote and hybrid workforce model.
R&D Could Throw Lifeline to Sinking Suburban Office Sector
Conversions to R&D space could be the best option for suburban Boston office landlords facing a financial crossroads, real estate executives predicted at an economic forum focusing on the Metro North region.
Boston Awards 37 Grants for Retail Startups
A group of 37 local entrepreneurs will receive nearly $4.6 million in grants from the city of Boston to help establish new retail businesses.
Quincy Apartments Trade for $25.4M
A Quincy apartment complex developed in 2018 was acquired by a Brookline investor this week for $25.45 million.
Wu Inks Planning Oversight Reform
Marking the creation of a new planning department that is independent from development approvals, Mayor Michelle Wu chose a backdrop that signified a potential end to heavy-handed government powers to shape Boston’s neighborhoods.
Alexandria Buys WBZ-TV Studios in Allston
The nation’s largest life science developer acquired the WBZ-TV studio property in Allston, where a large redevelopment including offices, labs and housing was approved in 2022 but has yet to begin
Developer Proposes 51 Apartments in Office Conversions
Vacant office buildings in South End and the Bulfinch Triangle are joining the queue of planned housing conversions taking advantage of Boston’s offer of tax breaks.
Sublease Surge Puts Pressure on Lab Rents
Asking rents for life science space in Greater Boston have declined 10 percent from 2022’s peak and landlords are likely to offer further concessions amid a recent uptick in sublease space.
West Shore Raises Profile in Southern Markets
With the completion of its 18th acquisition in Florida, a Boston-based multifamily investment firm increased its Sunshine State portfolio to more than 5,300 units.
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