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| Fidelity Investments, which has been retrenching its office space locally, negotiated a 280,000-square-foot lease buyout at 99 High St. in Boston earlier this spring. Merrill Lynch Co. has been mentioned as one of the suitors to take over the space. |
Fidelity Sheds Space in Hub, Seeks Property in N.C., Utah
By Joe Clements
Even as it maneuvers out of office lease obligations in downtown Boston, Fidelity Investments is apparently beefing up its commercial real estate activities in Utah and North Carolina. According to industry sources, the mutual fund giant is nearing commitment on a major build-to-suit project in Salt Lake City and is simultaneously conducting a search for commercial space in the Raleigh-Durham area of North Carolina.
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Lead Paint Pact Leaves Health Groups Bristling
Starting next fall, bright orange warning labels on paint cans will alert contractors and do-it-yourselfers that sanding or scraping during remodeling could release hazardous lead dust.
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New Markets Program a Credit to Banks
By Melanie Nayer
Banks are increasingly making use of a new approach to community reinvestment by buying into low-income housing developments as a way to leverage funds with New Markets Tax Credit, while at the same time satisfying requirements of the Community Reinvestment Act.
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MMA Mortgage Showcase Offers Bleak View of Region’s Economy
By Melanie Nayer
Joined by members of the mortgage industry – including brokers, lenders, technology and data security investors – the Massachusetts Mortgage Association kicked off its 2003 New England Mortgage Showcase last Wednesday at Boston’s Seaport Hotel with workshops and a grim discussion on the state of the New England economy.
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Multifamily Development Planned For InWood Office Park Property
By Joe Clements
After an extensive marketing program, a sprawling land parcel fronting Route 93 on the Woburn/Reading line is being purchased by a Wilmington company that plans to pursue a multifamily development on the site. According to sources close to the deal, Howland Development Corp. last week signed a purchase-and-sale agreement to acquire the ill-fated InWood Office Park.
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