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| 18 Tremont St., Boston |
Office Buildings Being Sold For a Combined $70 Million
By Joe Clements
Two more prime office buildings are changing hands in metropolitan Boston, with a New York firm placing the Hub’s 18 Tremont St. under agreement while local group Intercontinental Real Estate Corp. is buying 117 Kendrick St. in Needham. Together, the deals total more than $70 million in value, providing an encouraging second-quarter start for the Massachusetts investment sales market after an unusually active first quarter.
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Office Market Undergoes Mix Of Change and the Status Quo
By Joe Clements
As the local office market moves into the second quarter, some things are changing and others will remain the same, with Forrester Research opting to renew for five years at Technology Square in Cambridge while two well-known tenants appear on the march from their longtime homes in downtown Boston. UBS Financial Services is forsaking its namesake tower at 265 Franklin St. for nearby One Post Office Square, according to sources, whereas architectural firm Shepley Bulfinch Richardson & Abbott is reportedly leaving 40 Broad St. for the Hub’s burgeoning Seaport District.
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Local Players Brace For BofA’s Impact
By Katie Curnutte and Jennifer Jope
Their signs are up and television and radio spots are running, but North Carolina-based Bank of America’s impact on the New England marketplace isn’t yet being fully felt. In the interim, community banks and credit unions are bracing for the increased competition sure to be created by the banking behemoth by implementing new marketing strategies.
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Housing Discrimination Complaints Rise
By Aglaia Pikounis
Housing discrimination complaints were on the rise last year, according to a recently released federal report. The report by the U.S. Department of Housing and Urban Development revealed that the federal agency, along with state and local agencies, received 9,187 discrimination complaints during the last fiscal year, a 13 percent increase compared with the prior year. The agencies also settled more than 3,100 cases and provided over $11 million in monetary relief.
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Numbers Show Greater Boston Office Leasing Is Still Sporadic
By Joe Clements
Between the harsh winter, April Fools’ Day and pre-dawn clock adjustments, it is easy to understand a bit of springtime confusion this time of year, but whatever the cause, first-quarter figures for Greater Boston’s office market are coming in abnormally skewed, with contradictory results underscoring continued upheaval for the industry.
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