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.
Another Option for Vacant Office Buildings
New hotel construction has slowed to a crawl in Boston since COVID but a new source of room supply is emerging in conversions spurred by the city’s struggling office market.
Hot Property: All-Electric Wilmington Warehouse
A partnership between Camber Development and Wheelock Street Capital has begun construction of a 238,000-square-foot warehouse and distribution facility in Wilmington.
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.
GFI Partners Set to Tee Off 200K SF Development
Boston-based developer GFI Partners plans to develop 200,000 square feet of commercial space at the former Grafton State Hospital after completing an acquisition from MassDevelopment.
Hot Property: Lutronic Headquarters
A recent renovation project by Vantage Builders updated the lobby, clinical space and offices of Lutronic’s Billerica headquarters.
Scaling New Heights in Public and Private Projects
A change of ownership this month will enable Gienapp Architects to expand its opportunities to pursue publicly-sponsored building projects as Imelda Barnhurst takes the reins.
524K SF Spec Development Planned in Westfield
A Concord developer plans to break ground on a speculative warehouse at a 126-acre next to Westfield-Barnes Regional Airport.
Synergy Nabs Downtown Office Tower in $78M Buy
Boston-based developer Synergy made another bet on the future of the office market with acquisition of a 406,928-square-foot office tower in Downtown Crossing.
Office Slumping, Wu Seeks to Hike Commercial Tax Rate
Boston Mayor Michelle Wu is seeking the option of shifting a larger portion of the city’s property tax levy onto commercial and industrial properties as soon as fiscal year 2025 to compensate for anticipated declines in values.
MCCA Set to Cancel Southie Development Plan
The Massachusetts Convention Center Authority will drop its immediate plans for development of 6.5 acres near the Boston Convention and Exhibition Center, opting for a broader look at its strategy and the changing market conditions in commercial real estate.
Retail Shops and 60 Apartments Proposed at Middleton Corner
A Needham developer seeks to redevelop a vacant restaurant site in Middleton with a combination of retail space and 60 apartments.
