Commercial Real Estate News
Boston Developer Buys Shuttered Randolph Cinemas
A developer active in major South Boston projects is the new owner of a recently closed multiplex cinema property in Randolph.
Cottonwood Loans $122M for Charlestown Housing Redevelopment
The next building in the redevelopment of Boston’s Bunker Hill public housing complex has been financed, including a $50 million contribution from the city of Boston.
Cambridge Crossing Lab Tower Refinanced for $341M
Cambridge Crossing developer DivcoWest refinanced its newest lab tower at Cambridge Crossing with $341.3 million from KKR.
Biotech Lease Fills Waltham Lab Project
A biotech company doubled its footprint at a 143,533 square-foot lab building in Waltham, completing the lease-up at the office-to-lab conversion project.
Auction Scheduled for Suburban Offices
A high-visibility office building near the junction of Route 128 and Interstate 95 heads to auction this month is being marketed as having potential for a wide range of uses ranging from lease-up to adaptive reuse.
Chelsea FBI Tower Trades for $134M
A 268,000 square-foot Chelsea office property occupied by the local offices of the Federal Bureau of Investigation was acquired for $134.5 million.
Avison Young Names New England Market Lead
Avison Young named a broker with over two decades of experience in the Greater Boston commercial real estate industry to lead its New England offices.
Expert: Tax Cut Impacts Hinge on Mass. Economic Strength
As critics say Massachusetts is losing its competitive edge, lawmakers appeared skeptical that a tax cut would move the needle.
Developer Acquires Newton Multifamily Site for $23M
Developer Kennedy Wilson Multifamily acquired a 5.8-acre site in Newton for $23.1 million and received construction financing for a 184-unit apartment complex.
Personnel File – No. 437
From new VPs to fresh project managers, see who’s been hired, promoted and honored, it’s our weekly Personnel File roundup.
MBTA Communities Spurs Wellesley Condo Project
MBTA Communities rezoning spurred a proposal to convert an office building near the Wellesley Hills commuter rail station into 28 condominiums.
Residential Conversion Will Electrify Downtown Office Building
A developer will take the opportunity of Boston’s residential conversion program to electrify a 14-story downtown office building’s utilities while creating 75 apartments.
Parking Won’t Pencil
Expensive parking rules keep many Massachusetts housing projects from breaking ground. Local officials appear increasingly receptive to developers asking for relief.
Designing Affordable Housing Projects That Pencil
Affordable housing projects are becoming difficult to deliver. Each city rule may be well-intentioned, but together they push projects beyond what the economics will support.
A Beacon Cuts Through the Housing Crisis
As a former Star Market property sat vacant in Somerville and financial hurdles delayed redevelopment, Beacon Communities stepped in under CEO Dara Kovel.
Solving the Affordable Equation Off-Site
A nearly completed affordable housing project in Dorchester could serve as a model for future use of modular and off-site construction in multifamily developments.
Newton Councilors Float 4-Unit Zoning to Cut Down on Teardowns
Two Newton city councilors bent on curbing teardowns are suggesting something unusual for The City of Homes: liberalizing residential zoning to encourage adaptive reuse projects.
New Data Shows Mass. Is Driving Its Residents Out
Massachusetts is starting to see a growing number of people head for the exits, from young professionals and families just starting out to wealthy couples nearing retirement.
Hot Property: 24 Webster Ave.
Nonprofit Just a Start will demolish a vacant commercial building in Somerville’s Union Square and construct 43 deeply affordable apartments in a 6-story building after completing its project financing.
An Affordable Home in the Hand Is Worth Preserving
While we are investing billions of vital dollars in affordable housing production we must also ensure we are not allowing existing affordable units to be lost.
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