Commercial & Industrial
Philips HQ Move to Cambridge Could Grow Larger
Just three months after announcing a new 243,000-square-foot headquarters for 2,000 employees at Cambridge Crossing, Philips North America is reportedly committing to nearly 100,000 square feet more in the speculative development.
Early Literacy Grants Gain Support Ahead of Budget Debate
Among the 1,400 amendments to the House’s fiscal 2019 budget is a proposal to create a new grant program intended to help schools boost early literacy.
Fake City Employee Steals $1.4K from Home
Police in Massachusetts are warning residents to watch out for a person posing as a city employee in order to steal from people’s homes.
Community Good Works
Freedom Credit Union, Skanska and Walpole Co-operative Bank are among the organizations giving back to their communities in this week’s roundup.
Boston Climbs Global Ranks in CRE Investment
Greater Boston’s growing tech economy is acting as a catalyst for commercial real estate investment, with the region topping Silicon Valley and 11 other global markets categorized as “innovators” in a new JLL report.
Army Corps Offices Sold for $11M to Lexington Developer
A 28-acre property including the New England offices of the Army Corps of Engineers has been sold for $11 million to Azad Legacy Partners LLC, a Lexington-based developer.
AG: MBTA Failed to Publicly Bid Construction of North Quincy Parking Garage
MBTA violated the law by failing to publicly bid construction of a new parking garage at the North Quincy MBTA station, according to a new ruling from the attorney general’s office.
Union Fund Acquires 177 Huntington Ave. Lease For $137.5M
A real estate fund affiliated with the AFL-CIO has acquired the ground lease on 177 Huntington Ave. in Boston’s Christian Science Plaza for $137.5 million.
Somerville Nonprofit Receives $6.9M in Financing
MassDevelopment has issued a $6.9 million tax-exempt bond for Somerville Community Corp. Inc., a nonprofit that supports low- and moderate-income Somerville residents by promoting and preserving affordable housing.
Alexandria Seeks Startups for Life Science Incubator
Alexandria Real Estate Equities owns 22 million square feet of commercial real estate and has a nearly 8 million-square-foot development pipeline, with a concentration on tech and life science tenants in seven U.S. markets including Greater Boston.
Italian Restaurant Chain Bertucci’s Files for Bankruptcy
Italian casual dining chain Bertucci’s has filed for Chapter 11 bankruptcy protection and closed 15 restaurants.
Personnel File
Acella Construction Corp., Saam Architecture and The Cooperative Bank of Cape Cod are among the organizations featured in this week’s roundup.
Framingham Bucks the Trend, Embraces Multifamily Housing
The rise of Amazon and ecommerce is fast turning into an extinction level event for malls, which now face the same fate as all the neighborhood stores and shops they once shuttered on Main Street. And our own bevy of retail bazaars here in Massachusetts is hardly immune to the pressures
Hot Property: 25 Thomson Place
25 Thomson is highly competitive in the Boston market and has been effectively positioned as an ideal place for growing tech-based companies in the city’s hottest neighborhood.
Assembly Row Growing Pains Strain Parking
Somerville’s Assembly Row is straining against the limits of its parking capacity as MBTA riders take advantage of 2,100 spaces near the 3-year-old Orange Line station, while shoppers check out 20 new shops and restaurants opening this year. “It was a free-for-all for anyone and everyone coming to Assembly Row, including people jumping on the Orange Line and working in Boston for eight hours,” said David Middleton, Assembly Row’s assistant general manager.
Architects Push the Limits of Old Materials in New Construction
Vanity, after all, is often what pushes architects and designers to do their very best work. If you’re not trying to stand out and be the best, how could you possibly distinguish yourself and set your work apart?
Consultants Consolidate Office Space in Back Bay
Seattle-based Slalom Inc. will consolidate its Boston office space with a 30,075-square-foot lease at 399 Boylston St.
Belmont Day School Adding Mixed-Use Facility
Shawmut Design and Construction held a topping off ceremony this week at The Barn, a new 26,000-square-foot mixed-use building at Belmont Day School.
CarGurus Eyes Expansion In East Cambridge
After raising $150 million in an initial public offering last fall, CarGurus Inc. is poised to expand its office footprint in booming East Cambridge.
Industrial Investor Acquires Mansfield Warehouse For $38.5M
The Seyon Group of Boston has acquired a 350,000-square-foot warehouse in Mansfield for $38.5 million.
