Commercial Real Estate News
Hanover North Cambridge Trades for $182M
An apartment complex completed in 2022 near the MBTA’s Alewife Station was acquired by an institutional investor for $182 million.
Children’s Hospital Buys Fenway Lab Space for $172.5M
Boston Children’s Hospital has closed on its $172.5 million acquisition of a portion of a new life science tower to be developed in Boston’s Fenway neighborhood.
FoxRock Refinances Quincy Office Building for $27M
Quincy-based commercial real estate company FoxRock Properties recently refinanced a North Quincy office building for $27 million.
BXP Proposes 1M SF Suburban Development
Boston Properties is moving ahead with the full buildout of the 94-acre former Polaroid campus in Waltham, a 1-million-square-foot office-lab project that would be accompanied with an extensive series of roadway changes at Route 128.
Boston Office Rents Keep Sliding Despite Demand Bounce
Over the past 12 months, office tenants’ active space requirements have increased nearly 26 percent, according to new JLL research.
Boston Bill Targets 250 Liquor Licenses for Neighborhoods
Legislators grilled Boston Mayor Michelle Wu and other city officials for more than an hour Monday over a home rule petition that would dramatically expand the volume of liquor licenses in low-income, marginalized communities.
Council Backs Wu on Affordability Increase
Boston City Councilors backed an increase in income-restricted units in multifamily developments, a move that real estate industry groups predict will further discourage housing production.
New Moderna HQ Nears Completion Under Budget
Moderna’ new global headquarters in Cambridge’s Kendall Square is set for delivery in November under budget, developer Alexandria Real Estate Equities announced.
Suspicious Device Found at Allston Microapartment Project
Arson investigators were called to an Allston apartment development after a suspicious device was discovered early Friday.
Dorchester Art Studios Seek to Add Condo Building
A Dorchester property that spotlighted displacement pressure on Boston’s artist community will be redeveloped as affordable live-work housing under plans submitted by New Atlantic Development.
Downtown Offices Trade for 74 Percent Discount
A Downtown Crossing office building traded for a 74-percent discount from its previous price in 2016, as a Boston investor snapped up the 38,000-square-foot building for just under $4.1 million.
Bills Aim to Ensure Access to Lawyers in Evictions, De-Leaded Homes for Renters
Low-income tenants who are at risk of being evicted could gain access to free legal representation, the state rental voucher program could be written into law and apartment de-leading could be given a boost under bills heard on Beacon Hill Wednesday.
Hot Property: Volpe Center
The federal government’s new Volpe National Transportation Systems Center includes new simulator labs designed to improve the safe operation of commercial airliners, locomotives and 18-wheelers.
Another Slow-Motion Crisis Stalks Our Public Housing
There is arguably an even bigger problem when it comes to public housing in Massachusetts, one that has drawn little media attention: the huge number of public housing units on the cusp of being uninhabitable.
Attleboro Power Center Trades for $71M
A power center situated next to a highway interchange in Attleboro has traded hands for $12.55 million premium on what the seller paid in 2019.
BPDA OKs Ambitious Charlestown Growth Plans
Boston planning officials gave their OK to a major rezoning of Charlestown’s industrial areas Thursday night, the penultimate step in paving the way for major commercial and residential growth around the neighborhood’s subway stops.
Newton Scales Back Transit Zoning Plans
The latest version of Newton’s upzoning plan shrinks the size of buildings and the number of parcels where new housing will be allowed. But officials still think the plan can pass muster under the state’s MBTA Communities zoning reform law.
Mission Hill Development Seeks to Swap Offices for Housing
A multi-phase Mission Hill development could see a planned office building swapped out for more affordable housing under plans submitted to Boston officials last week.
Convention Center Parcels Re-Do Attract Same Developers
A re-run of an RFP process for a clutch of parking lots next to the Boston Convention and Exhibition Center in South Boston didn’t produce any additional bids, but Boston Global Investors and Cronin Group don’t appear to have scaled back their ambitions for the 6-acre site.
House, Senate Dems Agree on More Than $1B in Tax Relief
Massachusetts lawmakers unveiled a tax relief package Tuesday aimed at delivering $561 million in reductions to taxpayers and companies during the current fiscal year through a slew of tax credits and other steps aimed at lowering tax burdens.
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