Boston Office Rents Drop 10 Percent from Peak
Office vacancies in Boston rose slightly in the first quarter, and a wave of expiring leases in coming months will provide hints at the future direction of the market.
Back Bay Hilton Sold for $171M
An investment partnership that completed a $171 million acquisition of the Hilton Boston Back Bay hotel plans a capital improvement program to modernize the 41-year-old property.
‘Skyline’ Districts Set for BPDA Review
The final downtown Boston rezoning plan encourages multifamily housing and active retail and entertainment uses, while placing limits on research labs.
Developer Seeks Two-Year Delay for Somerville Lab Tower
The developer of a 19-story lab tower in Somerville’s Assembly Square is seeking an extension to redesign the project following a change of ownership and continuing sluggishness in life science leasing.
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.
