Commercial Real Estate News
Back Bay Office Tower Construction Approved
Developer Skanska USA pulled building permits for a $363 million office tower near Copley Square, less than three months after a Massachusetts Appeals Court dismissed a lawsuit by residents of a Back Bay condominium building seeking to block its construction.
Developer Buys 198-Unit Abington Station Site
Atlanta-based Wood Partners acquired an Abington parcel for $4.65 million that’s approved for a 198-unit housing development near an MBTA commuter rail station.
Healey Executive Order Seeks More Construction Jobs for Women
Gov. Maura Healey on Monday signed an executive order aimed at boosting women's employment in the construction industry, and she celebrated the effort with what could be one of her final public collaborations with the Biden administration. The order (Executive Order...
Financial District Offices Sold for $10.2M
A Financial District property that was marketed for a potential housing conversion sold for $10.2 million, less than half of its previous sale price in 2017.
TTorren Flats Sold to Japanese Investor for $21M
A 30-unit Allston apartment complex completed in 2021 by Boston Real Estate Collaborative sold to a Japan-based real estate investor for $21 million.
Archrival Buys Alexandria Labs in Kendall Square for $250M
Alexandria Real Estate Equities sold three Kendall Square life science buildings to its archrival BioMed Realty for $250 million in a transaction between the nation’s two largest lab landlords.
Is Burlington’s Mall Road Plan Headed for Dead End?
Office vacancies are nearing 20 percent in a town where commercial real estate pays two-thirds of the property taxes. But a plan to lean on housing development to avoid fiscal pain is facing skepticism.
Mass. Can Strengthen Section 8 to Expand Housing Access
Local housing authority policies are making a vital housing affordability tool far less effective than it should be, and hurt housing providers in the process.
In White Stadium Fight, Echoes of Boston’s Past
A quarter-century separates Boston Mayor Michelle Wu’s controversial soccer arena plans and the city’s last major sports stadium battle. Could they end the same way?
Biogen Reportedly Scouts Volpe Move
Biogen is reportedly in negotiations to lease up to 500,000 square feet as the first tenant at MIT’s redevelopment of the Volpe Center property in Cambridge.
Pru Tower Gets 413K SF Ropes & Gray Lease Renewal
Law firm Ropes & Gray extended its office lease for one-third of the Prudential Center tower in Boston’s Back Bay through 2041, landlord BXP announced.
Community Good Works
Clinton Savings Bank announced it collected around $10,000 worth of toys and other donations for local families in its first-ever holiday toy drive. See who else gave back.
Lower Mills’ Baker Chocolate Factory Trades for $41M
Dorchester’s Baker Chocolate Factory apartments traded for $41 million in a transaction between a pair of local developers.
Newton Lender Funds Acquisition of Boston Club Quarters Hotel
The 178-room hotel at 161 Devonshire St. was previously owned by Blackstone, which defaulted on a loan in 2023 for four Club Quarters hotel properties.
Bridgewater Developer Sells Hudson Apartments for $67M
Bridgewater-based Claremont Companies sold a 176-unit apartment complex in Hudson to an institutional investor for $67 million.
Three More Suburbs Vote Down MBTA Communities Law
Voters in Halifax, Marshfield and Wrentham rejected rezoning plans to add multifamily districts to comply with the MBTA Communities law.
What’s in Store for Mass. Construction Industry Under Trump
CIM’s Jeff Mahoney explains how the incoming Trump administration plays a role in Massachusetts’ infrastructure projects, the funding obstacles ahead for the industry and the priorities next session for industry advocates.
Newton Building Owners Face New Energy Use Rules
Commercial building owners in Newton will be required to reduce fossil fuel use that contributes to greenhouse gas emissions or submit payments to the city.
Parking Minimums Topple in Somerville
Somerville will now be the second city in Massachusetts to entirely do away with requirements that new developments be built with a minimum amount of parking. Cities have long had rules requiring a minimum number of new off-street parking spaces for residential and...
$275,000 Salary OK’d for New MassDevelopment CEO
MassDevelopment directors approved a $275,000 salary for the state financing agency’s new CEO, Navjeet Bal, under an employment contract that runs through the end of 2027.
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