Commercial & Industrial
Boston, Everett Officials Square Off Over Stadium
The effort to develop a pro soccer stadium in Everett drew praise Tuesday from state officials, but warnings from Boston leaders that it could cause traffic “nightmares” and pleaded to be included in future planning discussions.
Larry Lucchino, Key Figure in Red Sox and Worcester Revivals, Dies at 78
Former Boston Red Sox President and CEO Larry Lucchino has died at age 78, the team announced Tuesday morning.
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.
Study: Lots of Amenities the Key Difference in Office Performance
A new analysis by researchers at commercial brokerage JLL has concluded that a high level of amenities is the key difference between buildings that kept or gained tenants over the last four years, and those that lost tenants.
Aging Systems Challenge Hynes Convention Center
The quasi-public authority that runs the state’s convention centers has a five-year plan to “keep the lights on” at the Hynes Convention Center in Boston’s Back Bay, as it stares down over $100 million in deferred maintenance and other costs.
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.
Boston Mayor Shocks Real Estate with Office Tax Rate Hike
The scale of Mayor Michelle Wu’s planned massive hike to tax rates on office, lab and retail buildings comes at a terrible time. And she seems to be ignoring an important alternative strategy.
Communities Already Own a Key Tool to Help Alleviate Housing Crisis: Municipal Property
Municipalities throughout New England have long struggled to create opportunities to help alleviate the region’s severe housing crisis, without realizing potential solutions may already be within their control.
MCCA Made the Right Call
The Massachusetts Convention Center Authority has a chance to make a dent in several problems problem by rethinking what it does with its 6.5 acres of empty D Street and E Street lots.
Community Good Works
North Shore Bank, based in Peabody, gave $20,000 to the Essex Community Foundation to support education, healthcare, economic development and social services initiatives. See who else gave back.
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.
Synergy Nabs Downtown Office Tower in $78M Buy
Boston-based developer Synergy made another bet on the future of the office market with acquisition of a 406,928-square-foot office tower in Downtown Crossing.
Office Slumping, Wu Seeks to Hike Commercial Tax Rate
Boston Mayor Michelle Wu is seeking the option of shifting a larger portion of the city’s property tax levy onto commercial and industrial properties as soon as fiscal year 2025 to compensate for anticipated declines in values.
In Contentious Vote, City Councilors Back Wu’s BPDA Reforms
Starting in July, many of the main functions of the Boston Planning & Development Agency will be transferred over to a new city Planning Department. But key elements remain unresolved.
Draper Labs to Anchor $800M UMass Lowell Development
The university will embark on a massive, nearly $800 million development campaign poised to bring hundreds of units of housing, hundreds of thousands of square feet of commercial space and a new dormitory to the Mill City.
MCCA Set to Cancel Southie Development Plan
The Massachusetts Convention Center Authority will drop its immediate plans for development of 6.5 acres near the Boston Convention and Exhibition Center, opting for a broader look at its strategy and the changing market conditions in commercial real estate.
Top Budget-Writer Explains House’s Transfer Tax Debate
Rep. Aaron Michlewitz said it’s been difficult to develop this spending plan because he’s not exactly sure what’s led to state tax collections running $186 million behind last yea
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