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IQHQ Sells Former Sound Museum Property to NB Development
Lab developer IQHQ sold another approved development site in Boston, a 3-acre parcel that’s approved for a 409,395 square-foot lab complex, to New Balance’s real estate arm.
This week’s $35.25 million transaction represents a 30 percent discount on the $50 million purchase price that IQHQ paid for the former Sound Museum studios’ home at 155 North Beacon St. in June 2021.
The company had refinanced the 155 North Beacon St. property in February along with a small Fenway lab building and the former Hotel Buckminster, which IQHQ had proposed for a lab project.
IQHQ’s plans to demolish the sprawling music rehearsal studios’ home stirred protests by arts and culture groups, and prompted city officials to intervene in the search for a replacement location.
As a condition of its approval for the lab project, IQHQ agreed to acquire a nearby property at 290 North Beacon St. for $18 million and donate it to the city for a permanent music rehearsal studio.
Last week, city officials announced the selection of a development consultant and music consultant as advisors on that project.
A message was left with NB Development seeking comment on its plans.
IQHQ received approval for the lab project in June 2023, as lab vacancies were rising. In December, the Solana Beach, California-based REIT sold another approved lab development site on North Beacon Street to NB Development, also for a loss.
The company delivered its 109 Brookline Ave. lab tower in the Fenway without any tenants this summer. And it recently completed construction of a deck over the Mass. Pike to support a parking garage and a pair of lab towers next to Fenway Park. However, it appears to have paused construction on the development, dubbed “Fenway Center.”
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Chicago Developer Sells Framingham Lowes for $33M
A Chicago real estate investor sold the 19-year-old Lowes Home Improvement store off Route 30 in Framingham for $32.6 million to local investors.
Amid DEI Backlash, Developer Group Blazes Path Forward
Emerging real estate developers and potential financial backers gathered in Boston this week to make connections, do deals and share strategies to overcome the challenging investment climate.
Summer Market Best for Buyers in 10 Years
While the summer market in 2025 was great for homebuyers as a whole, buyers in Greater Boston saw some of the most balanced conditions in years.
BPDA Approves Big Downtown Tower Upzoning
Boston planning officials approved new downtown zoning regulations designed to encourage development of multifamily housing and reinvigorate investment offsetting declines in office occupancy.
Opponents Urge ‘No’ Vote on Pivotal Downtown Rezoning
Opponents of Boston’s downtown “Skyline” rezoning proposal are mounting a last-minute campaign as it heads to a vote of the Boston Planning & Development Agency board of directors Thursday.