Lender Takes $72M Charge-Off on Cambridge Courthouse Conversion
Prolific commercial real estate lender Bank OZK told investors Wednesday it’s taking a $72 million loss on the construction loan for the 40 Thorndike St. office tower.
Landlords Reinvest in Business-Focused Amenities
Foosball tables, indoor slides and golf simulators were once all the rage. In today’s leaner economic climate, office landlords’ focus is shifting to practical amenities.
Opportunities and Pitfalls Await Office Investors
Big leases by Hasbro and KKR at trophy office towers have generated buzz about the Boston office market after several years of consolidations and downsizing.
High-End Buildings Keep Lead in Q3 Boston Office Leasing
A virtual city located under one roof, the 1 million square-foot Winthrop Center tower in downtown Boston has a food hall, health clubs, billiard room and even a “Club VIP” doggy daycare.
Transacting in a Transitional Market Phase
Friends outside CRE wondered whether JLL office broker Sarah Griffith would entertain a career change after the pandemic. In fact, she was having banner years.
Office Growth Expected, Except Among Largest Companies
A growing majority of office tenants plan to expand their real estate footprints in the next three years, according to a nationwide survey of occupier sentiment.
Synergy Reportedly Purchasing Another Downtown Tower
A downtown Boston office tower is reportedly set to be acquired by Boston-based developer Synergy for a steep discount from the previous transaction that took place just before the COVID-19 outbreak.
State Street Corp. Reportedly Leaving Channel Center
A State Street Corp. division will vacate its Channel Center offices in Fort Point and relocate staff to Burlington, North Quincy and the One Congress tower at Government Center, according to a report.
Boston Office Vacancy Rate Drops to 21.2 Percent
Office vacancies in Boston dropped for the fourth consecutive quarter, but the pace of leasing activity declined amid economic uncertainties.
New Owners Take Over Management of One Lincoln
The new owners of Boston’s One Lincoln office tower are seeking to accomplish what prior owner Fortis Property Group could not: attract tenants to fill the void left behind by the departure of State Street Corp. and downsizing by WeWork.
Fidelity Investments Offers HQ for Lease
Fidelity Investments has indicated it will vacate its headquarters near Boston’s South Station in entirety after it opens its refurbished Commonwealth Pier offices in the Seaport District.
Lender Buys One Lincoln for $400M
Boston’s 1.1 million-square-foot One Lincoln office tower was sold to its lender for $400 million at a foreclosure auction today.
One Lincoln Gets 24-Hour Reprieve
Lenders postponed an auction of Boston’s One Lincoln office tower at the last minute, delaying a potential change of ownership for the 1.1 million-square-foot skyscraper.
Boston Class A Office Buildings Start to Feel Pinch
High-end office buildings are starting to feel the pinch of rising vacancies in the Greater Boston office market.
Boston Office Market Finds Firmer Footing
Is 2025 the year of the Boston office comeback? Amid return-to-work mandates and a slight dip in office vacancy rates, there’s optimism in the air.
‘Fear Factor’ Deters Residential Conversions in Boston
Boston is at a critical juncture as it faces a growing housing shortage alongside an abundance of underutilized office space. But the scale of conversions here has, so far, been underwhelming.
How the Federal Reserve’s Half-Point Rate Cut Will Impact Boston Real Estate
The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers and businesses.
Hasbro Scouting Boston for New HQ
Massachusetts is in the running to attract the headquarters of a well-known consumer brand from a neighboring state with the potential relocation of toy and game maker Hasbro from Rhode Island.
Wu Still Hopeful for Tax Plan
Boston Mayor Wu is holding out hope that she can get Senate President Karen Spilka to come around to her proposal to temporarily increase the tax rate for Boston’s commercial property owners.
Boston Office Landlords Bet on Spec Suites
Overall office requirements in Greater Boston are pushing past 3.5 million square feet. Many of them are on the hunt for a flexible, seamless solution in the market: spec suites.
