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.
Greater Boston Office Availability Rate Tops 20 Percent
Greater Boston’s office availability rate reached a record high of 20.2 percent at the midyear mark after another declining quarter for leasing activity and uptick in sublease space.
An Office Titan Faces a Philosophical Question
Boston Properties, our hometown real estate giant, recently found itself confronted with a question that would have been unthinkable before the watershed year of 2020.
WeWork Seeks to Drop One Lincoln Lease
One Lincoln owner Fortis Property Group faces another big office vacancy to fill if a bankruptcy court approves WeWork’s motion to reject the lease on its 241,000-square-foot coworking center.
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.
Amid CRE Tax Rate Hike, Should Boston Be Tightening Its Belt?
Only days after announcing a plan to seek state approval to raise property tax rates on commercial property owners, Boston Mayor Michelle Wu filed a $4.6 billion budget plan for 2025 that would hike city spending by 8 percent, or $344 million.
Wu Begins Talks With Lawmakers on Tax Bill
The mayor’s proposal would allow the city to lessen increases in residential property tax bills by temporarily levying that increased tax on commercial real estate for up to five years.
Office Woes Threaten Boston Budget With ‘Economic Act of God’
Warning about the prospect of a “permanently diminished city,” think tank analysts said a sharp and steady drop in the value of office buildings could soon punch a hole in the city’s budget, endangering resources for schools, first responders and more.
Two More Years of Declines Seen for Boston Office Market
Persistence of the hybrid work model is expected to translate into continuing declines in office occupancy and rents across the U.S.
