Biotech Triples Space at Lexington Research Campus
A Cambridge biotech is expanding its suburban presence at the Hayden Research Campus in Lexington with a lease that triples its square-footage to over 93,000 square feet.
Supply Glut Prompts a Look Beyond Labs
Greater Boston’s 16 million-square-foot lab construction pipeline used to represent an exclamation point for the region’s life science industry. Today, it’s one of the biggest question marks in the local commercial real estate market.
Lab Market Takes Another Step Back in Q3
Double-digit availability rates are the new norm for lab space in Greater Boston, with only the industry hub of East Cambridge avoiding the full force of the market downturn.
Hanover North Cambridge Trades for $182M
An apartment complex completed in 2022 near the MBTA’s Alewife Station was acquired by an institutional investor for $182 million.
King Street Lands Clean Energy HQ for Devens Development
The 101,000-square-foot lease at 39 Jackson Road gives Ascend Elements an opportunity to expand in the future.
Everyone Wants a Piece of Biotech Startups
As life science tenant space requirements become scarcer in the more conservative venture capital climate, Boston area developers are adapting to the new leasing landscape with incubator space aimed at small startups.
Suburban Industrial Portfolio Trades for $167M
Boston-based Marcus Partners sold a portfolio of six suburban industrial properties that it had assembled since 2019 for $167 million.
VC Funding Rebound Favors Mass. Biotechs
Venture capital investment in Greater Boston’s life science industry rose to its highest level in more than a year, as local companies scored six of the 10 largest deals nationwide during the second quarter.
Industrial Deals Dropped 26 Percent in Q2
Industrial leasing activity dropped 26 percent during the second quarter, confirming softening in the once-overheated Greater Boston market.
Wu Offers Big Tax Breaks for Housing Conversions
Owners of downtown Boston office buildings will get a chance to receive tax breaks for residential conversions, provided that the projects meet the city’s affordability and clean energy goals.
Study Says Small Group of Office Buildings Causing Market Pain
Commercial developers group NAIOP said distress in the office market has been concentrated in a small percentage of buildings that are functionally obsolete.
Office Tenants Predict More Downsizing to Come
A majority of office tenants expect to shrink their space footprints further in the next three years, according to a CBRE report analyzing future demand in the office market.
Personnel File – No. 333
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s the latest edition of Banker & Tradesman’s Personnel File.
Concord Apartments Sold to BlackRock Client for $156M
A Concord apartment complex that includes a mix of flats, lofts and townhomes was sold by Manulife Investment Management for $156 million.
Recovering Fundamentals Attract Investor Demand
The Boston area’s high barriers to entry have suppressed new development and contributed to nine consecutive quarters of positive retail absorption. Given increasing tenant demand and a static supply side, the market has seen strong rental growth which we expect to continue.
‘Nothing is Off the Table’ for Office Deals in 2023
Office tenants have never had more options to choose from in Boston, and it’s continuing to widen the the chasm between the class A and B space.
Newton REIT Sells Hotel Portfolio for $137.3M
Newton-based Service Properties Trust sold a portfolio of Courtyard by Marriott and Residence Inn by Marriott hotels for $137.3 million to a joint venture.
New Weston Labs Get First Biotech Tenant
The speculative redevelopment of Weston’s former Liberty Mutual office park into life science space received its first tenant commitment from a Natick biotech that was acquired last year for $300 million.
Dorchester Snack Manufacturer Opening Canton Production Facility
A snack food manufacturer will open a new production facility at a Canton property occupied by a mix of life science and manufacturing tenants.
Local CRE Investment Dropped 36 Percent
Commercial real estate investment in Greater Boston dropped 36 percent in 2022 amid the slowing economy, rising interest rates and higher project costs.
