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.
As Boston Retreats, Suburban Office Market Stabilizes
Boston’s suburban office market showed signs of stabilizing in late 2022 as leasing activity was driven by tenants upgrading to higher-quality buildings.
Auto Camera Manufacturer Leases Billerica Property
A manufacturer of cameras used in auto assembly will open a new facility in Billerica after leasing R&D space in Axis Park North.
Lab Market Shrunk in Q4 Amid Sublease Surge
Greater Boston’s once-burgeoning lab market took a step back in the fourth quarter, as sublease space hit 1.5 million square feet.
Taunton Trade Center Gets 260K SF Lease
A speculative industrial development at Taunton Trade Center landed a plumbing supplier as tenant for nearly half of the available space.
Rents Dip Again at Downtown Office Properties
Asking rents declined at downtown Boston office properties as the availability rate approached 20 percent at the end of 2022, the highest level in two decades.
Alewife Labs Get 155K SF Lease Expansion
A global biopharma company will occupy an additional 155,000 square feet at 200 Cambridge Park Drive in Alewife after signing a lease expansion.
Needham Property Attracts Biotech HQ
A Canadian biotech firm will open a new U.S. headquarters in Needham at a property that’s attracted life science and tech tenants under Bulfinch Cos.’ ownership.
Local Banks See Fewer Opportunities to Lend as Fed Tightens Policy
Amid the rapid rise in interest rates and economic uncertainties, community banks continue to close new commercial real estate loans, including for multifamily projects looking to address the region’s housing needs. But the money isn’t flowing as freely as it might once have.
Industrial Real Estate Retains Durability
Signs of softening have started to appear in Greater Boston’s industrial and warehouse property market. But that doesn’t mean it’s time to ring the alarm bell for 2023. This is still very much a strong sector, experts say.
Downtown Springfield Apartments Sold for $42.6M
A four-building apartment complex near the MGM Casino in downtown Springfield was sold by a Woburn developer for $42.6 million after 28 years of ownership.
Personnel File – No. 310
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Reebok Offers Big Sublease at Seaport HQ
Reebok is offering the vast majority of its Seaport District headquarters for sublease, amid a wave of downsizing by Boston office tenants that is pushing sublease availabilities to record highs.
Fairfield Pays $23M for Woburn Development Site
A 20-acre parcel in Woburn has been acquired for $23.4 million by San Diego multifamily developer, airfield Residential following approval of its plans for a 425-unit apartment complex.
Funding Climate Clouds Biotech Growth Trajectory
The Boston metro has been a leader in life science research for decades, and while its upward trajectory continued so far this year, a few headwinds are mounting.
Burlington GenLabs Lands Lexington Researchers
A Lexington diabetes research firm has signed the first lease at at a Burlington office building being converted into life science space.
Worcester Apartments Sold to Lawrence Investor After Upgrades
A Worcester apartment complex that was updated with new amenities by its previous owner has been acquired by Lawrence-based Arrowpoint Properties for $26.7 million.
Industrial Rents Rose 27 Percent in Past Year
Asking rents for industrial properties in Greater Boston hit record highs in the second quarter after a 27.5 percent increase in the past 12 months.
Haverhill Mill Apartments Trade for $77M
The Hamel Mill Lofts, a 305-unit renovated historic mill apartment community located at 40 Locke St. in Haverhill, has sold for $77 million.
Lab Rents Dip in Seaport, Cambridge
Asking rents for lab space in two of the highest-priced local submarkets – Cambridge and Boston’s Seaport District – dipped in the second quarter amid an uptick in subleasing activity.
