Hot Property: The Abbot
Boston Realty Advisors has negotiated leases with a group of new tenants totaling 30,000 square feet of retail space at the Abbott in Harvard Square.
Norwood, Framingham Hotels Sold to Newton Developer
The new owner of a pair of suburban Boston hotels that cater to business travelers plans to renovate the properties following a $26.6 million acquisition.
Malden Lab Conversion Pays Off for Berkeley Investments
With a lab conversion scheduled for completion within weeks, owners of Malden’s 200 Exchange finalized leases with their first three life science and research tenants totaling nearly 100,000 square feet.
Greystar Enters Massachusetts Industrial Market with South Shore Project
Greystar’s first industrial development in Massachusetts will create nearly 413,000 square feet of distribution space scheduled for completion in late 2023.
Biotech Tenant Demand Shrinks by 2.7M SF
A new report from commercial real estate brokerage JLL says tenant demand in Greater Boston has fallen by nearly 40 percent this year.
Leading Life Science Clusters Share Strengths and Risks
Neither Boston nor San Francisco are likely to cede their top spots in the life science ecosystem to challengers with lower costs and more affordable development sites, even as the sector enters a contraction phase.
Matching Tenants and Landlords in a Shifting Market
Life science brokers like Molly Heath are adjusting to new market fundamentals as they help match biotechs with space availabilities even as the industry’s rapid growth in the last two years cools.
First Suffolk Downs Residential Building Gets Financing
Developers received a $150 million construction loan for the first residential building at the former Suffolk Downs racetrack property.
Newton Hotel Group Adds to Portfolio with Provincetown Inn Purchase
A Newton hospitality group is adding to its rapidly expanding Bay State portfolio with the acquisition of a 19th-century inn and restaurant in Provincetown.
Somerville Labs Get $278M in Construction Financing
A development team received a $278 million construction loan for a Somerville lab project scheduled for completion in 2024 in the growing Boynton Yards life science cluster.
Chinatown Garage Sold to NY Investor
A New York City investor has received $19.6 million in acquisition financing for a Chinatown parking garage after acquiring the property from Quincy-based Foxrock Properties.
Natick Developer Seeks New Tenants for former Burberry Store
The new owner of a Newbury Street property previously anchored by Burberry’s will seek to fill the retail and office space in the six-story building across from the Boston Public Garden.
New Owners Plan $20M Upgrade at Back Bay Hotel
The new owners of the former Loews Boston hotel will spend $20 million on updates and renovations of the 225-room property following a $117 million acquisition.
Hot Property: 15 McGrath Highway
Despite the general softening of the local life science real estate market, a major pension fund has decided to back Somerville’s latest spec lab high-rise.
Two Berkshires Hotels Sell
A two-hotel portfolio totaling 171 keys in Lenox has sold to a new owner in a $38 million deal.
Allston, Somerville Lab Projects Get $1.1B in Financing
A pair of new life science campuses in Allston and Somerville being developed on speculation received nearly $1.1 billion in construction financing.
FoxRock Gets Financing for Next Quincy Development
A $58.5-million construction loan from Citizens Bank will catalyze the development of FoxRock Properties’ 201-unit Center & Stone complex in Quincy.
Urban Edge Buys Hyde Park Retail Property
A neighborhood retail center in Boston’s Hyde Park has been acquired by Urban Edge Properties for $32.9 million.
Greystar Launches Lab Pipeline in Somerville
The nation’s largest apartment developer chose Somerville for its entry into life science development, kicking off its first project in the emerging Assembly Square lab cluster.
Oliver-Bain Partnership Buys Potential Last-Mile Distribution Center in Lowell
A partnership between Boston-based Oliver Street Capital and Bain Capital Real Estate acquired a vacant single-story building on Lowell’s Industrial Avenue for $10.6 million.
