One Congress Refinanced for $650M
Boston’s One Congress office tower received $650 million in refinancing from Bank of America and Wells Fargo.
One Lincoln Office Tower Headed to Auction
Lenders scheduled a real estate auction for the 1.1 million-square-foot One Lincoln tower in Boston, in the biggest example of fallout from the downtown office market’s post-pandemic distress.
What Corporate Allyship Looks Like
From chocolate chip to blue chips, Massachusetts business leaders have local and national role models for doing the work needed to authentically live, not hide their corporate values.
Boston Fed Names New Board Members
State Street Corp. Chairman and CEO Ronald O’Hanley has been elected to the Federal Reserve Bank of Boston’s board of directors effective Jan. 1, the Boston Fed said in a statement yesterday.
State Street, Brown Brothers Harriman Terminate Deal
Citing regulatory feedback and the likely steps needed to address that feedback, Boston-based State Street Corp. has agreed with Brown Brothers Harriman & Co. to terminate the proposed acquisition of BBH’s investor services business.
Another Fire Knocked Down at One Congress
Boston firefighters responded Saturday to the second fire in five weeks at the One Congress office tower in downtown Boston.
M&T, Citizens, Santander Pass Fed Stress Test
The nation’s largest banks, including many key to the New England economy, have strong capital levels and would be able to continue lending to households and businesses during a severe recession, according to the Federal Reserve’s annual stress test.
Law Firm Announces Relocation to One Congress
A downtown Boston law firm has committed to become the second tenant at the One Congress office tower.
One Lincoln Owner Details Post-State Street Repositioning
The owner of Boston’s One Lincoln St. plans a major repositioning of the 36-story office tower following the departure of State Street Corp.’s headquarters, including a new 25,000-square-foot terrace in the sky with basketball and tennis courts and outdoor dining.
State Street Launches Digital Assets Division
Boston-based State Street Corp. has launched a new division focused on addressing the industry’s evolving shift to digital finance.
State Street to Pay $115M Criminal Penalty
State Street Corporation has agreed to pay a $115 million criminal penalty to resolve charges that it schemed to defraud clients by secretly overcharging some of its customers for as long as 17 years, federal investigators said Thursday.
Fed Stops Big Banks from Buying Back Stock, Caps Dividends
A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday.
Businesses Must Learn Before Trying to Make Change on Racism, Berkshire’s Lazu Says
With panelists participating in a Greater Boston Chamber of Commerce panel on racism calling for action to change the systems that allow racism and inequality to persist in the business community, Berkshire Bank’s Malia Lazu said business leaders still need to take time to listen and learn.
Sublease Market Spikes as Companies Rethink Real Estate
Local commercial real estate researchers are tracking nearly 500,000 square feet of sublease space in Greater Boston that’s hit the market since mid-March as the area faces questions about the future of office space and a sizable construction pipeline.
Fed Terminates Enforcement Action Against State Street
An enforcement action against Boston-based State Street Corp. over Bank Secrecy Act and anti-money laundering regulations was terminated Thursday by the Federal Reserve Board.
Boston Office Leasing Slowed Before COVID-19 Hit
Boston’s office market had its slowest quarter in more than three years even before the brunt of COVID-19 impacts began to affect companies’ expansion strategies, according to a new research report.
D.C. Developer Buys Stake in Boston Tower
A Washington, D.C. developer that’s majority owner of the future State Street Corp. headquarters at One Congress in Boston has invested in another downtown office tower.
Bulfinch Crossing Residential Tower Tops Off
Presales and leasing for 368 apartments and 55 condos will begin in January at Bulfinch Crossing’s 46-story residential tower.
South Shore Shake-Up
State Street Corp.’s recent decision to sublease two of its four Quincy office buildings totaling nearly 390,000 square feet shakes up a suburban submarket that’s been the heart of the financial service provider’s back office presence in Massachusetts. Will new projects Dorchester draw away tenants?
Boston’s Office Development Boom Accelerates
Office vacancies continued to fall in Boston while developers broke ground on projects that will add 2 million square feet of new workspaces in the second quarter.
