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A Fenway commercial property added a major new tenant in Berklee School of Music.
But what does it have in store for the property?
Berklee leased nearly 39,000 square feet at 1249-1255 Boylston St., a 3-story office-retail building, through 2040. The school has a history of friction with neighborhood groups and city officials over its real estate strategy.
The owner of the Boylston Street property, Boston-based Samuels & Assoc, declined comment. Berklee spokeswoman Tory Donahue did not respond to requests for comment.
What else is on tap today?
- Related Beal, Dream Picked: The BPDA officially designated the development team for four Boston Water and Sewer Commission parking lots last night, and OK’d additional housing units and lab space elsewhere in the city.
- Wu Defends Tax Plan: Boston Mayor Michelle Wu said her plans to increase troubled office towers’ share of the city’s tax burden were vital to “avoid making our housing crisis worse.”
- Boston Office Rents Off 10 Percent: Office vacancies in Boston rose slightly in the first quarter, according to new brokerage reports, and a wave of expiring leases in coming months will provide hints at the future direction of the market.
- Big Bank Earnings Mixed: JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
- South Coast Rail Delayed Again: After previously delaying the start of South Coast Rail passenger service by about six months, MBTA officials now say they are reassessing the schedule and do not have an updated timeline to share.
What can I look forward to?
Here are just a few of the things to look forward to in Sunday’s newsletter. Not a B&T subscriber? Change that here.
- Will Boston-area apartment buildings face their own “wall of maturities”?
- What should you do, as a buyer’s agent, if you’re worried about your commission?
- How will Boston’s new, wide-ranging downtown rezoning work?
