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Ex-EMC Campus Sells for $26M: A developer that has a track record of repositioning former tech campuses for tenants including Amazon and GE has another opportunity in Southborough following the acquisition of a 20-acre former EMC property.
Framingham-based Atlantic Management acquired a former EMC Corp. property for $26.1 million this week from Dell Inc. Located near the interchange of Route 9 and Interstate 495, the property includes a 193,680-square-foot office building completed in 1972.
Led by Joseph Zink, Atlantic Management has successfully completed turnaround strategies at suburban tech campuses in the past decade.
What Else Is on Tap Today?
Boston Tax Bill Officially Dead: Despite compromises struck between the city and stakeholders, Senate President Karen Spilka said Monday night that she has “heard clearly that there currently is not sufficient support for this proposal.”
110-Unit Office Conversion: An 11-story Boston office building that’s 68 percent vacant is slated for a residential conversion tapping into a state program subsidizing affordable units.
Little Bang for Your Buck: Renters in Boston are not getting a lot of space for their money, even with the most expensive rents in the nation: $3.10 per square foot.
Draft ADU Rules Unveiled: Towns and cities now have answers to what they can – and, importantly, can’t – do to regulate accessory dwelling units. And the list of “can’ts” is long.
Don’t Miss This
The five biggest real estate and banking stories you have to read today, including from B&T’s pages.
Politicians in Cambridge, Boston and Somerville are all seeking to stop tenants from having to pay apartment broker fees. But will that hurt renters in the end? (Banker & Tradesman)
Boston homeless youth nonprofit Breaktime is buying a downtown office building on Franklin Street for new offices and a clinic. The price: just $6.3 million. (Boston Globe)
Decades of low housing demand have obscured a fundamental truth about Western Massachusetts: Public policy is contributing significantly to home blight and abandonment. (Andrew Mikula in Banker & Tradesman)
The National Association of Realtors has created a nonprofit that gives more heavily to one side of the political aisle and to groups that have little to do with real estate and housing. (New York Times)
Millennials priced out of the most coveted suburbs are turning to upscale single-family rentals nearby. (Wall Street Journal)
