Photo courtesy of Margulies Perruzzi Architects

Eastern Bank is consolidating its suburban office space north of Boston to a Wakefield office park owned by Hobbs Brook Real Estate.

The bank leased 51,751 square feet at 601 Edgewater Drive, part of Hobbs Brook’s Edge campus, the Waltham-based developer announced. The transaction represents a 73 percent reduction in the bank’s office footprint north of Boston.

The deal will see Eastern’s downtown Lynn offices and a Cambridge Trust operations center in Burlington consolidated.

What else is on tap today?

MVCU Picks Up Another Merger: Merrimack Valley Credit Union, which is set to rebrand next year, continues to grow through mergers. Its latest: the 681-member Cabot Boston Credit Union.

Haverhill Lofts Sold: A Watertown multifamily developer acquired a one-time leather goods factory converted into loft-style apartments in downtown Haverhill for $13.7 million.

Boston Tax Deal’s Drop-Dead Date: State senators have to pass the city of Boston’s home rule petition temporarily raising commercial tax rates by Monday, a top city official says, but that’s far from certain to happen.

Don’t Miss This

The five biggest real estate and banking stories you have to read today, including from B&T’s pages.

1) The construction industry is bracing for a one-two punch from tariffs and deportations under Donald Trump. (Wall Street Journal)

2) Compass is buying Christie’s International Real Estate for $444 million.  (Bloomberg)

3) The final ()slow zone-related MBTA subway shutdown starts this weekend. (MBTA)

4) Are people losing interest in second homes? It appears so, according to an analysis of the latest Census Bureau data. (Lew Sichelman in Banker & Tradesman)

5) Mall giant Simon says foot traffic was up 6.4 percent across its portfolio on Black Friday. (Chain Store Age)