Back in April, we announced the plans for a large construction project in the Fan Pier area. Today, construction continues on the South Boston waterfront site, the future home of Vertex Pharmaceuticals. The figures released yesterday stated that about 2500 cubic yards of concrete were poured 42-feet below the surface to start the first of [...]
Want to move to greener pastures? How about a greener building? Russia Wharf tower may be the place for you. With a planned completion in 2011, the mix-use office and residential complex on the corner of Atlantic Avenue and Congress Street in Downtown Boston will offer luxury accommodation with a minimum carbon footprint. Besides earning [...]
The Federal Home Loan of Boston has just announced that they have reviewed their budget and will be cutting back 5% of their budget expenses, a savings of $3 Million annually. They will reach this goal with a combination of salary cuts, other expense reductions and also an elimination of 18 employees. It seems like [...]
Prices for commercial real estate sold by institutions such as pension funds fell by close to 6 percent in the first quarter of 2009, according to the MIT Center for Real Estate. The 5.8 percent drop in the prices is the fourth consecutive quarterly drop and the sixth in the past seven quarters, according to [...]
There are always trends within markets. Even in this recession, we are seeing a significant upward swing in multi-family home sales, which can produce instant cash flow for owner/occupants or investors. While single-family homes and condos linger on the market, multi-family properties are practically flying off the shelves in the Boston area. Lower prices and interest [...]
Construction of One Marina Park Drive hit an important milestone Wednesday: the topping off. A topping off ceremony is usually held to put the last steel beam in place. Due to wind gusts, developer Joseph Fallon held off hoisting the beam but celebrated the milestone nonetheless. The 525,000-square-foot office and retail building under way on [...]
Biopharmaceutical company Merrimack Pharmaceuticals Inc. renewed its lease of 31,747 square feet on the second floor and expanded into an additional 18,748 square feet on the fourth floor of Building 600 at 1 Kendall Square in Cambridge, MA. Buildings 600, 650 and 700 at 1 Kendall Square total 234,631 square feet on five floors. The [...]
Boston Properties got the go-ahead on Thursday to build a 422,000-square-foot office building in front of the Prudential Center on Boylston Street. After a 17-month permitting process and heavy public opposition, Boston Properties will construct a tower standing 242 feet high. Residents and community activists lined up on Thursday in one last-ditch effort to thwart [...]
The 1.3 million-square-foot mixed-use development to be built above the Mass Turnpike seems to be pushing forward. Despite financial setbacks, Columbus Center’s developer said the $800 million project is still alive and well.”We have no intention of abandoning it,” Roger Cassin, managing partner of WinnDevelopment, told Banker & Tradesman in an interview. The Columbus Center [...]
The fourth quarter of last year was a telling quarter for the commercial real estate brokerage industry. While major brokerage firms reported record revenues and healthy net income last year, results dropped off sharply in the fourth quarter reflecting a weakening commercial real estate environment. The latest quarter results are also a sign of what [...]
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