Colliers International Bostons Week In Review


Real Estate Articles of Note
April 7 – April 13, 2018

The following represents articles of interest to the Boston real estate community that appeared in various publications during the week. Certain news links may require site registration or subscription to access the complete article.


Urban core’s high rents, suburbs’ lack of transit have developers picking in-between places
The Boston Globe — April 13, 2018
For decades, the Boston-area office market has largely been split in two. Companies could be in the heart of the city, or out on Route 128. Now, a growing number of developers are betting that at least some companies would like to be somewhere in the middle.


Boston Mayor Does Not Plan To Enter Multibillion-Dollar Amazon HQ2 Incentive Race
Bisnow — April 12, 2018
Maryland lawmakers have approved up to $8.5B in incentives to bring Amazon’s second headquarters within their state lines. While Massachusetts has never been expected to commit to a figure that high, Boston Mayor Martin Walsh confirmed this week the city would not offer incentives on that scale unless they came attached to costly infrastructure fixes.


Massachusetts ranks high for venture capital investments in Q1
Boston Business Journal — April 12, 2018
Massachusetts had its highest number of dollars invested into venture capitalist backed companies in a quarter ever, this past one, with $2,269 million.


Wynn Resorts in preliminary talks with MGM to sell Everett casino
The Boston Globe — April 12, 2018
Casino giant Wynn Resorts has had preliminary talks about selling its $2.5 billion Everett gambling resort to MGM Resorts International, a move that would remake the state’s casino industry before it is even on its feet, according to a person familiar with the talks.


Alexandria will launch its own biotech incubator in Kendall Square
Boston Business Journal — April 12, 2018
Alexandria Real Estate Equities is launching a 20,000-square-foot life science incubator in the heart of Cambridge’s Kendall Square neighborhood that aims to give early-stage biotechs access to low-cost lab space and connections to venture capital.


Millennium Unveils New ‘Two-Tower’ Winthrop Square Design
Banker & Tradesman — April 11, 2018
Millennium Partners has redesigned its 1.6-million-square-foot Winthrop Square development with a distinctive new facade and a narrow glass walkway connecting two high-rises on the upper floors. The two towers’ heights would top out at 691 and 613 feet, with a glass walkway connecting them from the podium up to 587 feet.


Commission OKs 20 recreational marijuana applicants for review
Boston Business Journal — April 10, 2018
Over 600 users have registered for priority applications to operate recreational marijuana dispensaries through the Cannabis Control Commission. Twenty of those saw their registered marijuana dispensary applications approved at a CCC public meeting.


Marshalls is closing in Back Bay — and Wayfair’s first showroom could take its place
Boston Business Journal — April 09, 2018
Online furniture retailer Wayfair (NYSE: W) intends to open its first brick-and-mortar showroom at 500 Boylston St. in the Marshalls space. The store would likely accompany Wayfair’s anticipated 400,000-square-foot office expansion at 500 Boylston St. and 222 Berkeley St.


Burlington Mall planning 'multimillion-dollar' renovation
Boston Business Journal — April 09, 2018
The 1.3 million-square-foot mall, anchored by such stores as Macy's, Lord & Taylor, Nordstrom and Primark, will begun work on the project this summer.




Colliers In The News


Personnel Churn Continues in CRE Brokerages
Banker & Tradesman — April 08, 2018
Jim Elcock, president of Colliers International Boston, said his firm continues to look at additions in its urban and suburban leasing teams, capital markets and retail divisions, each of which could add “a couple of brokers” in the short term.


Two Boston Office Buildings Nab $38M Refi From Nationwide Life
Commercial Observer — April 09, 2018
Nationwide Life has provided a $38 million mortgage to refinance a pair of adjacent office buildings in downtown Boston, according to an announcement from Colliers International Boston. John Broderick and Stephen Horan of Colliers' capital markets team arranged the financing for the deal.


Amid Uncertainty Over Maine Pot Legislation, Some Would-Be Growers Move To Mass.
WBUR News — April 10, 2018
Austin Smith, a Boston-based broker with Colliers International, says he's working with a handful of growers who want to secure a footprint in Massachusetts. "There's a ton of cultivators swirling around," Smith says. "A lot of them looking at existing buildings, some of them wanting to build their own buildings."


CarGurus Eyes Expansion In East Cambridge
Banker & Tradesman — April 12, 2018
The online automotive marketplace has committed to 121 First St., a 48,500-square-foot speculative office building developed by Cambridge-based developer Urban Spaces. First-quarter vacancy rates for office and lab space in East Cambridge remain below 2 percent, according to research by Colliers International Boston.



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