Colliers International Bostons Week In Review


Real Estate Articles of Note
March 31 – April 6, 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.


Mount Ida College to close; UMass to acquire Newton campus
The Boston Globe — April 06, 2018
Struggling Mount Ida College and the University of Massachusetts have struck a formal agreement for students of the small school to complete their degrees at UMass Dartmouth. Mount Ida will close, and UMass Amherst will acquire its campus as a Boston-area outpost.


Despite fears, NIH grants to Bay State organizations hit a record high in 2017
Boston Business Journal — April 05, 2018
NIH funding increased $2 billion in fiscal 2017 to $34 billion. While the fiscal 2018 grant data isn’t yet complete, data from fiscal 2017 suggests that Massachusetts has remained fiercely competitive in receiving those funds.


Boston’s Taj hotel to get an overhaul, possibly with some of Mark Zuckerberg’s money
The Boston Globe — April 05, 2018
Financial terms were not disclosed, but records filed this week in Suffolk County indicate an arm of Iconiq Capital LLC — which manages money for Facebook founder Mark Zuckerberg, among other tech-industry titans — bought a $190 million interest in the hotel, and then took out a $160 million mortgage on it.


Lab instrument maker Waters Corp. plans $215M expansion in Taunton
Boston Business Journal — April 04, 2018
The expansion, which Waters (NYSE: WAT) announced on Tuesday, will add 135,000 square feet to the company’s existing 48,000 square-foot facility in Taunton.


Drugmaker Alkermes confirms expansion, hiring plans in Waltham
Boston Business Journal — April 03, 2018
Alkermes (Nasdaq: ALKS) disclosed in a federal filing last week that it had signed a lease for a new 220,000 square-foot office in Waltham that will be completed by 2020.


Proposal could charge landlords for empty storefronts, luxury units
The Boston Globe — April 03, 2018
The fee could help fund housing affordability initiatives for business owners and renters, or could help reduce property taxes for occupied properties.


Could the MBTA finally connect the Red and Blue lines? The state is looking into it, again
The Boston Globe — April 03, 2018
The T will embark on a three-month study of the proposed Red-Blue connector, a long-imagined idea to extend the Blue Line from its terminus at Bowdoin Station to the Charles/MGH Red Line stop.


Here's a first look at one of Amazon’s future Seaport offices
Boston Business Journal — April 02, 2018
An office building in Boston’s Seaport District where Amazon is negotiating to lease some 430,000 square feet of space is scheduled to begin design review this month, and the project’s design team has submitted a presentation that gives a closer look at the 17-story office.


North Station-to-Seaport District ferry could launch in the fall
Curbed Boston — April 02, 2018
The Massachusetts Convention Center Authority has issued a request for proposals to underwrite the service for a year, with an eye toward extending it for three additional years. If the authority can line up the private funding—and it looks like it can—then service could start in late August or September.


Boston officials want Millennium Partners to strengthen Winthrop Square tower design
Boston Business Journal — April 01, 2018
The Winthrop Square development team has agreed to alter the design of its proposed tower to more closely resemble the design it used to win the fierce competition to purchase a city-owned garage and develop a tower there — but city officials are requesting the team further strengthen the tower’s interior and exterior design.


After a flat year, Greater Boston’s rents are starting to rise again
The Boston Globe — April 01, 2018
The price of an apartment in the region is on the upswing after staying relatively flat over the last year or so, raising the question of whether Boston needs to build even more places for people to live if it hopes to make a meaningful dent in what are some of the nation’s priciest rents.


Robotic supergadget aims to make tiny apartment spaces livable
The Boston Globe — March 30, 2018
Ori, an MIT-spawned startup, makes a robotic furniture system that can fit a queen or full-sized bed, two desks, an entertainment center, and a walk-in closet into a package as small as 8 feet by 5 feet.




Colliers In The News


Colliers International's Market Viewpoint: Q1 2018
Colliers Boston — April 06, 2018
We are proud to announce the publication of this quarter's Market Viewpoint on the Greater Boston office and lab market.


Brookwood Sells FP Giglio 110,000 SF Via Colliers for $11.1M; Rockland Trust Loans $8.9M
The Real Reporter — April 05, 2018
Two resilient 1980’s-era office buildings here have become the latest investment conquests of regional firm FP Giglio. Listed exclusively by Colliers International, the two-story buildings were marketed on behalf of Brookwood Financial Partners.


Colliers Secures Construction Financing for CT Self Storage
Commercial Property Executive — April 03, 2018
The firm has arranged the construction loan on behalf of Prospectus LLC, for the development of a 906-unit self-storage facility in Stamford, Conn.


Waterstone Melnea Cass LLC acquires multiple properties for $15.5 million
Bldup — April 06, 2018
The acquired properties will supply land for the development of Junction 58, a new project being led by John Carroll III and Richard Barnett of Colliers Boston.


The Need For Speed: Boston’s Tight Office Market Fueling Co-Working's Rising Influence
Bisnow — April 03, 2018
“Tenants used to be in the market way far in advance of a lease expiration or their renewal notice time period,” said Colliers International Executive Vice President Kristin Blount. “Because their business is changing more rapidly than before and the newer kind of TAMI tenants make up a lot of growth, the speed to market and need to move quickly is something that is really important to them.”


Not your parents’ office? Now it is: Tech workspaces start to grow up
The Boston Globe — April 05, 2018
Boston’s tech workplaces are growing up. Play spaces that were designed to recruit twentysomething workers are out; low-key but tasteful furniture is in. A contributing factor, said Aaron Jodka, research director with real estate services firm Colliers International in Boston, is the whole phenomenon of co-working and shared office spaces.



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