Colliers International Boston's Week In Review

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Real Estate Articles of Note
January 12 – January 18, 2019

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.

 

 

 

State Street to lay off 1,500 in turn toward automation
Boston Business Journal — January 18, 2019
State Street Corp. plans to lay off approximately 1,500 employees in “high-cost locations,” or 6 percent of its global workforce, and ramp up efforts to automate its services to clients, the company said Friday.

 

Beth Israel Lahey Health announces new organization for five-hospital merger
Boston Business Journal — January 18, 2019
Beth Israel Lahey Health, fresh off a merger, has said they're combining five health systems into four departments. The health system is also now detailing the new appointments behind the integrated entity.

 

Downtown Boston housing market pulls away from rest of the city—way away
Curbed Boston — January 18, 2019
Recent numbers show just how wide the gap has become

 

Puma is moving its North American HQ to Somerville from Westford
Boston Business Journal — January 17, 2019
Footwear maker Puma plans to open a 150,000-square-foot headquarters at 455 Grand Union Blvd. in Somerville’s Assembly Row in 2021.

 

A new front door: A sneak peek inside the $1.2B Hub on Causeway
Boston Business Journal — January 17, 2019
The TD Garden is one of the first landmarks commuters see as they cross the Zakim bridge or emerge from North Station. Soon, it will be The Hub on Causeway, a project that has been 20 years in the making.

 

Boston demographics report shows population growth, diversification since 2010
Curbed Boston — January 16, 2019
Share of non-Hispanic white population shrank as city added 60,000-plus residents from 2010 to 2017

 

This Newbury Street parking lot may sell for tens of millions
The Boston Globe - Print Edition — January 15, 2019
Longtime owners of modest parcel at the corner of Dartmouth decide to cash in.

 

Suffolk Construction CEO looks beyond industry for top talent
BostonGlobe.com — January 15, 2019
Bold Types: As John Fish tries to turn Suffolk Construction into more of a tech company, he has looked outside of the construction industry to build his management team.

 

Co-living company Quarters raises $300 million for U.S. expansion that includes Boston
Curbed Boston — January 15, 2019
Timeline for any opening in the city still up in the air, but the likeliest locations are in downtown

 

Green Line Extension 60 Percent Complete, On Schedule
Banker & Tradesman — January 15, 2019
The leader of the MBTA's Green Line Extension project told T overseers Monday that the trolley service extension is about 60 percent designed and said he has not seen signs of possible snags on the horizon.

 

Amid housing crunch, city officials propose new real estate taxes on ‘flipping’ and sales over $2 million
The Boston Globe - Print Edition — January 14, 2019
The proposal would set a tax of up to 6 percent on many commercial and residential sales over $2 million, and establish a “flipping” tax of up to 25 percent on some properties that are sold twice within two years.

 

Shaw’s is closing some grocery stores in Mass. and N.H.
The Boston Globe - Print Edition — January 14, 2019
Shaw’s will be closing three supermarkets in Massachusetts and one in New Hampshire next month because the locations are “underperforming.”

 

 

COLLIERS IN THE NEWS

 

Insights from Colliers’ 40th Annual Trends In the Real Estate Market Seminar: Coworking
colliersinfocus.com — January 18, 2019
At Colliers International’s 40th Annual Trends In the Real Estate Market Seminar, “Connecting the Dots,” the topic of coworking was front of mind. Coworking has had a profound impact on the real estate market: It’s a new food group that landlords, tenants, and capital sources are paying close attention to. It is disrupting the model of long-term leases, offering tenants flexibility and ease of entry.

 

Plans to Revamp Former Necco Facility Near Boston Move Forward After Developers Secure Financing
CoStar — January 17, 2019
Atlantic Management, VMD Planning to Convert Former Candy Manufacturing Complex Into Distribution Space

 

Colliers Boston Arranges $115 Million Bridge Financing for Atlantic Management & VMD Companies
Boston RE Times — January 15, 2019
Colliers International announced that its Boston-based Capital Markets group has arranged $115 million in bridge financing for Atlantic Management and VMD Companies to refinance the 826,000 SF former NECCO candy manufacturing facility located at 135 American Legion Highway in Revere, MA.

 

Boston firm buys $20 million of Brockton industrial space
Wicked Local Brockton — January 07, 2019
W.B. Mason’s warehouse at 1010 West Chestnut St. was included in the transaction.

 

 

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