Real Estate Articles of Note
May 11 – May 17, 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.
I.M. Pei, a master whose buildings dazzled the world, is dead at 102
Boston Business Journal — May 17, 2019
I.M. Pei, who began his long career designing buildings for a New York real estate developer and ended it as one of the most revered architects in the world, died early Thursday at his home in Manhattan. He was 102.
LaSalle Sells 10 Post Office Square for $238.72M
Banker & Tradesman — May 17, 2019
A 14-story office building in the heart of Boston's financial district has been sold for $238.72 million.
Raytheon leases space for 600 workers at Tewksbury's former Wang Labs
Boston Business Journal — May 17, 2019
Waltham-based defense contractor Raytheon Co. is leasing 134,000 square feet of office space at the former Wang Laboratories headquarters in Tewksbury and plans to house 600 employees at the facility.
Related Beal Closes On $218M Deal For Fort Point Channel Site
Bisnow - Boston — May 16, 2019
Related Beal has officially closed on 6.5 acres along Fort Point Channel for a hefty sum.
Wayfair cracks Fortune 500 list, joins 15 other Mass. companies
Boston Business Journal — May 16, 2019
Wayfair, the Boston-based online furniture retailer, joined the ranks of Massachusetts businesses with a spot on the Fortune 500, Fortune magazine’s list of the 500 highest-grossing companies in the United States.
Pennsylvania Developer Buys Suffolk Microunit Dorm For $75M
Banker & Tradesman — May 16, 2019
An Allston microapartment building that’s been used as dormitory space by Boston University and Suffolk University for the last three years has been acquired by a Pennsylvania developer for $75 million.
WeWork is setting up a $2.9 billion fund to buy buildings that it will lease to itself
Business Insider — May 15, 2019
The move represents a strategy shift for the company, which has previously focused on leasing space from other property owners.
Atlas-backed Kymera signs deal with Vertex worth up to $1B
Boston Business Journal — May 15, 2019
Cambridge startup Kymera Therapeutics just earned $70 million and could get up to $1 billion after signing a four-year collaboration deal with Vertex Pharmaceuticals.
Massachusetts is No. 1 for pre-K through 12th grade education, according to new ranking
The Boston Globe - Print Edition — May 15, 2019
Massachusetts is a pretty amazing place to live, according to a new US News & World Report ranking that came out Tuesday.
Industrious To Put Coworking Spaces In Equinox Fitness Clubs, Starting With Hudson Yards
Bisnow - New York — May 15, 2019
Industrious has signed a nationwide partnership to bring coworking spaces to Equinox health clubs, and its first location will be 44K SF at 35 Hudson Yards.
Ocean Spray Opens Office At Seaport WeWork
Bisnow - Boston — May 14, 2019
Ocean Spray is opening a Seaport office within a WeWork to focus on developing new product lines.
COLLIERS IN THE NEWS
Unitex Takes 188K SF at MA Facility for New Plant
Connect CRE — May 14, 2019
Unitex Healthcare Laundry Services took the entire 188,653-square-foot building at 155 Shepard St. Lawrence, MA. The Elmsford, NY-based company will backfill the formerly owner-occupied Crown Cork & Seal manufacturing plant, following a more than $30-million building renovation.
Mansfield Rental Complex Sold to NYC Investors
Banker & Tradesman — May 13, 2019
New York City-based Corigin Real Estate Group has made its first investment in Massachusetts’ multifamily market with the $15 million acquisition of a 66-unit apartment complex developed by the Turner Bros. construction firm.
Colliers Releases Top Office Market Report: Boston’s Proves to be the Most Dynamic
Boston RE Times — May 13, 2019
Colliers International released its top office market report for the first quarter of 2019 and said Boston remains the most dynamic market.