Colliers International Boston's Week In Review


Real Estate Articles of Note
April 28 – May 4, 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.


Partners HealthCare, Harvard Pilgrim discussing possible merger
The Boston Globe — May 04, 2018
Leaders from Partners, Massachusetts’ largest network of doctors and hospitals, and Harvard Pilgrim, one of the state’s largest health insurers, have been talking for several months, company officials confirmed Friday.


Economic News Release: Employment Situation Summary
United States Department of Labor — May 04, 2018
Total nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9 percent, the U.S. Bureau of Labor Statistics reported today.


Biotech unicorn Moderna raises another $125M from partner Merck
Boston Business Journal — May 03, 2018
Just three months after raising $500 million from a group of investors, Cambridge-based biotech unicorn Moderna Therapeutics has secured another $125 million from Merck & Co. Inc. under an existing cancer vaccine collaboration.


Winthrop Square tower design finally approved
The Boston Globe — May 03, 2018
The design of the soaring skyscraper — which at 690 feet would be the tallest building in the Financial District — returns closer to the original proposal filed by Millennium, which beat out five other local developers for rights to the site in 2016.


Why can’t Boston build taller?
The Boston Globe — May 02, 2018
There are 67 buildings in the United States that are taller than anything in Boston. For a big city, Boston is kind of short.


Bain life sciences fund backs Lowell’s Rapid Micro Biosystems in $60M round
Boston Business Journal — May 02, 2018
Bain Capital’s first-ever life sciences fund has added another local company to its portfolio, participating in a $60 million round for Rapid Micro Biosystems, a Lowell-based firm that makes a machine capable of detecting microbial contamination in drugs and other medical products.


Amazon to lease warehouse, hire 130 in Braintree
Boston Business Journal — May 01, 2018 Inc. intends to lease 200,000 square feet of vacant warehouse space in Braintree and retrofit the facility as a warehouse and distribution space, which could employ 130 when it’s up and running.


Latest South Station Tower Delay Shows Ongoing Cost Spat With City, State And Hines
Bisnow — May 01, 2018
The Boston Planning & Development Agency’s zoning commission unanimously approved developer Hines’ plan for a 678-foot mixed-use tower over South Station in March 2017. More than a year later, the state has yet to give its blessing, and the project has needed a series of time extensions for Hines to keep its development rights.


State OKs waterfront plan, paving the way for two downtown towers
Boston Business Journal — May 01, 2018
Chiofaro Co. has moved one step closer to making its long-envisioned tower at the site of Boston’s Harbor Garage a reality, thanks to a key state approval of a planning document that outlines development guidelines along the city’s waterfront.


Cambridge’s Ironwood Pharmaceuticals to split into two businesses
Boston Business Journal — May 01, 2018
Cambridge-based Ironwood Pharmaceuticals said Tuesday that it plans to separate into two publicly-traded companies, one focused on the company’s commercial business of gastrointestinal drugs, and the other focused on developing treatments for rare disorders and other serious conditions.


Alexa drives Amazon’s local hiring: It confirms 2,000 jobs being added in Seaport
The Boston Globe — May 01, 2018
Amazon confirmed Tuesday that it plans to hire 2,000 employees at a new facility in Seaport Square that will focus largely on developing its Alexa voice-activated technology.




Colliers In The News


Upcoming BOMA events and Regional TOBY Award Winners
New England Real Estate Journal — May 04, 2018
The Budgeting & Accounting course running from May 30 through June 28 will be instructed by Dennis Callahan, executive vice president at Colliers International.


Bottled up: Industrial space for breweries is hard to find
Boston Business Journal — May 03, 2018
"There's no question that over the last four or five years, craft beer (tenants) have gobbled up a bunch of space," said Austin Smith, senior vice president with Colliers International in Boston. "I would categorize that space as quasi-industrial and quasi-retail."


Braintree shuttle lot awaits development
The Boston Globe — May 03, 2018
"I think it will be well received in the marketplace," said James Elcock, the president of Colliers International’s Boston office. "You can build a nice mixed-use project there with wonderful visibility."


Theater District Property Could Become Condo Tower
Banker & Tradesman — May 03, 2018
Weston-based Hemisphere Development has acquired two properties in the Theater and Financial districts for $23 million with plans for condominium development in both. Colliers International Boston’s investment sales team led by Chris Sower represented the seller, and its capital markets team secured $21.5 million in acquisition and predevelopment financing from Knighthead Funding LLC.


Colliers Arranges $23M Sale of 2 Boston Properties
Commercial Property Executive — May 01, 2018
Senior Vice President of Multi-Family Investment Sales Christopher Sower, along with Executive Vice President of Investment Sales Scott Dragos and Capital Markets Executive Vice President Jeff Black, led the Colliers team.



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