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Boston

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Boston’s original leading source for commercial real estate news, analysis, trends, events and resources in office, industrial, retail, multifamily, hotel, healthcare and net lease property sectors.

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    Multiple published reports state the sale price for the property was $614 million, making the deal the largest sale price recorded for an office asset year-to-date in Boston’s Central Business District.

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    Mass. Governor Orders Closure of All Non-Essential Businesses in Response to Spread of Coronavirus

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    Gov. Baker has also directed the Department of Public Health to issue a stay at home advisory outlining self-isolation and social distancing protocols. Residents are advised to stay home and avoid unnecessary travel and other unnecessary activities during the two-week time period.

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    Cambridge Joins Boston in Instituting Construction Moratorium Due to Coronavirus

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    The moratorium was imposed on Wednesday and is in effect until further notice. The action by Cambridge comes a day after Boston Mayor Martin Walsh instituted a construction ban in the City of Boston. To date, Massachusetts Gov. Charlie Baker has not called for a construction work stoppage statewide.

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    Boston Pauses ‘Non-Essential’ Construction in City

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    New projects cannot be started at this time unless it meets certain criteria. Any currently permitted and active construction project must be in a secure situation by Monday, March 23.

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    The CBRE report states that life science companies occupy approximately 30 million square feet of lab space in Greater Boston with more than 4 million square feet of space in the development pipeline.

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    Governors, Mayors Tighten Restrictions to Prevent COVID-19 Spread

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    “Our lives are all changing in ways that were unimaginable just a week ago,” New York City Mayor de Blasio stated.

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    The 15-year Freddie Mac loan secured on behalf of Chestnut Hill Realty features a 65% loan-to-value ratio and a 30-year amortization schedule.

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