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“This sale of a Hobby Lobby with less than 10 years remaining to an institutional buyer signifies that although retail is shifting, big box is not dead,” says Marcus & Millichap's Sabrina Kortlandt.
The fitness company known for its online indoor cycling classes will relocate its headquarters from Chelsea to Cove Property Group's Hudson Commons in 2020.
The agency gave the go-ahead for the Related Beal project that calls for the redevelopment of seven parcels in the Fenway neighborhood known as 533-541 Commonwealth Ave. and 650-660 Beacon St.
The entity— GLP Continental Europe Development Partners I— is expected to reach a value of $2.3 billion of assets under management when fully invested.