BOSTON—A year-end market report by brokerage firm Transwestern states that at the end of 2016, the 20-million-square-foot lab market in Greater Boston sported an availability rate of 5.9%, up from 4.7% six months earlier, and a vacancy rate of just 4.4%.
WALTHAM, MA—The 35% share for first-time buyers is the lowest share of first-time buyers since the Home Buyers and Sellers Profile began collecting Massachusetts data in 2003.
BOSTON—Commercial brokerage firm JLL, in a newly released analysis on global real estate foreign investment, ranked the City of Boston as number six in the US and 13th globally for foreign real estate capital investment.
BOSTON—The industrial market segments—warehouse, manufacturing and flex—are on extended runs of positive absorption. For example, the warehouse market, which posted 147,000 square feet of positive absorption in the fourth quarter of last year, has now seen 18 straight quarters of positive absorption.
CAMBRIDGE, MA—The agreement calls for MIT to design and build an approximately 400,000-square-foot, state-of-the-art federal facility to replace the aging Volpe Center.
BOSTON—The Boston-headquartered firm has added two international master franchise agreements that launch SVN operations in Seoul, South Korea and Warsaw, Poland.
BOSTON—The Financial District saw the most action in terms of positive absorption in the fourth quarter at 69,000 square feet, thus lowering its overall vacancy rate to 9.7%. Class A space in the Financial District, which is in high demand, saw 237,000 square feet of positive absorption in the fourth quarter.
WALTHAM, MA—The Massachusetts Association of Realtors reports that single-family home sales were up nearly 20% for the month of November at 4,784 total transactions—a new monthly record.
BOSTON—Gov. Baker says the program that looks to create better and smarter uses for state-owned properties has resulted in the sale or lease of 22 state-owned pieces of land.
BOSTON—In total, the BPDA approved eight development projects valued at more than $1 billion. In addition, the BPDA Board approved the PLAN, an initiative geared at implementing infrastructure, quality of life and housing improvements in the South Boston Dorchester Avenue region.