BOSTON-A new report released by Torto Wheaton Research, a locally based real estate research firm, indicates that this area's vacancy rate is slightly below the national average.

BOSTON-Standard Life Investments establishes its first physical presence in the US by leasing space here at One Beacon St. on Beacon Hill. The company, a division of Standard Life Group, one of Europe's largest mutual financial services companies, is leasing a 10,845-sf office.

BOSTON- Virgin Entertainment Group opens a Virgin Megastore here as part of its campaign to open an additional 13 stores in North America within five years. The 40,000-sf store here on Newbury Street is among the company's larger locations.

BOSTON-A new report released by Torto Wheaton Research, a locally based real estate research firm, indicates that this area's vacancy rate is slightly below the national average.

BOXBOROUGH, MA-Cisco Systems Inc.'s plan to develop seven buildings here is partially back on track, revising the San Jose, CA-based company's earlier decision to hold off on its expansion projects because of the recession.

BOSTON-PNC Financial Services Group closes down the local office of VentureBank@PNC, the company's venture capital arm. A representative of the company tells GlobeSt.com that the move is part of PNC's effort to restructure its venture capital activities.

BOSTON-While the new owners of the Boston Red Sox have stated that they want to renovate Fenway Park rather than build a new ballpark on another site, local activists who support the plan are concerned that local pressure might affect the outcome of that decision.

MEDFORD, MA-Abbot RE Development LLC Acquires One Brainard Ave. here in the Route 495/South area. The company purchased the 56,000-sf manufacturing facility from JJJ Realty Trust for $5.4 million and plans to redevelop the site into a multifamily housing complex.