GREATER BOSTON-Preliminary third quarter figures released by Torto Wheaton Research indicate that this area's vacancy rates in office space are edging closer to the national average and an analyst with the firm blames the high volume of construction.
LEXINGTON, MA-Permanent financing is arranged for a three-building office and research and development complex here near Route 128 and Hanscom Field, indicating that deals are still happening despite the slowdown in the market here.
WOONSOCKET, RI-CVS Corp., which is headquartered here, will close 200 stores due to slowing sales. A spokesperson for the company, one of the country's largest drugstore chains, says that it is not yet clear where those closings will be.
BOSTON-David Wyss, the chief economist for Standard & Poor's Corp. in New York City, tells GlobeSt.com that this area's commercial real estate market will probably not see a turnaround until next year, and conditions in the market will worsen before they improve.
FRAMINGHAM, MA-Genzyme Corp acquires a protein manufacturing facility in Belgium, and decides to suspend development of a protein production plant here near the company's campus. The Belgium-based facility is to become the company's second major protein plant.
BOSTON-As yet another indication of the nature of the office market here, Pappas Industrial Properties decides to change its plans for the Court Square Press building here in south Boston from office space to residential space.
BOSTON-A Hines regional manager tells GlobeSt.com how the company has managed to save hundreds of thousands of dollars in energy costs by implementing green products in two of its buildings here. The buildings received the energy star designation from the federal Environmental Protection Agency and the Department of Energy.
BOSTON-Voters here are soon going to the polls to decide whether there will be a 2% surcharge on their property taxes to finance affordable housing, open space and historic preservation. As Election Day nears, the battle lines are being drawn.
BOSTON-A Hines regional manager tells GlobeSt.com how the company has managed to save hundreds of thousands of dollars in energy costs by implementing green products in two of its buildings here. The buildings received the energy star designation from the federal Environmental Protection Agency and the Department of Energy.
GREATER BOSTON-A third quarter report indicates that while vacancy rates have gone up, a good deal of that is due to sublease space. A local industry expert insists that this is an indication that while the economy is suffering, the commercial real estate market here is fundamentally healthy.