CAMBRIDGE, MA-The Massachusetts Institute of Technology is acquiring Technology Square from Beacon Capital Partners. The site, which includes three existing buildings and four buildings under construction, is the university's fifth commercial investment in the area.
BOSTON-Millenium Partners has acquired the financing to buy The Ritz Carlton on the Public Garden and The Ritz Carlton on the Boston Common here. The seller is MPE Hotel I LLC.
BOSTON-Beacon Capital Partners prepares to develop Channel Row, the warehouse complex it bought last summer. Complications over a mid-rise building that exceeds height requirements and residential housing requirements could hinder the company's progress.
QUINCY, MA-Stop & Shop Supermarket Co. buys control of Bradlees store leases, guaranteeing the bankrupt retailer at least $150 million. The supermarket chain once owned Bradlees and could be held liable for some of the leases.
BRAINTREE, MA-An investment group led by Quincy-based Grossman Cos. has purchased Braintree Executive park here. Grossman built the two buildings in the late 1980s.
BOSTON-Boston Properties Inc. proposes additional development at the 25-acre Prudential Center here, including a hotel and a 19-story apartment tower. A residents advisory group opposes the plan.
CHELSEA, MA-Wyndham International, Inc. opens its eighth hotel in the state with the opening of the Wyndham Chelsea here. Through a franchise agreement, the 180-room hotel will be part of the city's Urban Renewal District.
WESTBOROUGH, MA-EMC Corp. wants to develop two campuses--one here and one in neighboring Southborough--but will need voters' approval for rezoning. The company plans on building nearly two million sf of office space.
NEWTON, MA-Teachers Insurance and Annuity Association sells Two Newton Place here for $25.9 million or $238 per sf. Local brokers consider the price relatively high for the Boston suburban office market.
BOSTON-The Convention Center being built in South Boston is reportedly way over budget, prompting the Massachusetts Convention Center Authority to stop design work on the project while it reviews the numbers.