WESTBOROUGH, MA-Signaling its entry into the Greater Boston market, NJ-based Advance Realty Group acquires four buildings here and in Southborough. The real estate development organization plans on investing $500 million on properties in the Northeast over the next two years.
BOSTON-The Boston Museum Project wants to build a city museum on one of two prime pieces of real estate here. The project requires the support of the city but the mayor has not committed himself yet.
BOSTON-Hoping that this area becomes an address for office space, Intercontinental Cos. is renovating the former Stop & Shop bakery here in the North Station area. The $90-million project involves adding an additional six floors to the building.
WEYMOUTH, MA-MassTech Center's plan for the former Naval Air Station here is getting a lot of publicity but officials from the South Shore Tri-State Development Corp., which is overseeing the base's reuse, are frustrated by the company's lack of a specific plan.
DEDHAM, MA-New York-based Strategic Resources Corp. has acquired Dedham Executive Center here. The 180,000-sf office building is 95% occupied but SRC estimates the 20% of the leases will be rolled over annually for the next three years.
GREATER BOSTON-The drop in the Federal interest rate will have a positive impact on the commercial real estate market here by making it easier to finance projects and by stabilizing the economy, according to local industry experts.
CAMBRIDGE, MA-Despite earlier reports that talks were stalled, Beacon Capital Partners, sells One Kendall Square to a joint venture of the J.E. Robert companies and Lincoln Property Co. for $192 million.
BOSTON-Local activists opposed to the new Fenway park project, are angered over the Fenway Planning Task Force's zoning proposal that includes the new ballpark in its recommendations.
BOSTON-As an indication of the company's interest in entering the US four-star hotel market, Millennium Hotels is renovating its 12 hotels in the US, including the Regal Bostonian here.
BOSTON-The surprise election of Charles Yancey to City Council president dims the Red Sox hopes of receiving additional funding from the city. Yancey is a strong critic of the new ballpark plan.