Leasing

Apartment rents in the market have increased nearly 5% over last year to an average of $1,440 per unit.

Apartment Guide provides figures on the 50 most expensive cities to lease housing in the US, ranging from studios to three bedrooms.

Rents near college campuses are typically higher than the average multifamily rents in the market.

Boston Properties' new development at 325 Main is replacing an existing four-story commercial office and retail building at the site, formerly known as 3 Cambridge Center. The new building comprises approximately 375,000 gross square feet of new office space and 42,000 gross square feet of retail space at the lower levels.

Since the $61-million purchase, the new ownership has engaged in a more than $10-million capital improvement program aimed at creating a modern and flexible industrial property.

The Los Angeles-based commercial and industrial investment firm sold the property, which is fully leased to True Value, to a joint venture of Brennan Investment Group, LLC of Chicago and Greenwich, CT-based Arch Street Capital Advisors, LLC.

New insurance technology allows owners to eliminate the need for security deposits, which has big benefits for both renters and owners.

The deadline for Real Estate Forum's next installment of Influencers is fast approaching. Be sure to nominate the people and firms who shape the CRE multifamily market by July 24th.