News: Spotlights
Posted: December 25, 2020
2020 Year in Review: James Umphrey, Kelleher & Sadowsky
Principal
Kelleher & Sadowsky
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2020? Helping to bring biomanufacturing to Worcester! Representing the WBDC, the K & S team orchestrated two land parcel transactions at The Reactory, the 46-acre biomanufacturing campus in Worcester. In May, Shanghai-based WuXi Biologics purchased a seven acre parcel to build a $60M+ clinical and commercial manufacturing facility. Construction of a two-story 107,000 s/f building is underway and due to be operational in 2022. In August, Galaxy Life Sciences purchased a six acre parcel to build a $50 million multi-modal life sciences facility. Site work has begun and construction will begin in the spring.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary