News: Spotlights

2022 Ones to Watch: James McCormack, Chief Estimator at Erland Construction

What recent project, transaction or accomplishment are you most proud of? Over the past 6 months, I’ve had the opportunity to work alongside our estimating team in closing two of Erland’s largest contracts to date–each over $100 million. Both projects underwent several rounds of bidding and faced various budget challenges due to the current market conditions. I’m most proud of the way our team navigated the rising costs and limited resources the industry is facing. By continuously promoting these projects to our subcontractor base and driving value management, we were able to impactfully reduce costs for our clients and help these exciting projects moved forward.

What led you to your current profession? One of my uncles has a small excavation company and, fortunately for me, he didn’t mind hiring a high school student with no experience in need of a work-study program to help him. That turned into long hours after school and many hot summers laboring, operating equipment, and doing whatever was required to complete each job. This experience shaped my work ethic and sparked my interest in construction. During my junior year, I found out about the Wentworth construction management program and the rest is history.

What are you doing when you aren’t working? When I’m not working, I enjoy spending time with my family and friends. Most of my weekends are devoted to traveling to my daughter’s cheer competitions and playing outside with my son.

 

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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

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<br> the First Annual Project of the Year Award! Vote today!

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

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 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