News: Front Section

Allergan, Inc. adds 10,000 s/f to lease at Cummings Properties facility in Medford - now occupies 37,000 s/f

Allergan, Inc. recently added 10,000 s/f to its facility at 200 Boston Ave. The international healthcare company now occupies a total of 37,000 s/f of first-class office and laboratory space at the Cummings Properties-managed building. Allergan acquired local firm Serica Technology in 2010, and opted to retain its Medford location. Originally named Tissue Regeneration by founder and Tufts University alum Greg Altman, the firm has expanded four times since leasing 2,000 s/f at the same site in 2003. Allergan develops and commercializes pharmaceutical products and medical devices such as Botox, Restasis, and Lap Band. The facility is focused on the development and manufacturing of SeriScaffold, a surgical mesh made out of a proprietary silk-based material. According to Cummings Properties' senior account manager, Tony Spencer, Allergan's expansion space is part of a four-story, 35,000 s/f addition, slated for completion this month. Allergan's new space translates to greater research, development, and manufacturing capabilities for this new product, expected to be available commercially sometime this year. Spencer said, "The timing was ideal, as Allergan's growth coincided with our planned growth for the building. We were delighted to be able to accommodate its needs with brand new, first-class space." Spencer noted that nearly 90% of the addition had been pre-leased. Allergan, Tufts University, and agricultural biotech firm Agrivida will each occupy an entire floor of the new space.
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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