News: Retail

Bierbrier Develeopment holds groundbreaking ceremony for 19,200 s/f retail center

Bierbrier Development Inc., a Lexington, Mass.-based developer of urban shopping centers celebrated its 40th groundbreaking for the start of construction of Needham Street Village Shops, located at 55Needham St. Featuring 19,200 s/f of leasable area and 79 total parking spaces, Needham Street Village Shops will be a LEED Silver retail project ready for occupancy this summer. More than 50 people attended the groundbreaking ceremony including city officials, business and community leaders and members of the project development team. Newton mayor Setti Warren, who was guest of honor at the groundbreaking ceremony said, "We are thrilled, we are thrilled about what is happening on Needham Street. It is a long-time coming." Bierbrier Development president Len Bierbrier said, "Today's groundbreaking is a major milestone for everyone involved in this project. It celebrates the implementation of the vision that the city of Newton has for the 21st Century conversion of Needham Street to a retail boulevard enhancing the live, work, play theme so relevant to the community. We are very appreciative of the officials of the city of Newton and the city's land-use committee and board of Aldermen for their guidance, cooperation and professionalism throughout the permitting processes of this project." Needham, Mass.-based Bowdoin Construction is serving as the general contractor. Cambridge, Mass.-based Prellwitz Chillinski Associates is the project architect. Atlantic Retail Properties is the exclusive leasing for the property.
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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