News: Front Section

CBRE | The Boulos Co. leases 60,000 s/f to TD Bank for new call center

TD Bank will expand to a 60,000 s/f retail space, formerly Steve & Barry's, at the Auburn Mall. TD Bank, which already employs 1,100 in Lewiston-Auburn, will expand its footprint by opening a 500-person call center at the Auburn Mall. The retrofit project will convert the space into a LEED certified telecommunications center. When the work is completed in 2010, the bank will relocate 200 of its customer service operators from its Bates Mill facility in Lewiston. The Auburn Mall and the city of Auburn expect the new facility to employ 250 people when it opens and grow to a total employment level of approximately 500 people by 2011. The project represents a $16 million investment by the bank. "This investment by TD Bank is a solid economic development victory for Auburn, and Maine overall, as the project was considered for other states in a very competitive environment," said Tony McDonald, CCIM/SIOR, partner, CBRE | The Boulos Co. McDonald represented TD Bank and Craig Young, CCIM, partner, CBRE | The Boulos Co. represented mall owner George Schott in bringing this transaction to fruition.
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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