News: Retail

CitiBank, represented by Meredith & Grew, leases 5,787 s/f of retail space

Citibank, a division of Citigroup, Inc., the global financial services company, has leased 5,787 s/f of premier street-level retail space at 99 High St., a 730,000 s/f signature first class office and retail building in the city's Financial District. The space is on the corner of High and Congress St. and serves as the 11th Citibank retail branch to open in Greater Boston area. Meredith & Grew senior vice president Ted Chryssicas and associate Jon Martin represented the tenant. Jones Lang LaSalle managing director Bill Barrack and vice president Ben Heller represented the landlord, TIAA-CREF, in the transaction. An extensive capital improvements program at the building is now underway. The upgrades a new monumental portal entrance, granite facade on the lower levels, awnings and planters at street level, lobby lighting, and system updates. The new 99 High rises above the Rose Kennedy Greenway. Distinctive features include: panoramic water and skyline views; a flexible office layout; efficient floor plates of 25,000 s/f; telephone and data capabilities; enhanced electrical; and parking within the building. Jones Lang LaSalle has completed over 320,000 s/f of leasing in the building over the last five years. Current tenants include Adams Harkness, NASD, KPMG and AON. The management team is comprised of senior vice president Dan Ozelius and vice president Bruce Clifford. Jones Lang LaSalle managing director Mark David oversees all construction activities. Elkus/Manfredi Architects is designing the renovations.
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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