Hennessey and Lombardi of GVA Williams leases 19,437 s/f for Nokia; CB Richard Ellis reps. landlord
John Hennessey and Stephen Lombardi of GVA Williams represented Nokia, Inc., the mobile advertising firm, in their recent 19,437 s/f lease at 31 St. James Ave. in Boston's Back Bay. The five-year lease will increase their presence in the building; from the 9,581 s/f that Enpocket, who Nokia acquired in September of 2007, already occupies, to a total of 29,018 s/f. The landlord, Capital Properties, was represented by Tim Lyne and Peter Conlin of CB Richard Ellis.
Nokia, Inc., chose the space at 31 St., James Ave., also known as the Park Sq. Building, as it provides proximity to public transportation, the amenities of the Back Bay, and the accessibility to their client base. The 11-story, 500,000 s/f Park Sq. was renovated and modernized in 1991. Nokia will be moving into the space in November.
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
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.
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.