News: Front Section

McKinnon of Grossman Companies executes 10,500 s/f lease for GMS

GMS Transportation, Inc., an air freight, ocean freight trucking, and distribution firm, has leased 10,500 s/f at 230 McClellan Highway (Rte. 1A). The building consists of air freight warehouse and office space with ten loading docks and is one of the closest to Logan International Airport's main entrance. Richard McKinnon, director of brokerage services for The Grossman Companies, Inc., represented the tenant and the landlord, South Terminal Trust, in lease negotiations. GMS is relocating from the Chelsea location where it began in 1986. Owners Steve Mortell, David Hester & James Andrea cited several reasons for the move: proximity to Logan; visibility and identity on Route 1A; more than twice the number of loading docks; and yard space for his 25 delivery trucks. Business has grown in recent years, partly because many companies are eliminating in-house shipping departments and using an outside vendor such as GMS. GMS primarily serves the area within Route 495, but services all of New England, including forwarders, import brokers and commercial businesses. The facility has 24-hour security. The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon: 617-472-2000; RichMck@grossmanco.com. The company website is www.grossmanco.com.
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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