News: Spotlights

NAI Hunneman Commercial brokers three leases

NAI Hunneman has brokered a 7,500 s/f office sub-lease on the 39th floor of the Prudential Center. David Cooney, an associate at NAI Hunneman Commercial, represented the tenant, Orthofix, a global diversified orthopedic products company. Tom O'Regan of Richards Barry Joyce & Partners represented the sub-landlord, Gillette. Completed in 1964, the Prudential Tower is a 52-story Class A office tower that is part of the Prudential Center, a 3.2 million s/f urban center comprised of 2.6 million s/f of office space and 620,000 s/f of retail space. The complex provides direct access to the Mass. Pike and on-site access to the MBTA Green Line, as well as the largest parking garage in New England with space for 3,660 cars. NAI Hunneman also brokered a 2,800 s/f, three-year office lease at 87 Summer St. Cooney and Jeffrey Becker, senior vice president, both of NAI Hunneman, represented the landlord, New York City-based Centurion Realty. Timothy Bianchi of Cushman & Wakefield represented the tenant, The Concord Group. Built in 1877 and renovated in 1982, 87 Summer St. is a 25,413 s/f office building located at the heart of Boston's Financial District. The property enjoys access to all MBTA lines, South Station, I-93 and I-90, and area amenities found at Downtown Crossing. In another transaction, NAI Hunneman brokered a 2,194 s/f five-year office lease at 607 Boylston St. Christian Gotfredson, senior vice president of NAI Hunneman, represented the landlord, Hunneman Management, and the tenant, IACE Travel. Built in 1900 and renovated in 1993, 607 Boylston St. is a seven-story, 42,000 s/f office building located in Boston's historic Back Bay. The property enjoys on-site banking services, close proximity to public transportation and attractive area amenities.
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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