News: Spotlights

Plunkett and Minnerly of Cushman & Wakefield broker seven lease transactions totaling 113,460 s/f

In what is perhaps a sign that the local commercial real estate market is rebounding, Cushman & Wakefield senior directors J.P. Plunkett and Catherine Minnerly have recently brokered 113,460 s/f of transactions south of Boston, where the overall vacancy rates for office space are 18.2% (Rte. 128 south) and 26% (495 south). The overall industrial vacancy south of the city is 10.9%. Asking rents for office space on a gross net of electric basis average $21.72 (128 south) and $19.65 (495 south) and $6.71 NNN (south industrial). In Norwell, C&W represented Smiths Medical in its 15,309 s/f office lease with Rader Properties at 600 Cordwainer Dr. in Accord Park. James Rader and David Mitchell negotiated for the landlord. In Norwood, C&W represented Urban Equities in its 21,600 s/f industrial lease with Tractel, Inc. at 51 Morgan Dr. Taryn Wilson and Lance Carleton of Grubb & Ellis represented the tenant. In South Boston, C&W represented AMB Property Corp. in its 19,863 s/f showroom/warehouse lease with Asmara, Inc. at 88 Black Falcon Ave. James Brady of C&W worked with Plunkett and Minnerly on this assignment. In Randolph, Atlantic Management leased 17,000 s/f of warehouse space to Independent Flooring at 39 Teed Dr. C&W was the sole broker in this transaction. Also in South Boston, C&W represented the Zine Family Trust in its 16,088 s/f showroom/warehouse lease at 50 Von Hillern St. to Sonepar Electric who was represented by Jeff Hamilton of CB Richard Ellis. In Avon, at 40 Robbie Rd., C&W again represented Urban Equities in a 13,000 s/f industrial lease to Urban Express. Also in Randolph, C&W represented Atlantic Management in its 10,600 s/f industrial lease to Ashland Textile at 53 Teed Dr.
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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