Tech titans including once set the pace for the commercial real estate market along Interstate 495. But after years of stagnant leasing activity, changes of ownership for three office parks spanning 541 acres are prompting large-scale redevelopments.
Home prices in suburban Boston have surged during the pandemic, with disenchanted urbanites and others looking for more space to spread out. But it’s had only a limited impact, if that, on the commercial real estate market in Greater Boston’s sprawling suburbs.
Demand is simply outstripping supply for all types of industrial space, including old-fashioned light-manufacturing space, and there’s no end in sight despite recent facility conversions and new construction of millions of square feet of supply.
As Jeff Bezos prepares to blast off next week, real estate developers are exploring new frontiers for e-commerce sites in Massachusetts.
A giant vacant mill at the center of legal disputes and dreams of future redevelopment for a Central Massachusetts mill town will be leveled to entice future development.
A REIT owned by pension giant TIAA has made a large industrial acquisition in the Interstate 495 corridor.
Billerica’s economic development office is now empty amid conflicts over how the town should continue to grow.
A 63,539-square-foot medical building 100 percent leased by six tenants in Haverhill has been sold to Irvine, California-based American Healthcare Investors for $15.5 million.
An Andover office building near the intersection of Interstates 93 and 495 has sold for $8.27 million.
A company that provides pharmacy services for nursing homes and senior living facilities is relocating to Taunton’s Myles Standish Boulevard.
A Chelmsford flex portfolio occupied by such tenants as Endeavor Robotics and Thermo Fisher Scientific has been sold for $15.75 million to a Springfield investor.
A Marlborough industrial portfolio has sold for $18.1 million.
Industrial development is ramping up to the highest levels seen in the current real estate cycle, driven by a group of large speculative projects designed to satisfy shifting shopping patterns and the Massachusetts building industry’s demand for storage space.
A large office building in Marlborough has sold for $21 million.
