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July 15, 2021

Tech Firm Signs 131K SF Lease At Massive Spec Waltham Project

[In-Person] Madison Park Development Corp. & Community Builders talk Construction & Financing Development Aug. 24

Hobbs Brook Real Estate has secured a 131K SF lease from a Cambridge-based tech firm at the 500K SF Waltham lab and office building it is building on spec. The deal — and the reasoning behind it — should buoy owners of suburban office buildings hoping to cash in on a rethinking of office portfolios.

Tech Firm Signs 131K SF Lease At Massive Spec Waltham Project

Software company Pegasystems has signed an 11-year lease with Hobbs Brook at the 225 Wyman St. development, according to Securities and Exchange Commission filings. The lease is the latest 100K SF-plus deal in Boston’s suburbs, which have seen increased activity this year.A Pegasystems spokesperson told Bisnow it signed the deal…

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IQHQ Pays $50M For 140K SF Commercial Site Near Boston Landing

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IQHQ is expanding into new territory, acquiring a 140K SF commercial property in Brighton for $50M. The San Diego-based REIT purchased 155 North Beacon St. from The Hamilton Co. last month, according to Suffolk County land records. The two-story building is currently occupied by a…

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The Great Golf Course Contraction Might Be Over

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The 21st century so far hasn’t been good to the business of developing and running U.S. golf courses. After a boom in the sport in the 1990s, the game has lost some popularity in the past 15 years, taking many golf courses out of circulation, some of which have been fully redeveloped as residential or mixed-use properties.

Yet the game, and the business, might be stabilizing, if not making a comeback. Last year saw more golfers out playing and fewer courses closed. The data isn’t conclusive yet, but as the golfing world turns its eyes to Royal St. George's Golf Club for The Open Championship Thursday, golf’s worst days may be behind it.

Golf in recent decades has been boom-then-bust. Between 1987 and 2020, the number of 18-hole equivalents, or 18-HEQs, that opened totaled 4,567, while the number that closed totaled 1,645, according to the National Golf Foundation. An 18-hole equivalent is a measurement of golf course supply that divides the…

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