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February 14, 2023

This Week's Boston Deal Sheet

Venue Announced: 33-41 Farnsworth To Host Boston Life Sciences Real Estate Conference March 28
Lincoln Property Co. is partnering with Mass Bay Credit Union to build a mixed-use development in South Boston that will include a new headquarters for the credit union.

This Week's Boston Deal Sheet

Lincoln filed a letter of intent with the Boston Planning & Development Agency Friday to build an eight-story, 113K SF office-and-lab building and a 13-story, 111K SF residential building at 147 West Fourth St., a site consisting of five parcels of land.The developer also plans to build a new two-story, 15K SF office building for MBCU to replace its old…

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Top Stories on Bisnow.com

Walmart To Shutter 3 Tech Centers, Shuffle Workers To Different Places Walmart To Shutter 3 Tech Centers, Shuffle Workers To Different Places
Taconic Lands $300M Refinancing For NYC Life Sciences Project Taconic Lands $300M Refinancing For NYC Life Sciences Project
Uber Closing All Data Centers, Moving To Google, Oracle Clouds Uber Closing All Data Centers, Moving To Google, Oracle Clouds
Banks Boost Reserves At A Time Of Record CRE Lending And A Wobbly Economy Banks Boost Reserves At A Time Of Record CRE Lending And A Wobbly Economy
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Mayor Wu Submits Finalized Rent Control Proposal To City Council

Mayor Wu Submits Finalized Rent Control Proposal To City Council

Mayor Michelle Wu has finalized her plan to bring rent control back to Boston and submitted it to the city council. Wu filed a home rule petition for rent stabilization Monday that will be formally introduced to the council Wednesday, four weeks after details of the pending proposal were first reported. The filing marks the start…

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Boston’s Seaport District: Preservation Through Conversion To Life Sciences

PRESENTED BY:   MLL Capital
 
Boston’s Seaport District: Preservation Through Conversion To Life Sciences

Massachusetts has been a central hub for life sciences and tech companies for decades, with neighborhoods like Cambridge’s Kendall Square acting as the epicenter for innovation. Historically a biotech hub, this market is quickly expanding into other parts of the industry and state. In 2021, the number of people employed in the biopharma…

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In Case You Missed It...

As Industrial Market Reaches ‘Plateau,’ Boston's Small Footprint Is A Big Benefit As Industrial Market Reaches ‘Plateau,’ Boston's Small Footprint Is A Big Benefit
Related Beal Files Plans For New Seaport Lab Project Related Beal Files Plans For New Seaport Lab Project
Lincoln Property's Hyde Park Project Receives Rare Rejection From BPDA Lincoln Property's Hyde Park Project Receives Rare Rejection From BPDA
Developer Destroyed Potential Evidence Ahead Of Suit Over Failed Boston Condo Tower, Judge Rules Developer Destroyed Potential Evidence Ahead Of Suit Over Failed Boston Condo Tower, Judge Rules
Alexandria Acquires Waltham Property For $272M, Eyes New 'Mega Campus' Alexandria Acquires Waltham Property For $272M, Eyes New 'Mega Campus'
 
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Federal Government’s Return To Office Delayed By Union Disputes

Federal Government’s Return To Office Delayed By Union Disputes   When President Joe Biden said in his State of the Union address on March 1, 2022, that the “vast majority” of federal workers would soon return to the office, workers at the Equal Employment Opportunity Commission had been waiting months for a post-Covid office re-entry plan. Three days after Biden’s address, the EEOC’s employees were provided with a plan. It had no remote work policy and ignored months of engagement with decision-makers, Rachel Shonfield, president of the union representing more than 1,500 EEOC employees, told Bisnow.  “My phone lit up … folks were saying, ‘Why did we fill out these surveys, why did we go to these focus groups, because nobody listened!’” Shonfield said. “People were so completely demoralized.” After the policy was unilaterally imposed in May, her union, the American Federation of Government Employees Council 216, filed an unfair labor practice charge against the EEOC. The Federal Labor Relations Authority sided with the union in June, arguing that the EEOC hadn’t been negotiating in good faith.The two sides reached a temporary agreement with a more flexible telework policy in November, but Shonfield said the dispute speaks to a broader issue: that officials are trying to “check boxes” in their return-to-office push without taking the time to understand the needs of their employees.  The…

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Still Hot, Just Not 'Blistering': U.S. Industrial Market Starting To Look Like 2019

Still Hot, Just Not 'Blistering': U.S. Industrial Market Starting To Look Like 2019   Few things in real estate will ever go back to their pre-pandemic normal, but after three years of breathless expansion and record-setting growth, that’s where industrial property is headed. The country’s biggest industrial REITs posted strong results in their Q4 earnings, and leasing brokers have filled hundreds of millions of square feet basically as soon as construction is finished. Neither of those dynamics is expected to shift dramatically, but as 2023 progresses, industry leaders predict a market more closely resembling that of 2019.“We are coming off the best back-to-back years of new industrial leasing activity that we've ever tracked across the U.S., including a blistering pace of absorption, just not sustainable long-term,” Cushman & Wakefield Senior Research Director of U.S. Industrial & Logistics Jason Price told Bisnow. “In 2023, we expect leasing…

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