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April 27, 2023

BXP Focusing Investments On Labs, Apartments As Office Market Struggles

Veris Residential CIO Jeff Turkanis Discusses How To Make Multifamily Deals Pencil In This Environment June 27

While office assets continue to struggle on a national level, Boston Properties has pushed to diversify its holdings in better-performing asset classes like life sciences and residential.

BXP Focusing Investments On Labs, Apartments As Office Market Struggles

One of the largest office real estate investment trusts in the nation, BXP owns 171 office properties in six markets, but its development pipeline today is weighted more heavily toward life sciences. The REIT has seven life sciences projects under construction totaling 1.9M SF and one 417K SF multifamily project. By contrast,…

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Suburban Boston Office Building To Be Auctioned Off After Losing Anchor Tenant

Suburban Boston Office Building To Be Auctioned Off After Losing Anchor Tenant

A Class-B office building in Quincy is heading to auction in the coming week, another troubling sign for the weakening Boston-area office market.The seven-story, 119K SF building at 400 Crown Colony Drive is scheduled for an online auction on Monday with a starting bid of $2.5M, according to a Ten-X listing.The…

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Alexandria Pauses Projects, Cuts Construction Spending By $250M

Alexandria Pauses Projects, Cuts Construction Spending By $250M

Biotech REIT Alexandria Real Estate Equities plans to cut its construction spending by $250M this year by pausing or delaying projects in its portfolio.On the real estate investment trust's first-quarter earnings call Tuesday, Alexandria President Peter Moglia attributed the decision to labor shortages and rising wages amid an already-volatile…

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Retail’s New Normal Delivers New Wrinkles In Lease Terms, Negotiations

Retail’s New Normal Delivers New Wrinkles In Lease Terms, Negotiations  

Retail’s e-commerce and pandemic-charged shakedown has changed the tenant-landlord relationship.

Deals have gotten more complicated amid constricted cash flow and rising interest rates, while the scars of rent forbearance and payment disputes have landlords pushing for more stability in their leases, retail industry leaders said Tuesday at Bisnow's National Retail Conference at 1540 Broadway in Manhattan.

 

“It’s not just about great real estate, it's about great landlords,” said Taryn Brandes, the founder of retail brokerage and advisory firm Brand Urban. “Security and guarantee has been negotiated in a way that I've never, never seen before." Retail tenants hoping to sign new leases will increasingly find themselves…

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