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July 11, 2023

Lab Projects Slow To Lease Up In Greater Boston As Demand Plunges

Hear From The City Of Cambridge As Leaders Discuss Life Sciences Growth & Economic Drivers July 18

Boston's life sciences market is going through a transformational period as tenants re-evaluate what space they actually need.

The region's once-hot leasing market slowed dramatically in the second quarter, totaling less than one-third of the activity in the first quarter, according to Cushman & Wakefield data. The firm found that new life sciences demand in Greater Boston totaled 305K SF during Q2. 

Lab Projects Slow To Lease Up In Greater Boston As Demand Plunges

Cushman & Wakefield Vice Chair Connor Barnes said he thinks the market is stabilizing after unusually high demand earlier in the pandemic.“I don’t think anyone anticipates it going back to that,” Barnes said. “We do anticipate that the demand will begin to normalize sooner than later.”Across the board, 14.7% of the…

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This Week's Boston Deal Sheet

Mayor Michelle Wu's administration announced Monday it plans to launch an office-to-residential conversion pilot program in a new effort to revitalize the city's underutilized commercial buildings.

This Week's Boston Deal Sheet

To incentivize office owners to launch conversions, the city plans to reduce property tax rates for the immediate conversion of offices to residential buildings. A reduction of up to 75% of the standard tax rate could be provided for residential projects for up to 29 years, according to a press…

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How Special Servicers Handle Troubled CRE Loans This Cycle Will Be Different Than Past Downturns

How Special Servicers Handle Troubled CRE Loans This Cycle Will Be Different Than Past Downturns  

With roughly $50B in CMBS loans tied to office buildings maturing in the next 18 months, special servicers — the firms hired by CMBS trusts to resolve issues as they arise — are about to be very busy.

The number of properties that have been transferred to special servicing is on the rise, but unlike the last two times special servicing rates shot up — in 2020 at the onset of the pandemic and during the Global Financial Crisis — interest rates are already…

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Inside The Growing Real Estate Asset Class That's A Favorite Of Bill Gates, The Mormon Church

Inside The Growing Real Estate Asset Class That's A Favorite Of Bill Gates, The Mormon Church  

A series of unknowns looms over commercial real estate, with uncertainty sidelining many investors and motivating a small but growing number to cut their losses and bet on American farmland, an asset that remains in high demand even as prices soar.

Farmland is known for its historically strong returns, low volatility and ability to act as an inflation hedge. That gives the asset a relative stability that is a big draw for CRE investors, especially in an era when interest rate hikes are decimating profits, said Carter Malloy, founder and CEO of farmland investment platform AcreTrader.

“We are seeing a lot of interest from those more traditional real estate types of folks,” Malloy said. “In commercial real estate, you’ll have plenty of people who show up and say, ‘I doubled my money last year,’ and plenty who will say, ‘I lost it all.’ That’s a rarity…

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