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July 18, 2023

New Data Shows Boston's Office Market Keeps Falling, But Experts See 'Potential Green Shoots'

Boston Office Market Insights: Vacancy Rates, Subleasing Trends, And Cutting-Edge Workplace Design & Amenities Sept. 26

Boston's office market is still worsening, with new data from the second quarter showing rising vacancy and negative absorption. 

Those trends aren't expected to reverse in the coming months, as experts told Bisnow the market still has further to fall before it turns around, but they see some positive signs in the macroeconomic picture and the return-to-office efforts that signal a rebound could be just beyond the horizon. 

New Data Shows Boston's Office Market Keeps Falling, But Experts See 'Potential Green Shoots'

“This is not going to be a sprint to clear these hurdles. This is going to take time,” said Jeff Myers, research director at Colliers. “The biggest hurdle is probably time. If you look at vacancies now, you’re not going…

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This Week's Boston Deal Sheet

WS Development and Fenway Sports Group have gotten the green light from the Boston Planning & Development Agency for their $1.6B Fenway Corners project.

This Week's Boston Deal Sheet

On Thursday, the agency approved the developer's initial 1.6M SF plan and an additional 500K SF set aside to be voted on after the Fenway-Kenmore Transportation Action Plan is completed, the Boston Globe reported.The eight-building project is planned to include 266 residential units, including 53 income-restricted units, 730K SF of lab space,…

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EXCLUSIVE: Barnes & Noble’s CEO On New Store Strategy And Rewriting Retail By The Book

Amazon should have wiped Barnes & Noble out. And at one point, it looked like America’s biggest book chain might indeed be going the way of megastore rival Borders — into the great archive library in the sky.

Instead, Englishman James Daunt is talking to Bisnow about bookselling, expansion and soaring readership. The bookseller has turned bestseller, opening stores in new and old locations, and as a dish served cold, some of those sites have been at vacated Amazon Books stores too.

With around 600 Barnes & Noble bookstores across the U.S., plus an online platform, Nook e-books and audio books, SparkNotes and publisher Union Square & Co., Daunt as CEO presides over a literary emporium that also encompasses 293 Waterstones and Blackwell’s stores in the UK.

The group has been owned by hedge fund Elliott Advisors since 2019, and Daunt has been entrusted with reshaping and expanding the company, including in New York, where Barnes & Noble's huge and iconic Fifth Avenue flagship closed in 2014. He gave Bisnow an insight into where the company is heading and how he is turning it around. 

EXCLUSIVE: Barnes & Noble’s CEO On New Store Strategy And Rewriting Retail By The Book

Chapter 1: Data Be Damned“We are looking at between 13 and 14 more new stores in 2023 across a large range of sizes and types,” Daunt said. “We've got one that's 30K SF opening in New Jersey, we've opened up some 25K SF-type stores, but we've also got some really quite…

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Use Them Or 'Be Left Behind': Here Are The 5 Most Practical AI Tools For CRE Right Now

The commercial real estate industry might have a reputation for being slow to adapt to new technology, but it doesn’t live under a rock.

Artificial intelligence is already making processes easier for industry members and clients, and with a wave of new apps and plug-ins emerging, CRE is likely only starting its tech journey.

Use Them Or 'Be Left Behind': Here Are The 5 Most Practical AI Tools For CRE Right Now

The popularity of artificial intelligence and generative AI technology, which creates new images or designs based on prompts, is increasingly being noticed, if not yet widely embraced, by CRE.JLL last week found that it is among the top three technologies expected to have the biggest impact on real estate,…

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