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October 14, 2021

Massachusetts' Once-Abandoned Mills Are Now Living The High Life

[In-Person] Gansett Ventures CEO Caleb Manchester breaks down the impact of work from home on multifamily development Nov. 4

Massachusetts’ textile and paper mills were crucial drivers of the Industrial Revolution in the 19th century. More than 150 years later, the state’s $2B cannabis industry is reinvigorating its many long-dormant brick and stone warehouses. 

Massachusetts' Once-Abandoned Mills Are Now Living The High Life

Cannabis growers, retailers and manufacturers are leasing and buying old mills and fixing them up to house their operations. Many of the state's localities are courting marijuana businesses to fill vacant mills to generate both real estate and cannabis sales taxes.“There are townships around the state that are saying, ‘Hey, we’ve got…

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Boston's Labs Are Full, Rents Spike Over $100/SF With No Sign Of Stopping

Boston's Labs Are Full, Rents Spike Over $100/SF With No Sign Of Stopping

Boston’s life sciences spaces are 99.9% occupied in the city's urban core, and the total lack of availability has driven rents to spike to previously unthinkable heights.Companies signed a combined 1.9M SF worth of deals last quarter, and vacancies dropped to 0.3% in Cambridge and 0.1% in Boston, according to CBRE’s

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Harrison Street Buys Watertown Biomanufacturing Facility For Record Price

Harrison Street Buys Watertown Biomanufacturing Facility For Record Price

Harrison Street Real Estate has paid a record price for a biomanufacturing asset, securing a 74K SF property geared toward mRNA vaccine production in Watertown in a sale-leaseback deal.The Chicago-based firm spent $92M for 650…

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Office Owner Sues Boston Zoning Board Over Rejected Lab Conversion Plan

Office Owner Sues Boston Zoning Board Over Rejected Lab Conversion Plan  

A Boston office owner trying to capitalize on the region's life sciences repositioning craze is suing the city's Zoning Board of Appeal, hoping a judge allows its unfinished conversion project to proceed.  The Council on International Educational Exchange, a study abroad nonprofit, is appealing the Zoning Board of Appeal’s September decision regarding its 45K…

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With Libor On Its Way Out, Commercial Real Estate Faces More Complex Lending Landscape

The deadline for lenders to phase out the Libor — the rate that determines the interest paid on the majority of commercial real estate loans — is less than three months away, and most lenders have coalesced around a new benchmark rate.

The Federal Reserve has endorsed a replacement in SOFR, which stands for Secured Overnight Financing Rate, but not required it, and lending experts say the presence of other rates in the market could potentially cause complications for borrowers seeking to find the best rate for their construction or acquisition loans. 

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