Real Estate Deals

TheRifleman

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^^^
I don't think BackBay will ever die but I believe that we are seeing a shift in Commercial Real Estate where it's more desirable to be downtown were the action is than the Hancock or Pru.
 

JumboBuc

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Re: Downtown Crossing

^ Shouldn't these "investor purchases building" posts go in Real Estate Deals? They are not development projects.
 

goldenretrievers

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Re: Beacon Hill Developments

as someone had stated previously, isn't there another thread or section of this forum for real estate deals?
 

whighlander

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Re: Beacon Hill Developments

Isn't the parcel apartments/condos?
FortpointGuy -- apparently there is a boutique hotel in the building -- Related Beal now has control over the corner of Charles St.

they might be planning something akin to what they are going to be doing with the old Fidelity property on Congress St*1. -- convert part of the parking garage, add a couple of glass floors and some more interaction with pedestrians such as a sidewalk cafe do something with the parking lot at the corner


*1
Congress Square: an inspired vertical urban campus

Congress Square reinvents five iconic interconnected buildings with a bold new vision that sparks intellect and creativity. It infuses the grandeur of the past with a dynamic, contemporary aesthetic, upscale amenities and inviting public spaces. Encompassing a full city block, Congress Square creates a unique urban campus that expresses the innovative energy of today's business.
 

whighlander

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Re: Beacon Hill Developments

as someone had stated previously, isn't there another thread or section of this forum for real estate deals?
Goldenretrievers -- I don't think this is just flipping properties -- when Related Beal acquired the Fidelity property nothing was announced immediately -- yet soon along came the proposal for Congress Square which is being nearly universally praised :eek:
 

statler

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Re: Beacon Hill Developments

I'm not sure what to do with this thread. It's either a redevelopment of the parcel in which case the thread title needs to be changed to reflect that or it's just a real estate transaction and it just needs to moved as such.

Anyone have any other information?
 

datadyne007

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Re: Beacon Hill Developments

I'm not sure what to do with this thread. It's either a redevelopment of the parcel in which case the thread title needs to be changed to reflect that or it's just a real estate transaction and it just needs to moved as such.

Anyone have any other information?
It's a real estate transaction like the 10,000 other posts BLDUP has spammed in various threads. Getting tired of them. Real estate deals should be confined to the real estate thread. BLDUP should receive a formal warning from the admins and face a ban if they continue this spam. I don't believe they are contributing anything to this forum in the majority of their posts meant to drive traffic to their site. I will say that every so often there are some good project/site tours, but those posts are outnumbered by the real estate deals.

(In before "tell me how you really feel")

Edit: From the BLDUP link, here's the proof it's just a property deal:
Banker and Tradesman reports that Related Beal will continue to operate 170 Charles Street as a hotel. Related Beal acquired the neighboring parking garage at 144 Charles Street in July 2015 for $40 million and continues to operate the garage and ground-floor retail. In a statement, Related Beal Executive Vice President Stephen Faber said that the company “[continues] to operate the garage and [is] currently evaluating future possibilities for [the] site to best realize its potential in the neighborhood.” Related Beal now owns a total of approximately one acre of Charles Street land acquired for a total of $65 million.
 

whighlander

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Re: Beacon Hill Developments

I'm not sure what to do with this thread. It's either a redevelopment of the parcel in which case the thread title needs to be changed to reflect that or it's just a real estate transaction and it just needs to moved as such.

Anyone have any other information?
Statler -- there is a story in Banker and Tradesman -- which can be glimpsed for a second or so -- that quotes a Stephen Faber Exec VP of Related Beal as saying essentially that they are evaluating how best to use the site
 

Blackdog

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Re: Beacon Hill Developments

It's a real estate transaction like the 10,000 other posts BLDUP has spammed in various threads. Getting tired of them. Real estate deals should be confined to the real estate thread. BLDUP should receive a formal warning from the admins and face a ban if they continue this spam. I don't believe they are contributing anything to this forum in the majority of their posts meant to drive traffic to their site. I will say that every so often there are some good project/site tours, but those posts are outnumbered by the real estate deals.

(In before "tell me how you really feel")

Edit: From the BLDUP link, here's the proof it's just a property deal:
I actually haven't minded the post from BLDUP, it always posts information about properties around Boston. I don't think it should be banned but instead needs to be warned and told where the right place to post certain posts. I seriously don't get the hate for someone who is posting relavent content to the forums.
 
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FortPointGuy

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^+1

I typically appreciate the BLDUP posts though the latest one for the Seaport church struck me as a bit redundant...
 

statler

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I'd say there is a slim to zero chance of redevelopment there in the near to mid-future.
 

JumboBuc

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Globe: Newly built Seaport office building sells for $455 million

Tim Logan said:
American Realty Advisors and Norges Bank closed on a deal to buy 121 Seaport Blvd., a just-finished building that’s home to tech firm PTC and drug maker Alexion, from developer Skanska USA. Documents filed in Suffolk County show the building — which is just over 400,000 square feet — sold for $455 million, or $1,136 per square foot. That’s below the $1,208 per square foot price Tishman Speyer fetched for its slightly smaller office building on nearby Pier 4 in August, but ranks among the richest office space sales ever in Boston.

Skanska, which also built neighboring 101 Seaport, launched construction on the $281 million, 17-story tower in 2015 without tenants lined up, a rare and risky move in Boston’s typically conservative office development scene. But it inked huge leases with PTC and Alexion within a few weeks of each other last year, and the building opened 100 percent leased.
Another Skanska spec build windfall.
 

kmp1284

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I meant to post this news earlier in the week. New Boston Ventures through 132 Arlington LLC has acquired what appears to be the parking lot behind and along side 122 Arlington, the Boston Center for Adult Education. I'm not sure what their plans are, whether to develop only the parking lot or sit on it and eventually acquire the BCAE building but with the BCAE property as part of the equation this could be something substantial(relatively speaking) and another major step in improving that stretch of Arlington.
 

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