BBJ Real Estate Daily Thu, 23 May 2013 17:29:06 +0000 Bizjournals RSS http://www.bizjournals.com/rss/flex_feed/blog_post/boston/real_estate American City Business Journals, Inc. and its licensors. All rights. reserved. Faced with a condominium shortage in the Hub, brokers are resorting to creative methods to find homes for their clients. Two agents from Re/Max Select Realty in Boston have sent letters to owners at Longwood Towers at 20 Chapel St. in Brookline asking if they are willing to sell. “After reviewing the basic specifications of your condo, my client, a physician in the Longwood Medical Area, is very interested in purchasing a condo like yours,” according to the letter obtained by the Boston Business…]]> Thu, 23 May 2013 15:59:49 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/dear-condo-owner-please-sell.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/dear-condo-owner-please-sell.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo Nearly five years after construction ground to a halt at the former Filene’s site in Boston’s Downtown Crossing leaving a crater in the city’s shopping district, the new development team has set a groundbreaking for next month. Millennium Partners, the New York developer who bought Vornado Realty Trust’s (NYSE: VNO) stake in the failed development in April for $45 million, has set June 4 to break ground on a $615 million redevelopment of the site. The 1.3 million-square-foot plan will feature…]]> Wed, 22 May 2013 18:02:55 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/take-2-new-filenes-groundbreaking-set.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/take-2-new-filenes-groundbreaking-set.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo Mayor Thomas M. Menino got his first glimpse of the Boston Innovation Center today as construction nears completion on the 12,000-square-foot building that is being outfitted for start-ups, with 3,000 square feet reserved for a restaurant and cafe. The mayor toured the center, renamed “District Hall,” in a golf cart. But later stood with the help of crutches to make a short speech. He praised developer John Hynes for donating nearly $8 million to construct the facility that will be leased to…]]> Wed, 22 May 2013 17:05:20 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/seaport-districts-inno-center-open-june.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/seaport-districts-inno-center-open-june.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo Burlington Centre, the 620,000-square-foot office campus in Burlington. Mass., is on the market. The owner, Multi-Employer Property Trust, bought the property in 1991 for $21.3 million. MEPT is a pension-backed fund based in Washington D.C. with more than $7.16 billion in assets and one of the largest real estate equity funds in the U.S. Their portfolio consists of 190 properties in 25 major metropolitan markets nationwide. Brokers say the property at 10, 25, 30 and 35 Corporate Drive could fetch…]]> Wed, 22 May 2013 14:31:32 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/pension-fund-selling-burlington-centre.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/pension-fund-selling-burlington-centre.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo Massachusetts homeowners have received $610 million in cash relief during the first year since the National Mortgage Settlement, according to data provided by the five major banks. Bay State homeowners who were eligible for a refund totaled 8,823 and received an average of $69,180 per family. Overall, the nation’s largest mortgage servicers: Bank of America, JP Morgan Chase, Wells Fargo, Citigroup and GMAC/Ally, have distributed $50.6 billion in direct relief to over 620,000 homeowners, or $81,000…]]> Tue, 21 May 2013 17:30:07 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/ma-homeowners-get-610m-mortgage-relief.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/ma-homeowners-get-610m-mortgage-relief.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo Dramshop Hospitality, a Boston restaurant management group, has opened their newest seafood concept, Union Fish Seafood & Raw Bar at the Launch at Hingham Shipyard. The Boston-based restaurant management group owns and operates the original Union Fish on the Plymouth waterfront, the Regal Beagle in Brookline and Church Restaurant & Nightclub in Boston’s Fenway neighborhood. Union Fish Hingham features executive chef Brandon Babiarz. The menu includes pan roasted striped bass for $27, baked local…]]> Tue, 21 May 2013 16:33:11 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/union-fish-seafood-opens-in-hingham.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/union-fish-seafood-opens-in-hingham.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo Baylis Medical, a Montreal-based medical supply company, will open its first U.S. office in Burlington, Mass. on Tuesday. The Bay State launch is part of firm’s global expansion, the company said. Founded in 1986, the privately-held company supplies cardiology, endovascular and oncology products. Baylis will lease 1,200 square feet of space at 50 Mall Rd. where they will employ seven staffers. The company said they plan to expand in Greater Boston over the next few years, adding more space and…]]> Tue, 21 May 2013 13:48:10 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/baylis-medical-opens-in-burlington.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/baylis-medical-opens-in-burlington.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo Children’s Hospital has downsized its proposed $125 million office building near Kenmore Square in response to opposition, but one neighborhood activist still thinks it too high. In response to neighborhood pressure, Children’s has agreed to reduced its planned building 819 Beacon St. by 26 feet to eight stories and the number of parking spaces would shrink to 490 spaces from 525. “It’s not our preferential scheme because it’s not as efficient, but we agreed to the changes as an accommodation…]]> Mon, 20 May 2013 18:02:45 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/childrens-hospital-lowers-height-of-bldg.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/childrens-hospital-lowers-height-of-bldg.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo On the heels of its redevelopment of the historic Salem News block on Boston’s North Shore, a Somerville developer has proposed a $45 million project in the downtown that will feature apartments, stores, restaurants and perhaps a hotel and a supermarket. RCG LLC is seeking approval for multistory, mixed-use building for the block it owns along Washington and Dodge streets. Salem, Mass. officials say the project would expand the downtown and create a new gateway to the city from the south. “For…]]> Mon, 20 May 2013 17:27:50 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/45m-gateway-project-proposed-for-salem.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/45m-gateway-project-proposed-for-salem.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo The 10-year effort by parents and activists to add a new public school to Downtown Boston is finally paying off. As part of Mayor Thomas M. Menino’s $1.8 billion capital plan that includes 341 projects citywide, the administration has allocated $20.5 million to transform former presidential candidate Mitt Romney’s headquarters at 585 Commercial St. in the North End into a K-8 elementary school. In March, the city paid $12.7 million for the 40,000-square-foot waterfront building. Under the plan,…]]> Mon, 20 May 2013 16:27:33 +0000 http://www.bizjournals.com/boston/real_estate/2013/05/former-romney-hq-gets-21m-facelift.html?ana=RSS&s=article_search http://www.bizjournals.com/boston/real_estate/2013/05/former-romney-hq-gets-21m-facelift.html?ana=RSS&s=article_search Thomas Grillo Thomas Grillo