Turn to page B1 for Banker & Tradesman’s monthly coverage of all things commercial real estate.
THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Norfolk Spotlight: Sharon
IN PERSON
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While military special operations might bring to mind Navy SEALs and anti-terrorism missions, David Murphy’s military service gave him access to a quieter side of the special operations community. This experience has helped him develop a key skill for his work as a wealth manager: listening to clients.
WEEK OF MONDAY, NOVEMBER 30, 2020
COMMERCIAL REAL ESTATE BY THE NUMBERS
COMMERCIAL INTERESTS
THE 2020 TURKEY AWARDS:
13.5 percent The office vacancy is now 13.5 percent in Greater Boston. See Elizabeth Berthelette’s column on page B4. Source: Newmark Knight Frank
YOU’RE BUILDING WHAT?
$3,875 A property manager almost landed in a class-action lawsuit over $3,875. See Christopher Vaccaro’s column on page B3. Source: Massachusetts Appeals Court
$150 million The cost of a new drug manufacturing plant under construction in Massachusetts. See Jay Fitzgerald’s story on page B1. Source: Colliers International
2020 Delivers Bumper Crop of Nominations
215 million square feet Greater Boston has 215 million square feet of industrial real estate. See Jay Fitzgerald’s story on page B1. Source: CBRE
BY SCOTT VAN VOORHIS BANKER & TRADESMAN COLUMNIST
925 square feet The size of the largest units allowable under Boston’s compact living pilot. See Steve Adams’ story on page 7. Source: Boston Housing Innovation Lab
8 percent
147 The number of units Mount Vernon Co. wants to build on a half-acre parcel. See Steve Adams’ story on page 7. Source: BPDA
0.8 percent The lab vacancy rate in Greater Boston. See Bob Coughlin’s column on page B4. Source: CBRE
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
With millions of square feet of office towers under construction like Hines’ South Station Tower, it’s unclear if anyone is going to make money being an office landlord in Boston any time soon.
Image courtesy of Pelli Clarke Pelli
Area industrial rents have increased 8 percent year-over-year. See Jay Fitzgerald’s story on page B1. Source: Newmark Knight Frank
T
he Turkey Awards made their debut a decade or so ago, though how many years I can’t truly say, though it’s certainly been several. But the founding concept remains the same: The “winners,” truly an elite group ofEmail: sorts, are refined, using the most rigorous of scientific methods, from the dross bberkowitz@ ofthewarrenthe biggest losers in town. And while 2020 has been downright digroup.com sastrous in so many ways, it has truly excelled at delivering a bumper crop of big, fast juicy gobblers to skewer, from doomed projects to idiotic proposals. The pandemic has not only turned the world upside down, it also exposed a whole lot of foolishness as well in the real estate market and beyond. Continued on Page 3
THE MISSING MIDDLE
W AT C H I N G , W A I T I N G
Boston Pilot Program Awaits Verdict from Market
Forbearance, PPP Income Pushes Problems Into 2021
Is Compact Living Here to Stay? By Steve Adams | Banker & Tradesman Staff
Commercial Real Estate PAGE 7
Lenders Wait for Pandemic’s Effects on Balance Sheets By Diane McLaughlin | Banker & Tradesman Staff
Banking & Lending PAGE 9