The lender to a fully entitled redevelopment site won a bankruptcy auction for the property for a second time — this time for $18M more than its initial winning bid, which was voided by a judge.
As severe winter weather tests the resilience of power grids already strained by data center development, the two largest U.S. grid operators are poised to tap backup generators at data centers to avoid blackouts.
In a strategic sell-down, BXP has fully exited the life sciences market on the West Coast, selling its last remaining regional asset in that class as part of a strategy to focus capital on debt and new office and multifamily development.
As the life sciences market continues to struggle, one of its largest landlords has other plans for what once was a Fenway lab project.
Alexandria Real Estate Equities announced a pivot away from plans to convert 401 Park Drive in Fenway into lab space.
“We have seen an increase in demand for office,” Alexandria CEO Peter Moglia said during the Q4 earnings call. “Given the availability we have elsewhere in the Fenway for lab, it made more sense to just go ahead and follow a business plan to lease it as office and not create any more lab space in the near future.”
The property,…
The shipping traffic and factories never stop in China’s port city of Ningbo, but the local housing market has crashed and nearby restaurants sit empty.
Prime Minister Keir Starmer of Britain met with President Xi Jinping of China as he sought to promote business ties with the world’s second-largest economy.
The electric vehicle maker’s shares are near record highs as Wall Street focuses on the company’s plans for robots and self-driving cars.
The company said on Wednesday that revenue in the most recent quarter was $81.3 billion, but its share price dropped more than 5 percent in after-hours trading.