| Blackstone Real Estate Group managing director David Hirsh expects to sign 1.5M SF of new leases and renewals this year in the company's 12M SF of offices here. At 125-150 Cambridge Park Dr in the Alewife section of Cambridge, David says new deals will bring occupancy to about 90% by mid ’13, up from around 30% when Blackstone purchased the complex last year. No wonder capital markets consider Boston to be a “highly desirable” city. Lenders include the Big Three: banks, CMBS, and life companies.Spreads continue to tighten, especially for institutional grade properties. Boston is growing at a moderate pace with no new office supply, which makes it “very attractive." Hear more from David at Bisnow’s 2nd Annual Capital Markets Summit, Oct. 29, at the Long Wharf Marriott. Register here! | |
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