What was your greatest professional accomplishment in 2019?
Completion of the Boston Sports Institute, 600 Worcester St. (Rte. 9), Wellesley. This 130,000 s/f, $23.3 million sports ecosystem consists of two NHL rinks (home to Wellesley High School Hockey and Dana Hall Hockey), the 2012 Olympic trials competitive pool, a therapy pool, a 15,000 s/f indoor turf field, a strength/conditioning area and suspended track. Within the sports ecosystem model, related commercial businesses occupy the same building including a physical therapy office, tutoring center and quick serve restaurant.
What was your most notable project, deal or transaction in 2019?
Scannell Properties’ 375,000 s/f renovation of a package distribution center located in the former Boston Scientific distribution complex in Quincy. The two buildings within this area constitute the largest commercial facility in Quincy.
What are your predictions for commercial real estate in 2020?
• High Bay warehouse and distribution assets in strong demand and at historically high rental rates. This demand generates a strong speculative build-to-suit market
• Land pricing for all asset classes also at historic highs and a potential impediment to continual speculative high-bay development.
• Commercial construction market will see slight turn-down from 2019 due to high barriers to entry.
• Experienced and skilled construction management talent in continued high demand with low supply.