Editors’ Weekly News Roundup September 2 – September 5
Often keeping a lower profile compared to other gateway U.S. markets, the Boston metro area was the setting of the most-read story on Connect CRE for the past week and also figured in another entry in the top five. The ranking also highlighted the resurgence of a property sector that, like retail, was largely written off during the pandemic but has staged a strong comeback.
As reported in Construction Launches on Northeastern U.’s 23-Story Boston Dorm, developer ACC has begun early-stage site work at 840 Columbus Ave, with a 2028 completion date targeted. The project will provide 800 student beds along with academic space and community space.
The student housing component of the new tower will replace 500 beds in Boston’s Fenway neighborhood. This will allow Northeastern University to return the Fenway housing to the open market.
With Harvard, MIT and Boston University all academic neighbors to Northeastern, student housing has long been a growth sector in the region. A more recent trend has led to data centers in Central Texas, and the past week’s second most-read story chronicled the efforts of a development team to launch another such project.
Austin-Area Town to Decide Fate of Proposed $850M Data Center reported that Prominent Property Group, Savannah Developers and Power Infrastructure Partners hope to build in Jarrell, a town of fewer than 2,000 people. If approved, the Mesones Data Center campus would join 20 existing facilities that have been delivered in Greater Austin over the past few years.
Returning to Boston, development also figured in the week’s third most-read story. Here, though, the developer was the seller in a multifamily transaction.
The Houston-based Hanover Company—whose Joe Gambill will be among the experts taking the stage at Connect Apartments 2025 on Sept. 11 in Los Angeles—completed Hanover Crossing Residences in the coincidentally named Hanover, MA two years ago. We reported in Developer Trades Hanover Apartments for Reported $156M that the buyer was AEW Capital Management.
Among the attractions for AEW was the market-rate apartment complex’s adjacency to Hanover Crossing, a 720,000-square-foot redevelopment of the former Hanover Mall. CBRE arranged the sale.
Our fourth most-read story also involved an acquisition. This time, though, the deal was initiated by a public-sector entity, although a private investor was also involved.
State of Texas Buys Two San Antonio Hotels informed readers that the Texas General Land Office, investment firm Rockbridge and the Alamo Trust acquired the nearby Menger and Crockett Hotels. The Alamo Trust, which oversees Alamo operations under the state land office, said bringing the hotels into the makeover of Alamo Plaza ensures that they’ll be integrated into the broader Alamo experience.
Completing the top five was a national story reporting the latest findings of the NAIOP Research Foundation. Amid shifting tariff policies and persistently high interest rates, just 27 million square feet of industrial space was absorbed in the first half of 2025.
Our story based on the NAIOP Research Foundation report, Economic Uncertainty Takes Toll on Industrial Space Demand, indicated that absorption is expected to begin rebounding in 2026 and 2027. However, the report stated, “Higher tariffs and slowing employment growth will likely result in slower demand growth than that experienced from 2020 to 2022 or in the six years that preceded the pandemic.”