Connect with us

News

St. Mary’s antique mall suffered heavy damage in Sunday’s tornado

Published

on

St. Mary’s antique mall suffered heavy damage in Sunday’s tornado

ST. MARY, Mo. – The town of St. Mary, Missouri is about 80 miles south of St. Louis and it was hit hard by Sunday night’s tornado.

7th Street in St. Mary is the epicenter of the tornado damage there. Debris is scattered everywhere along the street. St. Mary’s antique mall suffered extensive damage.

Several homes along 7th street are also severely damaged or even destroyed.

The storm hit St. Mary at approximately 8 p.m. Sunday.

“There was not a whole lot of sounds and then everything just went still. I do remember everything going still,” St. Mary resident Nick Grogg said. “I was on the phone with dad. He said something bad is about to happen. That’s when I went downstairs. I didn’t think it was going to be anything like this.”

There were no serious injuries in the area due to the tornado.

google news

News

Report: Amid COVID, demand for lab space surges, leading to higher rents

Published

on

Report: Amid COVID, demand for lab space surges, leading to higher rents

Demand for Boston-area lab space is surging, but the supply is scant, leading to soaring rents, according to a new report.

Demand is far outpacing available space in the Boston area, with a record number of large biotech and drug companies seeking 100,000 square feet amid a global race for new drug development, according to the report from CBRE, a Dallas-based commercial real estate services and investment firm.

“The Boston lab market is expanding at an unprecedented pace,” said Jonathan Varholak, the firm’s vice chairman. “With over $9.3 billion of venture capital funding having flowed into Boston area life science firms in the first three quarters of this year, demand from startups is at an all-time high. We’re seeing record-setting rents and historically low vacancies as a result.”

The vacancy rate for existing lab and research and development space is just 1.1% in the Boston-Cambridge market, as average asking rents soar, jumping 7.5% to $94.62 per square foot in September compared to March 2021.

In Boston and Cambridge, where vacancy is 0.1% and 0.3% respectively, the average asking rents are now $100.00 per square foot in Boston and $112.79 in Cambridge, according to CBRE. The leasing of lab space has been pushed into the suburbs, including Watertown and Route 128 West.

“As we see in housing, space is scarce,” said Joe Boncore, CEO of the industry group MassBio. “But as we add more space to the economy, we expect the price of lab space to level off.”

Ten million square feet of lab space is under construction in the Boston area, which includes 9.3 million square feet of “spec” construction, where developers broke ground with no tenants signed at the time, the report said. Six million square feet is expected to deliver by the end of next year, and 3.2 million square feet is being converted from other uses such as office or warehouse space.

In Boston, life sciences employment has grown faster than the U.S average over the past 15 years, although Boston has only about a sixth of the life sciences employment as Middlesex County, including Cambridge, Waltham, Lexington, among others. Yet Boston has grown more rapidly over the past year: 7.5% vs. 5.2%, according to CBRE.

“Life sciences labs quickly have become a highly sought-after property type for both tenants and investors,” said Ian Anderson, CBRE’s Americas Head of Office Research. “This intense demand for lab space is the natural result of a global push for new medicines begetting strong funding and hiring in the life sciences sector.”

Global demand for vaccines for COVID-19 and viruses like it has led to initial public offerings for life sciences companies in the on pace for a record year, raising roughly $13 billion, according to CBRE.

google news
Continue Reading

News

MBTA to cut back bus routes Dec. 19, citing workforce shortages

Published

on

MBTA to cut back bus routes Dec. 19, citing workforce shortages

Amid a national workforce shortage cutting across industries, the MBTA has not been spared.

The agency announced that, starting Dec. 19, bus service and Mattapan line service will be scaled back to accommodate employee attrition, which is outpacing new hires.

“Like other transit systems across the country, the MBTA is experiencing significant challenges in attracting the workforce needed to meet demands for service,” MBTA General Manager Steve Poftak said. “The MBTA is budgeted for a full level of service, and ready to add back services when we have hired and trained new bus and train operators.”

Poftak added in his comments that teams at the MBTA are working to streamline the hiring process and encouraged those interested in applying to head to mbta.com/apply.

The MBTA’s winter schedule will focus on maintaining service for routes with “durable ridership,” on routes with crowded buses and on supporting those returning to in-person work and school. The routes will also be adapted to new, COVID-induced travel patterns.

Buses will reduce in frequency by about one in every 20 scheduled trips, with many of the changes reducing frequency on weekdays, especially in the morning.

Several other bus changes are going into effect later this month. Route 111, with service to and from Woodlawn, will operate a simplified service pattern this winter, and Routes 62 and 76, which run between Alewife and the Bedford VA Hospital, will resume rush-hour weekday service.

The MBTA will hold a public information session Dec. 8 at 6 p.m. to discuss the changes. People can learn more about the affected routes at mbta.com/servicechanges.

google news
Continue Reading

News

First snowfall of the season for many in Massachusetts could impact evening commute

Published

on

First snowfall of the season for many in Massachusetts could impact evening commute

It’s time to dig out your winter boots and snow brush for your car.

Wednesday will bring the first snowfall of the season for many across the Bay State, as meteorologists predict a widespread 1 to 2 inches of snow, with lower amounts along the coast.

While the light snowfall totals look to be minor, much of the snow will fall during the evening commute, so officials are urging people to plan for extra travel time and slow down on the roads.

“Not only will you be safer on snow if you curb your speed, you’ll have greater ability to stop if you need to,” said Mary Maguire of AAA Northeast. “Allow for more distance between your vehicle and the car in front of you. This will provide you with more stopping distance if you need to brake.”

The best chance for accumulation looks to be between 4 p.m. and midnight, and the best shot for higher snow amounts would be toward the Worcester Hills.

The Massachusetts Department of Transportation advised people to clean snow off their vehicle, and to make sure their windshield wipers work and they have windshield washer fluid.

“So ask any Cop who has been on the job for few years which day normally has the most motor vehicle crashes? Answer: First snowfall of the year,” the Hanson Police Department tweeted. “Slow down, be safe, and keep your insurance rates down.”

google news
Continue Reading

Trending