A Boston developer on Wednesday filed a plan to replace the hulking Government Center Garage with a new complex of commercial and residential buildings, including a 600-foot office tower that would be one of the tallest skyscrapers in the city. The Stop & Shop Supermarket Co. LLC has scheduled a June 21 grand opening for a new store on Alewife Brook Parkway in Somerville. The location was previously occupied by a Johnnie’s Foodmaster store. In February, the Quincy-based Stop & Shop announced that it had acquired the Johnnie’s lease at 105 Alewife Brook Park in Somerville. At that time, Stop & Shop noted that it had gotten its start in Somerville, and the chain added that it has a nearly 100-year history in the city. The new Stop & Shop will employ about 100 people and occupy about 24,000 square feet of space --- many of the chain’s stores are 60,000 square feet or more. Stop & Shop operates more than 400 stores in the Northeast, including about 130 in Massachusetts. Cambridge Health Alliance, a health care system that operates three hospitals, is relocating some of its administrative services to Commerce Place in Malden, including some services now located at Station Landing in Medford, said a commercial real estate broker involved in the lease negotiations. The broker is Richards Barry Joyce & Partners LLC. The Boston firm represented Commerce Place’s landlord, Preotle, Lane & Associates Ltd. Under the new lease, Cambridge Health Alliance will occupy the building’s fourth and fifth floors, or nearly 57,000 square feet of space. Commerce Place, which contains 152,000 square feet of office space, is now 92 percent leased. Cambridge Health Alliance expects to move administrative operations to their new home in about a year. Cresa Bostonrepresented Cambridge Health Alliance in the lease negotiations. Cabela’s Inc., a retailer specializing in hunting, fishing, and outdoor gear, said it plans to open an 88,000-square-foot store in Berlin in the spring of 2015. The store will be the Nebraska chain’s first Massachusetts location, said the company, which also announced plans in a press release to open stores in Cheektowaga, N.Y., and Lubbock, Texas. The Massachusetts store will be located in in the Highland Commons Shopping Center, whose other stores include BJ’s Wholesale Club, Lowe’s Home Improvement, and Market Basket, Cabela’s said. The new Cabela’s store will employ about 200 full-time, part-time, and seasonal employees. “Our many loyal customers across Massachusetts have supported Cabela’s for many years through our catalogs, website, and other retail locations,” Cabela’s CEO Tommy Millner said. “Now those outdoorsmen and women will have a store to call their own.” Massachusetts foreclosure activity in April was much lower than the level recorded in the same month a year ago, the Warren Group said Wednesday. The drop is partly because of an improving residential real estate market and partly because of a new state law that requires banks to take additional steps before foreclosing on a property, the Warren Group said. Foreclosure petitions are the first step in the Massachusetts foreclosure process. The number of petitions filed in April fell nearly 79 percent to 370, but that was a higher than the 284 petitions filed in March, said the Warren Group, a Boston firm that tracks real estate activity. Foreclosure deeds, which represent completed foreclosures, declined more than 68 percent to 234 in April from the same month a year ago. Mobiquity Inc., a Wellesley company that develops apps for corporate customers, said Wednesday that it has raised $12 million in a Series B financing round led by New Spring Growth and joined by existing investors Longworth Venture Partners and Sigma Partners. The company said it has raised $17 million to date. The new capital will support Mobiquity’s geographic expansion as well as continued investment in the company’s product portfolio, Mobiquity said. A Globe story from last October noted that Mobiquity has built apps for Panera Bread, the New York Post, and Weight Watchers; it had about 150 employees at the time and was looking to hire at least 20 more. Buffeted by setbacks over the past two months, Aveo Pharmaceuticals Inc. said Tuesday it will lay off 140 employees and halt efforts to win approval of its kidney cancer drug. |
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