Boston Real Estate for Sale

Two from the Boston Business Journal.

First, the under-development Russia Wharf has signed up a big tenant.

Wellington Management Co. LLP has inked a deal to occupy 450,000 square feet of space at Russia Wharf, capping one of Boston’s largest lease deals in recent months.

Boston Properties Inc. (NYSE: BXP), which is building a 552,000-square-foot office tower at the site, quietly highlighted the lease deal in its fiscal 2008 first-quarter earnings announced on Wednesday.

Boston Properties said Wellington signed a 15-year lease agreement on April 22. The lease is scheduled to begin in spring 2011.

Meanwhile, the Massachusetts economy is en fuego!

In the face of widespread economic fears, the Massachusetts economy expanded by 3.2 percent annualized rate in the first quarter, according to the University of Massachusetts Donahue Institute.

“Total nonagricultural employment has continued to grow, bucking the national trend of declining employment in the last three months.”

The institute, using leading indicators, estimates that the Massachusetts economy will grow by 2.5 percent in the next six months.

Source: Wellington signs Russia Wharf lease – Boston Business Journal

Source: State GDP grows, says institute – Boston Business Journal

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