Banker & Tradesman: Jan. 6, 2020

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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Berkshire Spotlight: Stockbridge

IN PERSON

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Before joining MassINC as their primary transit-oriented development researcher following the completion of a PhD in law and public policy, Dr. Tracy Corley spent the better part of two decades as an architect and business leader in Seattle, in addition to founding two consulting firms.

WEEK OF MONDAY, JANUARY 6, 2020

RESIDENTIAL REAL ESTATE BY THE NUMBERS

CYBER CITY

$235,000 You can buy a home in Peru for $235,000. Peru, Massachusetts, that is. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

$2,975.70 The price per square foot of the priciest home in this week’s Gossip Report. See page 9. Source: The Warren Group

The median single-family home price in Lenox has risen by two-thirds this year. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

3.3 acres The size of the largest property in this week’s Gossip Report. See page 9. Source: The Warren Group

$2.97 million

MALDEN TAKES A BYTE OF GAMING CULTURE A visitor to the Swedish questing studio Boda Borg attempts to solve a puzzle in one of its escape rooms. Boda Borg led the way as Malden Center added a cluster of gaming enterprises ranging from escape rooms to PC game studios. The business attracts 160,000 visitors a year and is expanding to offer 25 different challenges.

The price of the most expensive existing single-family home sold recently in Berkshire County. See By the Numbers on page 6. Source: The Warren Group

New Studios Give Downtown a Spark

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uring the 1980s heyday of video arcades, the town of Marshfield banned coin-operated games and threatened to fine businesses that exposed local youth to the corrupting influences of Dig Dug, Pac-Man and Donkey Kong. Today, local officials and real estate developers are more likely to view the video gaming industry as a catalyst for downtown revitalization and retail resurgence. In Malden, Mayor Gary Christenson promotes the “gaming district” in his city’s changing

The number of votes a key housing production bill will need on Beacon Hill. See Scott Van Voorhis’ column on page 3. Source: The Massachusetts General Court

46.25 percent The median Berkshire County singlefamily sale price is over 50 percent less than the state median. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

BY STEVE ADAMS BANKER & TRADESMAN STAFF

D

downtown and its expanding array of venues, from an escape room to PC gaming parlor and soon-arriving “barcade.” “Malden is in a virtuous cycle right now where you’ve got a great range of restaurants, some fun amenities attractive to people in their 30s and 40s, and some office and tech companies coming in,” said Chad Ellis, founder of Boda Borg Boston.

‘An Unknown Swedish Questing Studio’

Malden’s gaming cluster began to emerge in 2015. Ellis, a former Planned Parenthood executive and co-founder of a game publisher called Your Move Games, was in touch with a fellow Harvard Business School graduate about U.S. locations for Boda Borg, his Swedish, team-based

questing studio chain. Ellis decided the opportunity was too good to pass up and scouted locations in several communities near Boston. The Pleasant Street location in Malden moved forward amid support from city officials, following the departure of previous tenant and downtown institution, the Sparks department store. Boda Borg teams – comprising three or more members – to solve mental and physical challenges. The center attracts 160,000 visitors annually, and recently launched a 4,000-square-foot expansion to accommodate a total of 25 separate questing studios. About 20 percent percent of its business comes from company team-building events, Ellis said.

3rd Central Arlington is the third-most competitive housing market in the country. See Week on the Web on page 2. Source: Redfin

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

Continued on Page 7

Photo courtesy of Boda Borg

66.67 percent

COMMERCIAL INTERESTS

TECH TRENDS

From the Luxury Market to Housing Choice, a Lot Could Change in 2020

Real-Time Payments, Small Business Banking Offer Opportunities

Will This Be the Year of Big Shift? By Scott Van Voorhis | Banker & Tradesman Columnist

Commercial Real Estate PAGE 3

Tech Will Power Three Growth Areas for Banks in 2020 By Diane McLaughlin | Banker & Tradesman Staff

Banking & Lending PAGE 9


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