The Ticker

MIT buys former Pfizer building

The Massachusetts Institute of Technology has purchased 620 Memorial Drive from Pfizer Inc. for $30.5 million, according to Registry of Deeds documents.

Pfizer vacated the lab and office building in early April. The pharmaceutical company, which bought the property for $46.5 million in 2003, is consolidating its area employees in a new Kendall Square research and development facility set to open June 6.

MIT will lease the Memorial Drive building to other entities for commercial lab purposes, according to a spokeswoman.

Casino boat in bankruptcy

The Nahant-based owner of the short-lived Aquasino Boston, a casino gambling boat that operated out of Lynn last year, has filed for Chapter 7 bankruptcy protection with estimated debt of $1.08 million.

Walsh's Excursions lists its leased 220-foot boat, valued at $5 million, as its sole asset in court documents, which also indicate the vessel and its equipment were surrendered to the company's lender in April.

TODAY

 Labor Department releases weekly jobless claims.

 National Association of Realtors releases existing home sales for April.

THE SHUFFLE

Pamela J. O'Leary, executive vice president and chief information officer at South Shore Bank, has been named to the South Shore Chamber of Commerce's board of directors. O'Leary will help oversee general strategy and direction for the chamber.
 

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