0 Facebook Interested in Cambridge Office Space

Posted on March 7, 2013 by Wil Catlin

Is Facebook returning to its roots? The Kendall Square office market is vacancy rates at a record low with Class A rents in the $50’s per square foot.

An exclusive report on the Boston Business Journal quotes a source with knowledge of Facebook’s growing interest in Cambridge office space, “they want to have a larger footprint here…they want to be near MIT to recruit staff and they want to be next to similar firms.”

The article also notes that Facebook currently has four employees in a temporary office space at 711 Atlantic Ave. in Boston’s Financial District.

For additional details on Facebook’s search for Cambridge office space, click through to the BBJ exclusive.

0 Back Bay Building Purchased by Fisher College for $12M

Posted on March 6, 2013 by Wil Catlin

Back Bay building on Arlington St in Boston

Photo Credit: Boston Business Journal

Another office building trade has occurred in Back Bay. This sale falls outside of what we have seen in the recent past by investors, this in an owner occupant as well as an expanding college.

The Boston Business Journal reports that Fisher College has purchased 10-11 Arlington St. for $11.7 million. The article contends the building “will be able to provide offices for faculty and staff, as well as additional services and resources to its students.”

For more information on the specifics of the purchase of 10-11 Arlington Street, follow this link to the Boston Business Journal.

0 Is One Lincoln Street Stagnation a Sign of Larger Trend?

Posted on March 5, 2013 by Wil Catlin

State Street Financial Center at 1 lincoln

Photo Credit: Boston Business Journal

The office market is in the midst of an upswing as it pertains to rents, but from the value side, buyers are cautious. Have we peaked or is there more to come?

The Boston Business Journal article reported on the relative stagnation, noting that “twenty months after One Lincoln Street — also known as the State Street Financial Center — was put up for sale, the skyscraper remains on the market for $1.15 billion.”

Follow the link to read more about One Lincoln Street.

0 Boston Innovation District Adds 200 Companies in Three Years

Posted on March 5, 2013 by Wil Catlin

Photo Credit: innovationdistrict.org

Rents are above $40.00 PSF, vacancy is below 4 percent for Class B space, but the good news is the Innovation District is humming. Companies are willing to pay a premium to be located among their technology peers; as it pertains to recruiting, applicants would much prefer to be there than outside the city.

A Banker & Tradesman report, quoting the Boston Redevelopment Authority, states “in the past three years, more than 200 new companies and 4,000 new jobs have moved to Boston’s Innovation District.”

The article also notes that technology companies are leading the charge, accounting for 30 percent of the area’s new job growth.

For more insight, jump over to Banker & Tradesman’s coverage of the growth of Boston’s Innovation District.