0 Creative Office Lofts in Boston

109–129 Kingston Street in BostonRecently, I have experienced an incredible demand for what I call “cool creative loft office space in Boston” from tenants in the market. I represent a lot of landlords who offer this type of space and on more than one occasion have had several competing offers for space. This trend in the market just re-enforces what I have heard in recent news that a company’s work culture and collaborative creative atmosphere is the top priority to the Boston area’s newest and freshest young innovators.

Please see the two links below to view some of the many opportunities I have in the market:

http://www.bradvisors.com/building/listing_sheet/451/109-129kingston.pdf

http://www.bradvisors.com/building/listing_sheet/454/36bromfield_lo_res.pdf

0 14 Boston Startups Land Free Office Space

Inside a Boston startup

Credit: Boston.com

What 14 startups are on the move in Boston that just scored space at International Place?

Boston.com reported that “PayPal’s Boston office is filling its Start Tank with a new set of early-stage ventures. Created in 2012, the Tank offers entrepreneurs free office space in downtown Boston, along with mentorship from PayPal employees and seminars. Companies are welcome to stay for six months to a year; this is the third crop of businesses that the Start Tank has housed.”

To read the list and links to the 14 Boston startups that were selected, click over to Boston.com

0 Definition of Class A Office Space

What defines Class A office space?

According to CoStar, Class A office space is defined as follow:

In general, a class A building is an extremely desirable investment-grade property with the highest quality construction and workmanship, materials and systems, significant architectural features, the highest quality/expensive finish and trim, abundant amenities, first rate maintenance and management; usually occupied by prestigious tenants with above average rental rates and in an excellent location with exceptional accessibility. They are most eagerly sought by international and national investors willing to pay a premium for quality and are often designed by architects whose names are immediately recognizable. A building meeting this criteria is often considered to be a landmark, either historical, architectural or both. It may have been built within the last 5-10 years, but if it is older, it has been renovated to maintain its status and provide it many amenities. Buildings of this stature can be one-of-a-kind with unique shape and floor plans, notable architectural design, excellent and possibly outstanding location and a definite market presence.

Some notable Class A buildings in Boston:
John Hancock Tower: 200 Clarendon Street
Bank of America: 100 Federal Street
Prudential Center: 800 Boylston Street
Federal Reserve Plaza: 600 Atlantic Avenue
Exchange Place: 53 State Street
One Federal Street: 1 Federal Street
One Financial Center: 1 Financial Center
100 Summer Street: 100 Summer Street
International Place: 1 International Place

0 Usable vs. Rentable Square Feet

42 Floors logoSo what does it all mean? Here’s a quick explanation of the difference between usable square feet and rentable square feet, along with calculation for it – courtesy of 42floors.com:

Usable square feet
The exact square footage of the commercial space you’re leasing. This refers only to those facilities that your company will exclusively occupy, including office space, storage space, and private bathrooms.

Rentable square feet
Rentable square feet is calculated by taking the actual usable square footage and adding a percentage of the common areas.

The Calculation
The formula to determine the USF and the RSF are:  RSF = USF X (1 + Add-On %)
Add-On % = (rentable SF / Usable SF – 1)

 

0 South Station to stock new Bitcoin ATM

Bitcoin ATM image, going to Boston

Credit: coindesk.com

Looking to convert your cash?  South Station is home to a new Bitcoin ATM.

According to the BBJ:

“the controversial and sometimes confusing digital currency Bitcoin, launched an ATM dispensing machine that has been set up by a Boston company called Liberty Teller.”

To read more changes headed to South Station, jump over to the Boston Business Journal’s full article.