State Street has opened is new facility in the Seaport at Channel Center. For some this marks a trend towards more collaborative downtown workspaces.
“Mayor Walsh and State Street CEO Jay Hooley were among those celebrating the 222-year-old financial services giant’s jump from the Financial District to the emerging Seaport. Kristin says State Street’s presence validates the Seaport as a desirable corporate address. And the building’s open layout—which emphasizes collaborative space over individual cubicles—is a “game changer.” (It’s also easier to see who’s gossiping about you.) The company expects that at least 3,500 employees will move in by fall; it started moving in February. The build-to-suit was developed by Commonwealth Ventures and AREA Property Partners.”
With the recent vote by the Needham Board of Selectmen to increase water and sewer rates in the town for first time in nearly a decade, it will be interesting to see the direct impact this change has on Needham office buildings and the cost for office space throughout the area.
According to a report on Needham.WickedLocal.com, “the specific plan adopted for the next fiscal year introduces a $4 quarterly fee for irrigation meters and a $9 quarterly service charge for sewer use, while also increasing prices per cubic feet for all types of water use.”
The full Wicked Local article can be found, here.
Is smaller better or is the new mayor now open Chiofaro’s Harbor Garage Proposal? No matter what side of this you are on our waterfront continues to evolve and buildings created decades ago are being razed to make way for new developments that are in line with today’s uses and environmental standards.
Photos from The Boston Globe:
Watertown is changing and so is the landscape for retailers and office space within this active market. Typically known as a town with office space that is offered at a more cost-efficient rate when compared to office space within Needham and Newton, today Watertown is undergoing revitalization and reinvention in order to draw a new generation of enthusiastic shoppers and diners as well as tenants looking for creative, brick-and-beam office space.
From Wicked Local:
“Instead of focusing solely on retail, a modernized Arsenal Project will be reconfigured to become a vibrant destination of national, regional and local retailers, with fresh, new restaurant, retail and entertainment choices. Recent renovations that signal the changes to come include exterior building and landscaping upgrades, new common area seating and even, during the darkness of the winter months, a remote-controlled light show playfully executed on the brick sides of the buildings. Currently underway are interior and exterior energy-efficient lighting upgrades and a redesign of signage.”
For small tenants the cost of reliable internet service is a must. Companies that fall into a small to mid-sized footprint in most cases are unwilling to use a fiber connection, but would prefer a business class product from Comcast. No all buildings are equal; meaning some have Comcast Business Class where the building next store might not. Why is that, if one has it shouldn’t they all? Well no, Comcast will install their service into a building if they can get enough subscribers, if not, they will charge to install it. Most landlords are unwilling to burden the installation costs and as a result the building stays dark from Comcast.
Well, now you can quickly check if Comcast services the building your are interested in move your office to at:
This major intersection was last updated 49 years ago on February 18, 1965. The requirements of our roadways are vastly different now and we need to take a proactive look toward the next 50 years as Boston and Cambridge continue to grow in both workforce and population.
Banker & Tradesman reports that “recently, the Massachusetts Department of Transportation convened a task force of about 50 members to advise the state on the redesign for the “Allston Interchange,” the spaghetti bowl of ramps and tollbooths in the middle of the rail yard adjacent to the Charles River and a neighborhood of houses and businesses.”
Additional information on the Allston Interchange is provided in the B&T article, here.
Credit: Boston Globe
In an uncharacteristic move by the Town of Needham, two permitting changes were made this June. Needham residents have expressed an urge to enhance Downtown Needham with the hope that the reform will pave the way for more significant growth. Among the changes that have taken place, businesses will now have an easier time altering the façade of their office, flex and industrial buildings. Will this have an impact on the look and feel of Needham/Newton office buildings and their asset class?
Newton.WickedLocal notes, “this will save small business owners the hassle of getting on a Planning Board agenda and posting a public notice, plus the optional expense of hiring a lawyer.”
You can read the Wicked Local article, here.
Credit Wicked Local
A 500-acre parcel of land that borders Route 95 is undergoing a complete re-development as Mayor Warren and elected officials in Needham are trying to develop the parcel into an attractive place for high-tech companies to set up and begin their business. TripAdvisor, which currently employs 500 people in Newton on Needham Street, announced in December of 2012 that it couldn’t find suitable office space to grow its business in Newton.
Wicked Local reports, “last month Newton Mayor Setti Warren went as far as Israel as part of a mission led by Gov. Deval Patrick to promote the N2 corridor. The mayor returned with the news that he had interested several Israeli companies in visiting the corridor to consider expanding or relocating there. Officials say that’s good news for Newton and Needham because of the added jobs and tax revenue new businesses could bring in.”
An increased amount of parking spaces throughout Newton will exist in the next handful of years strengthening the parking ratios for office space in this market. Typical parking ratios offered in the dynamic Newton market boast three spaces per 1,000 sf lease. With the addition of the Austin Street development, more businesses will be able to accommodate its employees and their cars. Maybe this will persuade commercial landlords in Needham to bolster the parking ratios they offer for their properties?
“The proposed Austin Street developer will hold an info session at 8 p.m. on Tuesday, June 24 at Newton North High School Cafeteria, not City Hall as previously planned. Residents will be able to meet and share ideas with Austin Street Partners, the recently selected development team.”
Where do good ideas come from? Innovators. Northeastern has a great idea; bring the white board to the street, yes on a truck that hits key destinations within our city.
From the Boston Business Journal:
“Northeastern University is launching a new master’s degree in innovation and is celebrating with a “whiteboard innovation challenge,” meant to identify innovators who might be good candidates for the degree. A total of four questions will be posed in two-week segments for the duration of the eight week contest. Participants will be asked to submit their innovative idea via a whiteboard drawing, taking a photo and posting it for consideration through the D’Amore-McKim Facebook application or on the mobile truck white board at one of the various locations.”