0 Boston Office Rents Among Country’s Most Expensive

Posted on March 11, 2015 by Wil Catlin

Boston Rents continue its upward push with four office markets leading that charge: Back Bay, East Cambridge, Financial District and Seaport. The Class A market within Back Bay is clearly leading the way, while some value still exists within the Class B market. A real driver in the increased rents is the cost of tenant improvement dollars going from shell space to fix up space. Not uncommon to see those numbers north of $75 per square foot.

Credit: Boston Business Journal

According to the BBJ, “the Back Bay’s average rents hovered over $60 last year [while]…Midtown New York commanded about $130 per square foot, and both San Francisco and Washington rents topped $75 per square foot.”

You can read the full article on the Boston Business Journal.

0 Roxbury Retains Suffolk Construction

Posted on March 11, 2015 by Wil Catlin

Suffolk Construction decides to stay put in Roxbury. In a conversation with the Boston Globe, “Suffolk CEO John Fish said his company spent around $600,000 ahead of the planned South Boston move but ultimately reversed course for a variety of operating as well as cultural reasons. ‘We studied the hell out of it,’ Fish told the Globe. ‘At the end of the day, it’s not us. We are a very proud organization, and I think Roxbury is a home we’re very proud of.'”

Suffolk Construction building in Roxbury

Credit: The Boston Globe

You can read the full article on the Boston Globe’s website.

0 Office Tower Planned at 121 Seaport

Posted on March 10, 2015 by Wil Catlin

300 A Street office space in Boston Seaport

One of the next major projects to come out of the ground in the Seaport looks to be from developer Skanska. As office rents continue upward, what tenant will make the migration from E. Cambridge to the Seaport?

From Banker & Tradesman:

“As it finalizes cost estimates for 121 Seaport in Boston, developer Skanska USA is positioning the 425,000-square-foot tower as a rival to Cambridge’s Kendall Square among tech companies looking for build-to-suit sites….Shawn Hurley, executive vice president of Skanska USA Development, said 121 Seaport has a shot at attracting the neighborhood’s next big lab tenant. Vertex Pharmaceuticals was the first major life science company to commit to the South Boston waterfront, moving from Cambridge to a 1.1-million-square-foot headquarters on the Fan Pier in January 2014.”

Related Property Listings
Available office space in Boston Seaport

0 Boston Office Market Ranks Third In Global Rent Growth

Posted on March 10, 2015 by Wil Catlin

view of Boston's office buildings over the water

Credit: Banker&Tradesman

Boston is 3rd in office rent growth for 2014 behind Singapore and San Francisco. The factors that drive Boston are the innovative economy and the extensive university presence. The YE Market Report (link below) goes through the Downtown Class B office market fundamentals.

“According to Banker&Tradesman, Boston ranked first globally with a 34.6-percent increase in capital value growth. Foreign investors drove up prices of the Boston region’s commercial real estate, with investors such as Toronto-based Oxford Properties Group and Norges Bank Investment Management buying trophy office buildings in Boston and Cambridge. The index is designed to identify which cities are changing the fastest by combining real estate data with socioeconomic factors.”

You can download a pdf of the report here: http://www.bostonrealestates.com/reports/year-end-2014/Downtown/YE-MarketReport-Downtown-lo.pdf

0 Fort Point Drinks and Dining Reference: Top Spots to Hit After Work

Posted on March 10, 2015 by Wil Catlin

Best eats in the Seaport/Innovation/Fort Point area of Boston for startups. What does where you dine say about where you work? Bostinno.Streetwise.co has put together a handy reference to reflect the “favorite spots to hit after a long at the office” in the Fort Point neighborhood.

Credit: Bostinno.Streetwise.co

The article includes the following venues, and is available on the Bostinno website:

Tavern Road, 343 Congress Street
Bastille Kitchen, 49 Melcher Street
Blue Dragon, 324 A Street
Barlow’s, 241 A Street
Lucky’s Lounge, 355 Congress Street
Row 34, 383 Congress St

0 Winthrop Square Development Looking for Boost

Posted on March 10, 2015 by Wil Catlin

Credit: BBJ

Do you have a creative idea for a Boston office/residential tower? If yes, the Boston Redevelopment Authority, BRA, would like to hear from you by April 13th. What exactly is the BRA looking for? Creative ideas. Sounds simple enough so give it some thought and see what sticks.

The address is 115 Winthrop Square/115 Federal Street

Please visit: http://www.bostonredevelopmentauthority.org/work-with-the-bra/rfps-rfqs-bids/rfp-listing-page?id=41

0 B.Good Executives Among Boston’s Shared Office Space Aficionados

Posted on March 10, 2015 by Wil Catlin

shared office space on Newbury Street in Boston

Credit: Boston Globe

What types of business use shared workspaces? Well, the cofounder of b.good is an avid user of Oficio on Newbury Street.

“Jon Olinto, cofounder of the restaurant chain b.good and [his] b.good cofounder Anthony Ackil, his childhood best friend, hold job interviews and meetings in conference rooms at Oficio, which runs two shared office spaces on Newbury Street. About 350 entrepreneurs and companies rent space at Oficio, paying anywhere from $69 a month to use the mailing address to $2,300 a month for a dedicated office for a team of eight workers, with 24/7 access. Oficio provides lunch about once a week, hosts networking events, and schedules guest speakers, such as accountants, to talk about the basics of running a business,” according to a Boston Globe article.

You can read the full Globe article, here. Alternatively, you can use our resources for more information on shared workspaces in Boston.