0 State Street Tower Offered to Public

Posted on May 12, 2015 by Wil Catlin

Credit: Boston Globe

Office buildings are trading at records levels and the influx of capital into Boston shows no sign of letting up. 1 Lincoln Street which is home to State Street is offering a new twist, you can own a piece.

From the Boston Globe:

[The] venture led by Fortis Property Group of New York, which bought the 1.1-million-square-foot tower for just under $900 million in 2006, would sell a 48.88 percent interest in the building through a real estate investment trust called ETRE REIT, according to documents that were filed with the Securities and Exchange Commission.

In the documents, ETRE said the State Street tower, built in 2003 and fully occupied by State Street Corp., is currently valued at $1.1 billion.

The move to hold a public stock offering for the building is the idea of ETRE Financial LLC, founded three years ago with the purpose of “facilitating the public listing of individual real estate assets to improve access, liquidity, and transparency in commercial real estate,” according to its website.

0 Biotech Real Estate Soaring in Kendall Square

Posted on May 12, 2015 by Wil Catlin

The global hot spot for Bio Pharma space is Kendall Square in East Cambridge with 130 life sciences companies in 2.5 square miles.

Credit: CNBC

From CNBC:

“Of the top 20 pharmas I think probably somewhere between 50 and 75 percent have a presence in and around Cambridge,” said Joel Marcus, CEO of Alexandria Real Estate, the landlord with the biggest market share in the area.

“As tight as the lab market is in Kendall Square, the office market is even more tight, in part because Microsoft and Google are expanding their operations,” MassBio’s Abair said. At the same time though, he noted the proximity of tech and life sciences companies enable cross-industry collaboration.

Follow the link to view a related video on CNBC.

0 Boston Startup moves from Cambridge to Newbury Street to Expand Workforce

Posted on May 12, 2015 by Wil Catlin

Bridj is on the move and parked on Newbury Street. 283/285 Newbury Street offered an experience that aligned well with vision of Matt George, Bridj founder and CEO. Off street parking, roof deck and 3 floors of creative space.

Credit: BBJ

Bridj has elected to share this experience through Pivotdesk, have a look and see if it works for your growing team.

From the Boston Business Journal:

The company moved out of a co-working space at the Cambridge Innovation Center into a 5,400-square-foot space at 283 Newbury St. in Boston earlier this year.

“We were outgrowing the CIC and while co-working spaces are great and they have lots of benefits and amenities, it’s really hard to start building your own culture (there),” said Ryan Kelly, Bridj’s marketing manager.

0 Boston On demand Office Space

Posted on May 7, 2015 by Wil Catlin

I was first introduced to Breather from Will Preap who is the head of Breather’s business development for Boston and got the concept. The notion that I could have a private meeting/interview in a space outside of the public eye was captivating. Preap has strong roots to Boston and expects to add 30 location throughout the CBD. So, questions I get from landlords are, is it safe? Yes, Breather controls access to the space via a smart phone app. Prior to getting access, Breather understands the clients social footprint using algorithms that access social media sites to better understand the profile. Once you have selected the Breather spot you get to the door and Breather provides a one-time access code to the app. You enter and you meeting commences. The space is fitted out with smart phone chargers wrapped in a sophisticated yet relaxed atmosphere complete with WIFI.

The meeting ends and you depart, yes, Breather knows. Breather then sends their team back into the space to ensure it is ready to go for the next client.

Pictured above is Justin Harlow of BRA’s Downtown team @ 715 Boylston Street.

0 Milk Street Lands Japan’s Ogawa Coffee

Posted on May 7, 2015 by Wil Catlin

Credit: Eater

The coffee situation is changing on Milk Street and with be the first U.S. location for Ogawa Coffee. 10 Milk Street owned by Synergy Investments landed the Oqawa Coffee headquartered in Kyoto, Japan. Boston was their first location based in part to the similarities such as rich history, college students and international visitors.

From Eater:

According to a Boston University professor and author of the book Coffee Life in Japan, Japan is one of the world’s top three consumers of coffee, along with the United States and Germany, and it brews its coffee the strongest, Viser wrote. In Japan, brewed coffee is the main focus; the October 2014 Globe article surmised that the forthcoming Ogawa will offer more espresso options to cater to the Boston-area market.

0 Multiple Projects from Boston Properties Progressing

Posted on May 7, 2015 by Wil Catlin

Credit: Boston Herald

Boston Properties is bullish on Boston with projects underway or proposed from Back Bay, Financial District and North Station.

· 888 Boylston has seen the crane arrive and has announced is major tenant Natixis Global Asset Management
· 100 Federal Street is looking to add more retail on the Congress Street side of the project

From the Boston Herald:

“In 2015, we estimate we could move approximately $1 billion in pre-development projects into our active development pipeline,” CEO Owen Thomas said. “Before launching any of these projects, we need to complete the entitlement and planning process and, in most cases, some level of pre-leasing.”

0 On-demand Meeting Rooms in Boston

Posted on May 7, 2015 by Wil Catlin

So, it is best described as office space between Starbucks and any number of the temporary groups that provide contractual services for office space. Breather is space for only when you need it. Imagine that you are interviewing a person that will be replacing a person on your team. The last thing you would want to do is have that meeting internally, you could go to Starbucks, but you might get seen by a coworker. Now come breather, have a meeting in a private space within close proximately to your office and schedule the space for 30 minutes. Best of all, its done from your phone. Boston Realty Advisors has been assisting Breather find new spots in the city.

Credit: bizjournals.com

From the Boston Business Journal:

Bostonians will now have access to five private spaces in the Back Bay and Cambridge area with a tap of their phones, with [Breather] locations that include: 715 Boylston St., two spaces at 36 Gloucester Street, and two spaces at 1158 Mass. Ave. in Harvard Square.