Monthly Archives: June 2015

0 Downtown Crossing gets a Taste of France

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Baked goods have a new meaning at 1 Boston Place.  The 126 year old firm knows a thing or two about macaroons and croissants.

French Restaurant in downtown crossing Boston

Credit: Boston Business Journal

The Boston Business Journal notes, “Paul, a 126-year-old French bakery, is officially opening its Downtown Crossing location at 201 Washington St…The Downtown Crossing location will have a full-service restaurant — a first for the 126-year-old bakery — inside and out on the 50-seat terrace at One Boston Place.”

You can read more about Paul, the newest French restaurant to grace the hub, on the BBJ.

0 Boston Office Forecast: Meaningful Moves Ahead in Financial Sector

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Boston financial district office buildings

Credit: B&T

The Boston office market has big movers that need to make some real estate decisions.  The market continues to tighten and blocks of 100,000 square feet and above are harder to find.

From Banker and Tradesman:

Banks continue to move employees into smaller workspaces, with the industry average now 150 square feet per employee, down from 225 square feet in 2009…many banks are [also] choosing to relocate offices. Only 25 percent of the financial services office deals tracked by JLL in 2014 were lease renewals, while 46 percent were relocations.

That trend is likely to continue in Boston, with three major financial institutions responsible for 33 percent of the total active requirements in the market. But the result likely will be a net decrease in occupied space.

Putnam Investments and Wells Fargo are in the market for 280,000 and 220,000 square feet, respectively, while BNY Mellon is seeking to downsize to 350,000 square feet. And available build-to-suit parcels in the Seaport District provide competition to existing office towers in the Financial District.

0 Tech Sectors Driving Boston Office Market Growth

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Tech tenants are driving office demand nationwide with Boston ranking number 7 falling just behind Seattle.  To be classified as a tech talent market, there must be a labor pool of at least 50,000.

Desired Options:

·         Food Options
·         Shopping
·         Wellness Center
·         Outdoor Space
·         Recreation Room
·         Onsite Daycare
·         Bike Storage/Bike Rental
·         Zip Car

Cool office space in Boston

Credit: Forbes

To view some of Boston’s coolest office designs, check out Forbes’ online gallery.

0 Northern Avenue Bridge will be Restored for Motor Vehicle Traffic

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northern avg bridge leads to seaport office buildings in Boston

Credit: B&T

The Northern Avenue bridge built in 1908 is recommended to get another lease on life.  The bridge is one of the last remaining swing bridges in New England and is an engineering marvel to watch when it’s in motion.

The bridge was not only designed for pedestrians and cars, but also the Union Freight Railroad.

A study on the Seaport, referenced in Banker&Tradesman, cites the following:

The overall volume of commutes into the Seaport will increase 63 percent by 2035…The study committee’s consensus: restoring the three-lane bridge, with one lane dedicated for motor vehicles. Pedestrian and bicycle access also would be preserved.

“There was some concern in the pedestrian and bicycling community about opening it up to traffic,” said Rick Dimino, CEO of Boston-based planning organization A Better City Inc. “But at the end of the day, there was pretty substantial support that the bridge needs to be opened up to traffic again.”