0 Workplace Design Turns to Sustainability and Wellness

contemporary office design

Credit: cpexecutive.com

Office design has evolved to be less invasive to the environment while providing a healthier experience for its occupants.

When asked about current workplace design trends, Dan Perruzzi of Boston-based Margulies Perruzzi Architects shared his views with Commercial Property Executive:

Companies are wrestling with the best balance between quiet and/or private space and collaboration space. Employees need private space, but they also need easy access to their colleagues for beneficial interactions. Individual, focused work has to be supported while simultaneously supporting group work.

Everyone is trying to do more with less. Companies are actively reviewing space standards to see where they compare with the competition. Metrics of area per seat and seats per assigned staff are critical areas of focus today. Given that in many areas basic sustainability has been incorporated into building codes, there is a greater focus on wellness and health in workplace design.

0 Innovation and Design Building in Boston Seaport

Seaport Innovation and Design Building

Credit: idbldg,com

Technology and real estate are not words that traditionally occupy the same sentence, but Jamestown has managed to make this happen at the Innovation and Design building in the Boston Seaport.

According to Promodo.com, “One of the powerful things about using technology to connect and inform tenants is that managers are able to understand their occupants on a much higher level. ‘By getting a look into what tenants are engaging with on the app, we are able to help landlords and property managers better serve their tenants and increase retention,’ Garbarino said. ‘We’re able to tell them how many tenants are actually aware of the property amenities, which they are engaging with, how often they engage with different content on the app and more.'”

More information on the Boston Innovation and Design building is available on its website.

0 Back Bay Office Market Shows Continued Resurgence

Back bay commercial real estate at night

Credit: Flickr/Emmanuel Huybrechts

The office market in Back Bay is vibrant and alive with activity. It’s 18M square feet not only boasts the 1st (200 Clarendon Street) and 2nd (Prudential) tallest buildings in New England, but also will possess the tallest residential building (1 Dalton) as well.

Vacancy is down and cost of occupancy has increased. Newbury Street office rents can range from upper $40’s t0 low $70’s per square foot.

From Bisnow:

“I think Back Bay has the amenities, the public transportation and all the attractive features a company is looking for,” said Avison Young principal Ron Perry, who is speaking at Bisnow’s Boston Office of the Future event later this month. “At night, it’s alive with restaurants. Traditional firms like it, and they’ve done a good job lately in making that appeal to technology companies.”

“Boston has an amazing talent base with great universities, a strong diversity of industries and an innovative culture,” Wayfair Head of Real Estate and Workplace Services Reed Gilbert said. “Wayfair’s headquarters, centrally located in Boston’s Back Bay, makes it easy for employees to bike, walk and take public transportation to work.”

Available Listings
Back Bay Office Space for lease

0 Boston Takes 3rd on List of Largest Office Pipelines in the Northeast

145 Broadway Street in Boston

Credit: cpexecutive

The Boston office market continues to show strong development, with 4.5 million square feet of construction underway. Rent growth and job growth have also put Boston on the leader board.

Here’s what CPexecutive had to say on the Boston office pipeline:

A strong market dominated by its well-performing technology and life science sectors, Boston recorded a robust job and population growth—larger than Los Angeles or San Francisco. The market conditions bolstered construction activity, resulting in more than 4.5 million square feet of office space now underway. Completions stayed under the 3 million-square-foot mark in 2015 and 2016 and dropped significantly in 2017, when only 1.6 million square feet of office space were delivered.

The largest office development scheduled to come online is the Akamai Global Headquarters in Cambridge, Mass. The 19-story property will bring 453,768 square feet of office space to the market and will be located at 145 Broadway, in the heart of the city’s Kendall Square neighborhood. Boston Properties signed a 15-year lease with Akamai, the building’s sole tenant.

The full list of the ‘Largest Office Pipelines in the Northeast’ is available, here.

0 Connection Between Red and Blue T Lines (Again) Considered

Charles MGH T-Stop Boston

Credit: Curbed

Amazon could be the trigger that finally connects Red to Blue for the T.

According to Curbed Boston, “the connection would be pretty simple on paper: The Blue Line would be extended from its Bowdoin terminus to the Red Line’s Charles/MGH stop.” Curbed further notes that a connection between the two T-lines “has been a what-if since at least the Big Dig, which was supposed to produce the link as a byproduct (probably via a 1,500-foot, $750 million tunnel along Cambridge Street). That never happened.”

More information is available on Curbed, Boston.

0 Boston’s TAMI Office Market Requires Quick Turn-around

Office space at WeWork in Boston Seaport on Atlantic Ave.

Credit: Bisnow

Two years to three months. This is that the lead time TAMI [technology, advertising, marketing and information] tenants are working with when they are in-market, looking for office space. Given this, Landlords needs to offer spec suites for immediate occupancy to accommodate the market opportunity.

Here’s a remark from Colliers International Executive Vice President Kristin Blount in Bismpw, on the velocity of current real-estate transactions:

“Tenants used to be in the market way far in advance of a lease expiration or their renewal notice time period,” [Colliers International Executive Vice President Kristin Blount] said. “Because their business is changing more rapidly than before and the newer kind of TAMI [technology, advertising, marketing and information] tenants make up a lot of growth, the speed to market and need to move quickly is something that is really important to them.”

Additional information is available on Bisnow’s website, here.

Related Property Listings
Available Office Space in Boston
Office Space for lease in Cambridge