0 Creative Office Lofts in Boston

Posted on March 3, 2014 by Wil Catlin

Recently, I have experienced an incredible demand for what I call “cool creative loft office space in Boston” from tenants in the market. I represent a lot of landlords who offer this type of space and on more than one occasion have had several competing offers for space. This trend in the market just re-enforces what I have heard in recent news that a company’s work culture and collaborative creative atmosphere is the top priority to the Boston area’s newest and freshest young innovators.

Please see the two links below to view some of the many opportunities I have in the market:

http://www.bradvisors.com/building/listing_sheet/451/109-129kingston.pdf

http://www.bradvisors.com/building/listing_sheet/454/36bromfield_lo_res.pdf

0 14 Boston Startups Land Free Office Space

Posted on March 3, 2014 by Wil Catlin

Credit: Boston.com

What 14 startups are on the move in Boston that just scored space at International Place?

Boston.com reported that “PayPal’s Boston office is filling its Start Tank with a new set of early-stage ventures. Created in 2012, the Tank offers entrepreneurs free office space in downtown Boston, along with mentorship from PayPal employees and seminars. Companies are welcome to stay for six months to a year; this is the third crop of businesses that the Start Tank has housed.”

To read the list and links to the 14 Boston startups that were selected, click over to Boston.com

0 Definition of Class A Office Space

Posted on March 3, 2014 by Wil Catlin

What defines Class A office space?

According to CoStar, Class A office space is defined as follow:

In general, a class A building is an extremely desirable investment-grade property with the highest quality construction and workmanship, materials and systems, significant architectural features, the highest quality/expensive finish and trim, abundant amenities, first rate maintenance and management; usually occupied by prestigious tenants with above average rental rates and in an excellent location with exceptional accessibility. They are most eagerly sought by international and national investors willing to pay a premium for quality and are often designed by architects whose names are immediately recognizable. A building meeting this criteria is often considered to be a landmark, either historical, architectural or both. It may have been built within the last 5-10 years, but if it is older, it has been renovated to maintain its status and provide it many amenities. Buildings of this stature can be one-of-a-kind with unique shape and floor plans, notable architectural design, excellent and possibly outstanding location and a definite market presence.

Some notable Class A buildings in Boston:
John Hancock Tower: 200 Clarendon Street
Bank of America: 100 Federal Street
Prudential Center: 800 Boylston Street
Federal Reserve Plaza: 600 Atlantic Avenue
Exchange Place: 53 State Street
One Federal Street: 1 Federal Street
One Financial Center: 1 Financial Center
100 Summer Street: 100 Summer Street
International Place: 1 International Place

0 Usable vs. Rentable Square Feet

Posted on March 3, 2014 by Wil Catlin

So what does it all mean? Here’s a quick explanation of the difference between usable square feet and rentable square feet, along with calculation for it – courtesy of 42floors.com:

Usable square feet
The exact square footage of the commercial space you’re leasing. This refers only to those facilities that your company will exclusively occupy, including office space, storage space, and private bathrooms.

Rentable square feet
Rentable square feet is calculated by taking the actual usable square footage and adding a percentage of the common areas.

The Calculation The formula to determine the USF and the RSF are: RSF = USF X (1 + Add-On %)
Add-On % = (rentable SF / Usable SF – 1)

0 South Station to stock new Bitcoin ATM

Posted on March 3, 2014 by Wil Catlin

Credit: coindesk.com

Looking to convert your cash? South Station is home to a new Bitcoin ATM.

According to the BBJ:

“the controversial and sometimes confusing digital currency Bitcoin, launched an ATM dispensing machine that has been set up by a Boston company called Liberty Teller.”

To read more changes headed to South Station, jump over to the Boston Business Journal’s full article.

0 Government Center T Stop to Close for Two Years

Posted on February 18, 2014 by Wil Catlin

Credit: Boston Globe

Planning your new commute to Boston City Hall? The Green Lines Government Center T Stop is scheduled to close on March 22nd for two years.

An announcement from the MBTA on Wednesday, reported in the Boston Magazine, notes “that Government Center Station at City Hall Plaza would be closing down for two years beginning on March 22, so that the transit agency can begin repairs and upgrades to the stop, and improve connections between the Blue and Green Lines.”

The article includes the following quote from the MBTA:

“If your trip usually included Government Center Station, please allow an additional ten to fifteen minutes for your travel,” according to the T. “The bus will make stops outside State Street Station, Government Center Station, Bowdoin Station, and then return to Haymarket. No fares will be collected on the shuttle bus.”

You can read the full Boston Magazine article, here.

0 Kendall Square Lures Startups from Boston Suburbs

Posted on February 18, 2014 by Wil Catlin

Credit: OneKendallSquare

More companies are moving into the city and vacating their suburban campus model. Why is the occurring? Talent, employers want to make it easy for the existing workforce and also for future new hires. Most younger workers don’t wish to have cars and would prefer to walk, bike or T to work. Cambridge, among other downtown hubs, are reaping the benefits.

The Boston Globe notes the recent lure of Kendall Square and the Seaport in Boston:

The suburban exodus means demand for commercial space around Kendall Square and the Seaport is greater than it’s ever been. The danger is that all this demand prices out the small companies that are driving the innovation economy’s urban movement in the first place.

The full article is available on the Boston Globe’s website.

0 400 Atlantic Ave. in the Financial District Sells for $50M

Posted on February 18, 2014 by Wil Catlin

Credit: Boston Business Journal

Trades in the fully-stabilized office sector continue to bring strong numbers and show no sign of slowing down in Boston’s Financial District.

From the BBJ:

Colonnade Properties has sold 400 Atlantic Ave., the 100,000-square-foot office building between Boston’s Financial and Seaport Districts, to Credit Suisse on behalf of a private client for $50 million.

The full article is available on the Boston Business Journal’s website: 400 Atlantic Ave, Sold for $50M.

0 Boston Companies Migrating from Suburbs to Downtown

Posted on February 18, 2014 by Wil Catlin

Five Hundred Boylston St. in Boston's Back Bay

Credit: Boston Business Journal

Companies continue to look to relocate downtown from outside the city, when they wish to attract younger technology talent. The profile of the new recruit is car-less and prefers walking or public transportation as their primary means of transportation.

A recent example of this migration is VMTurbo. The cloud technology company is moving from Burlington to 500 Boylston St. in the Back Bay.
The BBJ spoke with an HR executive at VMTurbo, and posted the following quote, indicative of the city-bound migration:

“Most of the employees that we hire are not people who own cars for the most part — they use the T,” [human resources executive Veronica] Curran said.

The full article on VMTurbo’s move to Boston’s Back Bay is available on the Boston Business Journal.

0 How Startups Pick their Hometowns

Posted on February 18, 2014 by Wil Catlin

Credit: BBJ

Frequently when I meet with young companies their initial request is, what will it cost? My reply is usually is, “ If it was free and the perfect configuration, but in Western Massachusetts, would you take it?” The reply, “No.”

Companies that are in growth mode care about access to qualified potential employees. In the Boston market we see many companies prefer to be within the city core as opposed to be outside the city for that simple reason. The younger workforce doesn’t own or doesn’t want their commute to involve an automobile.

According to a research report on the Boston Business Journal, here’s are the three aspects that entrepreneurs say actually did sell them on their hometowns:

1. Population & talent

2. Livability

3. Strong area supply chains

The full BBJ article is available, here.