0 Billion-Dollar Sale includes two Buildings on Fan Pier

Posted on February 12, 2014 by Wil Catlin

Credit: Boston Business Journal

Developers continue to permit, build and lease as their buildings come online and stabilize, they sell. We will continue to see trades within the office sector as our economy continues to grow and outperform the national average.

The most recent indication of this trend is the sale of two buildings on Fan Pier. According to the BBJ, Senior Housing Properties Trust plans to acquire the two office buildings in Boston’s Seaport District. A closing is expected in the next few months. The nearly 1.7-million-square-foot deal includes 1.1 million square feet of office space while the remaining portion is the underground garage.”

Additional details are available on the Boston Business Journal.

0 MA Job Growth Strongest Since 2000

Posted on February 11, 2014 by Wil Catlin

Credit: The Boston Globe

Our local economy continues to grow and outperform the national average. This is mirrored by the increased price of office space per square foot that has surpassed pre-recession levels.

The Boston Globe reported on the strong year in 2013:

“Despite the impact of automatic federal budget cuts known as sequestration, the state gained more that 55,000 jobs in 2013, compared to about 49,000 in 2012 and 43,000 in 2011, the state Executive Office of Labor and Workforce Development reported Thursday. It was the best year of job growth since 2000, when the tech boom — shortly before it went bust — drove the creation of about 95,000 jobs.”

The full article is available on the Globe’s online outlet here: The Boston Globe

0 Demand Grows for Office Tower at Seaport’s Pier 4

Posted on February 8, 2014 by Wil Catlin

Credit: Boston Herald

Will the Seaport see a new tower in the near future? Office demand is strong and New England Development is looking to accommodate.

According to a recent Boston Herald article, “strong demand for new Seaport District office space has prompted New England Development to settle on an office tower for the second phase of its 1 million-square-foot, mixed-use Pier 4 project.”

The full article is available here: Boston Herald real estate

0 Boston Startups: Rent Desks from WeWork

Posted on February 6, 2014 by Wil Catlin

Office buildings on Melcher st in Boston

Credit: fortpointchannelboston

Mobility seems to be the cornerstone for the general population. Be it a smart phone or a tablet, we are on the phone and don’t wish to be tethered. The same is true for office space; CEO’s today are looking for flexibility with a collaborative environment, not a long-term lease. Desk and office rental is the solution. Pay for exactly what you need, when you need it.

The wait is over. Boston businesses now have a new, dedicated outlet for desk rentals and office space: WeWork. According to the Boston Herald, “what separates WeWork from other “co-working spaces” is the sense of community they build…there is a sports lounge in the basement of WeWork Seaport in Fort Point, complete with arcade games, a pool table and kegs. Members also get access to WeWork companies across the country for possible partnerships.”

Additional information on WeWork is available in the Boston Herald article.

0 TD Towers Seeks to Elevate Boston Skyline

Posted on February 6, 2014 by Wil Catlin

Is the TD Towers too tall for the neighborhood? Well, yes and no, Boston is growing and new projects need height to make them work. The low-rise buildings that were constructed during the early part of the last century are a thing of the past.

Credit: Boston Magazine

Boston Magazine recently reported on a controversy surrounding the proposed size of TD Towers, noting “the project opens the door to many more like it, which would turn the West End into another skyscraper orchard. It’s not hard to see where they’re coming from. When you compare the project with towers elsewhere in Boston, it fits right in. But as you can see above, it will dwarf its neighbors in the West End.”

The full Boston Magazine article can be found, here.

0 Fenway Center Banking on Tax Break

Posted on January 30, 2014 by Wil Catlin

Credit: The Boston Globe

Will the new mayor offer concessions where Menino wouldn’t? Fenway Center is an aggressive project that bridges the Turnpike between Fenway and Kenmore. Over the years, projects like this have fallen short due to the cost of construction and the inability to secure appropriate financing.

According to The Boston Globe, the developer of Fenway Center is asking for a significant tax break for the new project:

In a last-ditch effort to save one of the city’s largest construction projects, developer John Rosenthal is asking Boston Mayor Martin J. Walsh’s administration for a $7.8 million tax break to help build a massive complex of buildings near Fenway Park…“John’s a good man and I know he’s been working on this project for a long time,” Walsh said in a recent interview with The Boston Globe. “We’re going to look at [his proposal] and do what’s best for the city.”

The full article is available to online subscribers of The Boston Globe.

0 Five Noteworthy Retailers Headed to Newbury Street

Posted on January 30, 2014 by Wil Catlin

Newbury Collection of retail stores on Newbury Street in Boston

Credit: TheNewburyCollection

Newbury Street has some new attractions, from food to 3-D printing.

A list of five new, noteworthy inhabitants of Boston’s Newbury Street was compiled by the Boston Globe yesterday:

“The Newbury Collection, a stretch of boutiques, spas, and restaurants that run along nearly the full length of Boston’s fashionable Newbury Street, has signed leases with five new tenants, including Drybar, a now-open blow-dry bar, and a burger joint called Shake Shake that is expected to open in September, said Jamestown, the real estate firm that owns the portfolio.”

The full article is available to Boston Globe subscribers.

0 Dudley Square Startup Space to Open this Summer

Posted on January 30, 2014 by Wil Catlin

Office building in Dudley Square in Boston

Credit: Boston.com

Did your company just get funded? Do you dread going downtown? Well, Roxbury will be home for startup space.

Boston.com recently reported on the emerging start-up incubator:

Rosenzweig’s non-profit, Smarter in the City, hopes to have an incubator up and running by June, with space for a half-dozen companies. But he’s still in the process of rounding up prospective corporate sponsors to support the idea, and applying for grants from The Boston Foundation and others.

The full Boston.com article is available, here

0 High Speed Rail Proposed from Springfield to Boston

Posted on January 30, 2014 by Wil Catlin

Credit: MIT.edu

As our city grows, the cost of real estate continues northward. This problem has tremendous reverberation as employees try to find housing that’s in-line with their earnings. The introduction of a high-speed rail to Springfield could foster a new workforce for Boston.

According to a report in the BBJ, a significant build and overhaul of existing transit systems would be necessary for the new rail system:

“the east-west and north-south routes [would] total 470 miles, and the project could require $364.5 million. The initiative would work with other separate rail projects, including the $78 million rehabilitation of Springfield’s Union Station underway now.”

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

0 888 Boylston Street Office Tower Sets 2014 Launch

Posted on January 30, 2014 by Wil Catlin

Credit: The Real Reporter

Back Bay continues its foothold as strongest office market in New England. The Boston Marathon and Duck Tour Parade route will pass Boston Properties’ newest landmark tower, 888 Boylston Street which is schedule to start construction in Spring of 2014.

According to The Real Reporter, “Prudential Center owner Boston Properties has an office tenant in tow that would enable the proposed 17-story, 442,000-sf building to proceed. Market sources claim Natixis Global Asset Management, a French conglomerate that owns homegrown Copley Real Estate Advisors, is negotiating for an estimated 115,000 sf to facilitate a relocation from its 399 Boylston St. home a few blocks east on the opposite side of the Back Bay boulevard.”

Additional details are available in the Real Reporter’s post.