0 Contemporary Laboratories Feature Open Floor Plans, Modular Workstations

Posted on January 24, 2014 by Wil Catlin

Credit: Boston Business Journal

Our change from private offices to collaborative open office layouts has extended into the modern laboratory. Gone are individual rooms, now the norm is an open plan with modular workstations.

The Boston Business Journal recently described the modernization of lab space:

“The laboratory remains the center of innovation for biotech companies, but the layout has changed in the past two decades from tiny rooms with aluminum foil covering the windows to airy, open, flexible spaces that resemble office space.”

The full article is available on the BBJ

0 22 Batterymarch Street in Boston Sells for $10.5M

Posted on January 24, 2014 by Wil Catlin

Office building on batterymarch street in Boston

Credit: Boston Business Journal

The Class B trades continue in the Financial District with 22 Batterymarch for $300 per square foot. As the vacancy continues to drop and lease rates increase, we will see more sellers coming to the table in coming months.

A BBJ article offers details and background on the property at 22 Batterymarch:

Built in the 1890s, the 35,000-square-foot Class B office building once served as the Harvard Club. Around 30 years ago, the property was converted into a multitenant office facility. The seven-story building was acquired by Taurus in 1998 for $4.4 million. It is assessed at $5.3 million.

The complete article is available on the Boston Business Journal.

0 Sullivan Square Up Next?

Posted on January 24, 2014 by Wil Catlin

Credit: Flickr

As rents continue to drive Northward and vacancy drops, Boston’s office market will seek new areas for expansion; Sullivan Square could be next on the list.

An article on Banker and Tradesman recently suggested that Sullivan Square would be well-served by a major overhaul:

“Rutherford Avenue is atrocious coming through right now,” said Peter Bekarian, an executive vice president at commercial real estate brokerage Jones Lang LaSalle. “It’s an under-improved industrial area that could stand to benefit exponentially (from redevelopment).”

The B&T article examines the potential of the area, and opportunity for development around the Orange Line.

0 Mixed-Use Office Buildings Remain Popular in Boston

Posted on January 24, 2014 by Wil Catlin

Credit: Banker & Tradesman

For Boston’s Central Business District, 2014 with be similar to 2013. Continued rent growth in the Class A and B office market with office vacancy continuing to decline. Mixed-use office space should also be front-and-center.

From Banker and Tradesman:

“Most urban projects that are on the drawing pad today have some mixed-use component, even if it’s just ground-floor retail,” said Shawn Hurley, executive vice president for Skanska USA Commercial Development in Boston. “That is reflective of the desire to strengthen the urban nature of these buildings, with pedestrian access and activity along the streets.”

The complete, related B&T article can be found, here.

0 87 Summer Street office space: affordable Downtown Boston option?

Posted on January 17, 2014 by Wil Catlin

Office building on Summer Street in Boston

Credit: Loopnet

Boston Realty Advisors represent the 2,162 RSF on the Mezzanine level of 87 Summer Street that is priced in the mid to upper $20’s. This building is owned and managed by Synergy Investments that controls in excess of 3.5 M RSF of Class B product in Boston.

In the heart of Downtown Boston, 87 Summer Street offers cool collaborative space with full floor identities. This property offers Verizon & Comcast with high speed connectivity, and many other local amenities.

87 Summer Street is located within the Downtown Crossing Business Improvement District. Just a short walk to public transportation such as the Red, Orange & Green Line T stops, along with the commuter rail at South Station. There is also a wealth of parking within the area.

0 Tech Banking Office opens in Financial District Boston

Posted on January 17, 2014 by Wil Catlin

Boston is home to some creative entrepreneurial companies that innovate continuously. Wells Fargo, amongst others, are after their deposits and corporate banking requirements. The days have gone by of old school banking, we now, as customers, require Apps.

From the BBJ:

“Wells Fargo & Co. is expanding its Silicon Valley-based technology banking group into Boston, and it has pinched executives from two high profile competitors to run the new office…The Boston office at 101 Federal St. will be run by commercial bankers Debra DelVecchio and David Dickinson.”

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

0 Price of Office Space in Boston’s Innovation District Still Climbing

Posted on January 16, 2014 by Wil Catlin

How expensive is the Innovation Districtt? Well, Boston’s Innovation District has pulled neck-and-neck with Back Bay. The Innovation District has benefited from a tremendous influx of tenants that could no longer afford East Cambridge and Kendall Square. Now with prices at or above pre-crash levels, the value play is within the low-rise Class A and Class B office space in the Financial District.

Office space in Boston's Innovation district and Back Bay

Credit: Boston Globe

A managing director at Cassidy Turley, David Campbell, recently commented to the Boston Globe, “the Innovation District has offered the most obvious place for the city to grow…the Big Dig and the convention center and the Ted Williams Tunnel have really made it fertile ground for future development.”

More from Campbell is available in the full article, on the Boston Globe’s website.

0 Boston’s Startup Growth Expected to Continue in 2014

Posted on January 8, 2014 by Wil Catlin

Credit: Boston.com

Startups continue to be the focus for 2014. The Boston office market has seen rents continue to rise within the Class B market – space that is favored by newly-funded startups. Buildings that are poised to offer newly built out space within the redeveloped Downtown Crossing are Druker’s 373 Washington Street with some floors at 4,524 rentable square feet. This becomes a perfect size as groups graduate from the CIC or Space with a Soul and establish their own home.

Boston.com published its expectations for the new year:

Coming in 2014: Kayak co-founder Paul English opens a new incubator/nightclub/exhibition space on Summer Street called Blade. WeWork, a nationwide network of co-working spaces, is planning two Boston locations, both near South Station, on opposite sides of Fort Point Channel. TechStars Boston is moving from Cambridge to Boston, as I first reported in October, to space on Lincoln Street in the Leather District.

The full article is posted on Boston.com

0 Real Estate Advice for Funded Entrepreneurs

Posted on January 8, 2014 by Wil Catlin

My role is to assist companies navigating through their real estate requirements. Many times I hear, “we just closed on our recent round and we can’t commit to a 5 year term lease, we don’t know where we will be in 18 months.” This is so true, part of my process is matching the best landlords with a tenant’s project growth.

Do you know what makes the best landlord for you?

0 The Block on Congress Reinvented

Posted on January 8, 2014 by Wil Catlin

Credit: Boston Herald

An era gone by, no longer will the Fidelity sign hang at 82 Devonshire Street. Related Beal acquired the 343,000 square foot portfolio and is in the process of reviewing plans to revitalize the retail storefronts. Boston developer Related Beal has acquired a five-building portfolio in the Financial District from Fidelity Investments with plans to upgrade its office and retail space.

Stephen Faber, executive vice president of Related Beal, commented on the opportunity in an article on Banker & Tradesman’s website:

“Rarely do you have the opportunity to reposition and reinvent an entire city block, especially one in the heart of downtown Boston,”

The full article is available, here.