Author Archives: Wil Catlin

0 Update on the Callahan Tunnel’s Impending Closure

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Boston's Callahan tunnel

Credit: BBJ

What makes Boston perfect for the business traveler? Well, I for one have spent many hours commuting from airports to the cities they serve. Boston is different; our airport is in our city and just a short cab ride or a couple of stops on the Blue Line. The Callahan Tunnel — a core path to Logan airport — was opened in 1961 and like all infrastructure, needs maintenance. The tunnel is scheduled to close on December 27th and reopen on March 12th.

Details on the tunnel’s modifications were posted on the Boston Business Journal:

The DOT awarded McCourt Construction a $19 million contract in August for the project. During the time the tunnel is shut completely, the project will mainly involve demolishing and rebuilding the roadway and deck through the tunnel. East Boston-bound traffic will be redirected to the Ted Williams, the Tobin Bridge, or Route 16 in Everett. That third option involves plenty of intersections along the way to Route 1A. So DOT will upgrade traffic signal equipment at 20 spots, primarily along Route 16.

The full BBJ article is available on the Bizjournals website

Did you know that the tunnel was named for the son of Turnpike chairman William F. Callahan, who was killed in Italy just days before the end of World War II.

0 South Station Renovation Progresses; New Restrooms Announced

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South Station construction in Boston

Credit: Banker & Tradesman

The upgrades at Boston’s largest community hub continue. Yesterday, the first step of South Station’s augmentation was completed, with the opening of new women’s restrooms.

From Banker & Tradesman:

“South Station restroom changes include the creation of an airport-quality ladies room in the former Clark’s space. The accessible restroom fixtures will increase from 16 to 20. An expanded, high-quality men’s restroom is currently under construction, and the existing men’s restroom will be moved temporarily during construction to the former women’s room. The construction barrier around the Red Line elevator has been installed and work is being conducted at night. Additional security and signage is in place to direct commuters to the new restroom area.”

The full B&T article is available, here.

0 Boston Ranks 2nd in Construction Jobs

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Construction on Boston office spaces

Credit: Boston Globe

Greater Boston is 2nd to Los Angeles in new construction jobs, beating Houston, Atlanta and Phoenix. Employers and employees want to work live and play in our beautiful city.

According to the Boston Globe, “since August 2012, construction activity and employment have jumped. The Boston metro area added 8,700 construction jobs, compared with 8,900 in Los Angeles and 8,200 in Houston…Driving this surge are several factors, including the strength of Boston’s technology, biotechnology, and medical industries, pent-up demand for housing, and improved credit conditions that have made financing available for commercial construction.”

What we’re experiencing is the revitalization and creation of communities that cater to the changing demands of today’s workforce, while offering all aspects of a residential community that includes schools and grocery stores. Thank you to our construction industry for making this happen.

The full Globe article is available to subscribers, here.

0 Boston Real Estate: How will Marty Walsh Impact Development?

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Martin Walsh speaking

Credit: The Boston Globe

Will the development pipeline of new construction continue at its current rate, or drop off under the Walsh administration?

An article in the Boston Globe highlighted some of the questions around the Walsh administration, and its potential impact on office development:

It was clear that Walsh’s plainspoken Dorchester demeanor did not always mix easily with some of the business constituencies he must now represent.

Let us know your thoughts in the comments below, or jump over to the full article on the Boston Globe’s website.

0 South Station Redevelopment: Back to the Drawing Board

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South Station in Boston

Credit: Boston Business Journal

The starts and stops at South Station redevelopment – will we see condos or more office space?

A recent article on the BBJ’s website, quotes a senior vice president in Hines’ Boston office:

Seven years after getting permits for a 1.9-million-square-foot mixed-use project anchored by a 47-story office tower, Houston-based developer Hines is headed back to the drawing board. It plans to reduce office space and eliminate a 200-room hotel while increasing the number of residential units, said David Perry, a senior vice president in Hines’ Boston office.

For the full article, head over to the Boston Business Journal.

0 The 25 Largest Office Buildings in Greater Boston (via BBJ)

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John Hancock Tower

Credit: Wikipedia

When thinking about your next office do you care to be in one of Boston’s top 25 largest buildings?  Number one is the John Hancock with a total of 1,755,400 rentable square feet that is owned by Boston Properties.

The Boston Business Journal has posted its list of the top 25 largest office buildings in Greater Boston. You can download a pdf containing the complete list of the largest office buildings in greater boston, courtesy of the BBJ.

0 Fidelity Lab Division Tracks Technology and Patents, not Mutual Funds

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What happens within our downtown office buildings?  Innovation, and not just by technology companies.  Fidelity Investments is constantly providing new technology features to its customer base to allow faster, easier access to information.

The Boston Globe recently published an editorial on a division at Fidelity that examines patents and technology, rather than mutual funds or stocks.

“Fidelity’s Center for Applied Technology, home to a team of 75 employees globally who work on high-tech projects for the investment and brokerage giant. While most people at the Boston firm are devoted to managing money and selling retirement plans, this group is responsible for innovation, including technology that helps customers do business with Fidelity and get information about their investments…This department of Fidelity Investments celebrates new patents, instead of mutual fund records. Its giant wall screens display new technology for investors, not the daily movements of the stock market.”

Fidelity Investments Center for Applied Technology

Credit: Boston Globe

The complete editorial is available to Globe subscribers on BostonGlobe.com.

0 Boston Office Towers: Occupancy Drop; Rents still Climbing

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State street offices in Boston

28 State Street – Office Building

Where is the value in office space within Boston? Low and mid-rise Class A.

Tenants in recent years have worked on space efficiency like State Street with their new facility in the Seaport, which will have less than 100 square feet per employee. Additionally, tenants have sought out a flight to quality by moving up in floors during the recent economic downturn and locking in rates for a longer term.

The Boston Business Journal cites a survey by Jones Lang LaSalle, “which examined 46 towers in the Back Bay, Financial District and the Seaport, found 22 buildings where occupancies dropped, while 21 saw increases and three were flat, year-over-year. Within the 31.8 million-square-foot office market, 5.7 million is available to lease – the equivalent of three John towers.”

More information from the survey is available on the BBJ’s website.

0 Tech Sector Hoping Walsh can Keep Downtown Office Space Affordable

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200 High St. Boston

Office space at 200 High Street in the Financial District

Mayor Menino departs in January for Mayor Elect Walsh.  Will our economy grow and prosper with the next administration?  Well, it is a delicate balance that will spur development while maintaining affordability.

Boston.com posted a dense, thought-proviking piece examining the impact of the mayorial change on small business locations and city-based office space. Here are a few notable quotes from the article:

I spoke with a half dozen tech entrepreneurs about their hopes for and expectations of the incoming Walsh administration, and picked up on two major themes…They want the new mayor to help keep office space affordable and to improve public transit in the Innovation District.”

IdeaPaint president John Stephans told me his business, which is moving from Ashland to Boston in January, would have liked to relocate sooner but found the cost prohibitive until it enjoyed several successful years.

“We always wanted to be in the city, as do a lot of companies,” he said. “But I think companies feel priced out, especially young, venture-backed start-ups.”

The full article is available on Boston.com, here.