0 Boston Mayoral Candidate, Walsh, Would be Pro-Development

Posted on October 9, 2013 by Wil Catlin

Credit: Banker & Tradesman

If you are a single issue voter and a developer, your choice could be clear.

A well-organized Banker & Tradesman editorial has outlined the mayoral race with respect to each candidate’s potential impact on commercial real estate market:

But the Dorchester state rep is also popular with the developers and construction bosses, tough, no-nonsense men he has surely dealt with on the other side of the negotiating table, scooping up several thousand dollars in campaign contributions in the last month alone. This flood of cash from well-off builders underscores a key, if little-examined, facet of Boston’s pivotal mayoral race: Other than electing International Place builder Don Chiofaro or Suffolk Construction czar John Fish to the mayor’s office, it’s hard to imagine a potential future chief executive of Boston who is likely to be more aggressively pro-development than Walsh.

The full editorial is available on the B&T website.

0 Boston Office Rents Climb 3.5 percent

Posted on October 9, 2013 by Wil Catlin

Credit: Boston Herald

This is only part of the story. True, rental rates have risen, but the overall occupancy cost has risen even more than just the rental rates. In a rising market, like we are currently in, landlord’s contribute less in tenant improvement costs and offer much less rent abatement. This then translates into a higher occupancy cost. During a down market, a landlord could offer 125 percent of the first years rent to go improvements of the space, that number now could be 75 percent of the first years rent.

The Boston Herald’s analysis notes “office rents in Greater Boston grew at an even higher rate — 3.9 percent — primarily due to strong growth in Cambridge, downtown Boston and the northwest submarket, the report found. And rents may begin to rise at an even faster rate because employment levels in office jobs are reaching pre-recession levels.”

The Herald article can be found here: Hub Office Rates Jump

0 Sale of Vertex Towers Being Considered

Posted on October 9, 2013 by Wil Catlin

Credit: Boston Business Journal

If you dream it, build it and lease it; they will come. As much is true at least if you’re Joe Fallon, developer of Fan pier.

A Boston Business Journal report notes that Fallon, the creator of the Seaport’s Waterfront Towers, is considering another sale that would impact that market. According to the BBJ, “Fallon will sell the two Vertex towers on Fan Pier at the right price.”

Further details on the potential sale of Vertex towers can be found on the BBJ.

0 Seaport Traffic Signs Attempt to Minimize Gridlock

Posted on October 9, 2013 by Wil Catlin

Credit: The Boston Globe

What is the quickest way home from the office via car? As we all know, this can change based on the day or time of day. Well, there’s an app for that, kind of. The city will be trying out LED signs that are updated remotely with real-time data. The longer-term goal is to make this available online as well.

My plan would be to integrate Google Traffic on a street by street basis and make that available on the LED signs.

The Boston Globe reported “the LED boards will be posted at the exits of high-volume parking garages, providing drivers with real-time driving estimates to help them make more educated decisions — and to help them get the heck out of Dodge as quickly as possible. Three of the signs are set to appear next month.”

Additional details are available on the Boston Globe’s website: Signs to Ease Way out of Seaport

0 Fenway Center Hits Roadblocks

Posted on October 9, 2013 by Wil Catlin

Architects rendering of Fenway Center in Boston

Credit: The Architectural Team via Boston Business Journal

Does building over the Turnpike have to make roadblocks? Projects of this nature — like Fenway Center — simply take time and patience.

Amid a number of delays, the BBJ has directed it’s readers to one of the project’s positives to date:

“one part of the development is nearing completion. The new $13.5 million Yawkey Commuter Rail Station reconstruction project, a major component of the development paid for by the state, is underway and ahead of schedule and could be open in a few months.”

The full article is posted on the Boston Business Journal

0 Indoor Cycling Chains Enter Boston Market

Posted on October 9, 2013 by Wil Catlin

Credit: ncsl.org

When we Bostonian’s think about New York and rivalries we think about Yankees and Jets. Now we have a fresh New York rivalry coming to our hometown, indoor cycling. Truth be told, I am not an expert on this, but I strongly believe in healthy competition. According to the NCSL, Massachusetts has an obesity rate of 22.7 percent compared to New York of 24.5 percent. So if you want to get healthy and reduce you body mass index visit Flywheels new center at the Prudential complex.

Additional health statistics, along with a state-by-state analysis are available on the National Conference of State Legislatures website.

0 Boston Harbor Garage version 2.0

Posted on October 3, 2013 by Wil Catlin

Boston Harbor Garage plans for redevelopment

Credit: Boston Globe

It seems that the new vision for the Boston Harbor garage is far more aligned with the community interests. Community interest at times can be hard to quantify, but when they are against you, you know it. The real question is the height of the parking structure.

The Boston Globe reports “after shelving a prior scheme for two skyscrapers on the garage site, Chiofaro is pitching an array of new ideas, with one key difference. This time, he is trying to focus the public’s attention on what could be constructed on the building’s ground floor, instead of along the skyline.”

The insightful piece on the new plans for the Harbor Garage redevelopment can be found on the Boston Globe’s website.

0 Eight Leases at 85 Devonshire St / 262 Washington St in Boston

Posted on October 2, 2013 by Wil Catlin

Office Building at 85 Devonshire Street / 262 Washington Street in Boston

Our downtown leasing team has assisted KS Partners in in leasing over 24,000 square feet at 85 Devonshire and 262 Washington Street.

CityBizList reported on the results:

“New tenants include Barletta Engineering, represented by Vesper Realty Advisors, Inc., Executive Offices for the Massachusetts Community Colleges and AnnKissam, both represented by Colliers International, Autism Speaks, represented by Newmark Grubb Knight Frank and REsurety on a direct basis….The building is located in Downtown Crossing and provides access to all major MBTA T stops and food and retail amenities, including the new Walgreens flagship store.”

The full CityBizList article is available here

0 Wellesley Bank Opens Location at 1 Federal Street

Posted on October 2, 2013 by Wil Catlin

Credit: Wellesley Bank

A new bank branch combined with a new logo at 1 Federal Street. Wellesley Bank is one of many banks targeting downtown customers with their new branch.

An article on the Wall Street Journal’s website notes, “the new logo coincides with the opening of the new Boston office location at One Federal Street in the heart of Boston’s Financial District.”

For additional details on the logo and new location at 1 Federal Street, real the full article on the WSJ’s website.

0 Ice Skating at Rowes Wharf this Winter

Posted on October 1, 2013 by Wil Catlin

Rendering of an ice skating rink at rowes wharf

Credit: Equity Office via BBJ

The BBJ reported today that “Equity Office is planning an ice skating rink this winter under the iconic rotunda of Rowes Wharf, home of the Boston Harbor Hotel.”

This is the type of news that all readers can enjoy and think about; perhaps when their parents took them skating for the first time or a first date with someone special? Either way, what a great use for the space and I look forward to taking a few laps with my family.

Full details are available on the Boston Business Journal.