0 Two Liberty Square in Boston’s Financial District Sold for $18M

Posted on January 15, 2013 by Wil Catlin

Two liberty square office building in boston's financial district

Photo: courtesy of Jones Lang LaSalle via Boston Business Journal

Another Class B Financial District office building is said to have traded hands; 2 Liberty has reportedly been acquired by Urdang.

Coverage on the Boston Business Journal offers the following background on the building:

“Built in 1913, the 64,357-square-foot boutique office building was designed in the Beaux Arts style by Peabody & Stearns. It was renovated in the 1990s and combines historical architecture with modern infrastructure. It is located near Post Office Square, Faneuil Hall Marketplace and the Rose Fitzgerald Kennedy Greenway. The property is 81 percent occupied with nine tenants, according to brokers.”

0 11 Beacon Street, Class B Office Space in Boston Trading Hands

Posted on January 15, 2013 by Wil Catlin

Another Class B Financial District assets is said to trade hands; 11 Beacon is reported to go the Synergy Investments. The Class B market continues to see trades along with increasing rents; currently B product is pricing in the upper $20’s too low to mid $30’s depending on location and improvement package. According to CoStar the vacancy rate for Class B in the Financial District is 11.9 percent as of 12/31/12.

This pdf created by TheRealReporter.com offers details on the Class B office transactions.

0 Demand for Services, Mixed-Use Developments Increase in Boston Commercial Market

Posted on January 15, 2013 by Wil Catlin

Boston’s commercial real estate skyline will continue to change during 2013, with the debt market still eager to loan. Mixed-use projects are on the front burner as demand for services continues.

A recent Banker & Tradesman reader survey reports that, “more than 42 percent of developers and commercial construction professionals [that responded to the survey]…said laboratory and healthcare projects will likely be built this year. More than 50 percent said they expect financing to be available at reasonable terms for multifamily apartment construction.”

The complete commercial real estate survey is available Banker & Tradesman website.

Alternatively, follow the link to view available office space in Boston, or Cambridge.

0 ‘Vibrant’ Retail Plaza Considered in Post Office Square

Posted on January 11, 2013 by Wil Catlin

Plaza at 100 federal st in boston's financial district

Photo Credit: John Tlumacki via Boston Globe/Boston.com

Boston Properties is mulling options on how to integrate retail amenities and a host of restaurants into the tremendous presence in the Financial District, at 100 Federal Street.

Boston Globe writer, Casey Ross, wrote on Boston.com, “the project at 100 Federal St. is still in its preliminary stages. But owner Boston Properties Inc. is seeking to create a more vibrant gathering space by adding new retail offerings at the base of the tower, which stands across from Post Office Square Park…The company is weighing several different options, including enclosing a portion of the plaza in a glass structure for restaurants and food-oriented retail businesses.”

Complete details of the potential Financial District renovations are covered on Boston.com via BostonGlobe.com.

0 Brown Brothers Moves Offices to 50 Post Office Square

Posted on January 10, 2013 by Wil Catlin

Rendering of 50 post office square boston

Photo Credit: Elkus Manfredi Architects via the Boston Globe

As the vacancy rate in the Financial District continues downward tenants seek out opportunities of value. Case in point, Brown Brothers is moving its offices to 50 Post Office Square. Brown Brothers took this opportunity to consolidate its workforce into one location and capitalize on a building that has been owner occupied since its construction in 1947.

The Boston Globe notes, “Brown Brothers Harriman & Co., the oldest privately held financial institution in the country, is moving to a historic building in Boston’s Financial District, signing one of the largest leases in the city in recent years.”

Additional details on the lease are available on the Boston Globe online.

0 Melcher Street Grows into Hub

Posted on January 10, 2013 by Wil Catlin

Offices on Melcher Street in Boston named 'M Block'

Photo Credit: Stuart Cahill for the Boston Herald

The Seaport District continues to evolve with a new micro market on Melcher Street, designated as “M Block.” This is a combination of residential, office and retail on what was once a cut through. Now it will be a destination location accommodating todays changing lifestyle that is mirrored Meatpacking District in New York.

Office rents for Class B space have jumped to the low $40’s PSF with very few available options.

According to a report by Donna Goodison of the Boston Herald, “a new campaign branding it as the “M Block” is designed to draw attention to the restaurant, office and residential projects bringing new life to the street of former warehouse buildings probably best known for the old elevated pedestrian bridge that stretches above it.”

Follow the link for more information on the development of Boston’s M Block.

0 Synergy Buying Boston’s 2 Oliver St.; Deal Listed by C&W Tops $50M

Posted on January 8, 2013 by Wil Catlin

Office building at 2 Oliver St boston ma

Photo Credit: New England Real Estate Journal

The trades in the Class B market continue; Synergy Investments add 2 Oliver Street to its portfolio. 2 Oliver is a great opportunity for Class B tenants that are in the 10K – 20K range to capitalize on competitive pricing combined with a great location. With over 50K square feet available there are plenty of great options.

According to details published on The Real Reporter, “the 11-story, 223,000-sf office building is an exclusive listing of Cushman & Wakefield on behalf of a local partnership between AEW Capital and Saracen Investments. Sources spoken to peg pricing in excess of $50 million, exceeding industry projections made when put up for sale to open the fourth quarter.”

Jump over to therealreporter.com for more information.

0 Financial District Shows Improvement; Seaport Reigns Supreme

Posted on January 8, 2013 by Wil Catlin

The office market continues to tighten, but the best value opportunities still exit in the Financial District with Class B Rents in the low to mid $30’s.

Banker and Tradesman reports that “Boston’s Financial District registered a vacancy rate of 11.9 percent at the year’s end, an improvement of four percentage points over the year.”

Additional details are available on the Banker and Tradesman website.

0 Boston Building Growth Strong in 2012

Posted on January 8, 2013 by Wil Catlin

Yes, our city as we know it is changing and by that, I mean growing. With 22 developments starting in 2012 we can expect to see 2,500 construction workers taking to the streets to build new offices and homes. So, take time to let them in our out of traffic so our city can continue to grow and prosper.

A report in Banker and Tradesman notes that “in 2012, projects broke ground in Allston/Brighton, Charlestown, Chinatown, the Innovation District, Jamaica Plain, the Longwood Medical Area, Mattapan, Roxbury and South Boston. These projects have housing, hotel, athletic, municipal, office and retail uses.”

Related Office Space
Available Commercial Real Estate in Boston

0 MFS Moves Corporate Headquarters to 111 Huntington Avenue

Posted on January 4, 2013 by Wil Catlin

Photo Credit: Wikipedia
111 Huntington Ave.

As the market tightens, companies like MFS have found a new home, moving from 500 Boylston Street to 111 Huntington Avenue. MFS’ new corporate headquarters boasts a LEED Gold certification as well.

The move is part of a larger migration for MFS. A report in Banker & Tradesman notes, “earlier this year, MFS relaunched its corporate brand identity, launched its first-ever global advertising campaign and opened new offices in São Paulo, Hong Kong and Sydney.” Click through to read Banker & Tradesman’s coverage.