0 Mass Jobless Rate Dips to 15-Year Low

Posted on September 21, 2016 by Wil Catlin

Credit: Bizjournals

“Make it in Massachusetts” Our economy is strong, companies are hiring, and we have achieved a new low; the lowest unemployment rate since 2001.

According to the BBJ, “Massachusetts’ total unemployment rate dropped to 3.9 percent in August from the previous month’s 4.1 percent — a new low that hasn’t been seen since 2001 — according to the state…Preliminary estimates showed the state gained 5,900 jobs over the month, the Executive Office of Labor and Workforce Development reported.”

Further details are available on the Boston Business Journal’s website, here.

0 2 Charlesgate West Headed to Fenway

Posted on September 19, 2016 by Wil Catlin

Credit: Boston Herald

More change for the Boston skyline on the Fenway and Back Bay border.

According to the Boston Herald, “Trans National Properties has detailed plans to replace its Fenway headquarters with a 29-story tower called 2 Charlesgate West, which would have 173 apartments and 122 condos…The project would replace parent company Trans National Group Services’ nondescript 40-year headquarters and include 186 parking spaces, a 10,000-square-foot restaurant and 7,500 square feet of office space for Trans National.”

Additional details are available on the Boston Herald, here.

0 Boston to Test Self-driving Cars

Posted on September 19, 2016 by Wil Catlin

Credit: BBJ

The impact this will have from city planning to garage space will be dramatic. Can you imagine “Ubering” you own car? Well, when you think about it, if your car can drop you at the office and go park itself snugly near its pears with little-to-no circulation space compared to today’s standards, this is a game changer. I currently park in the Prudential Center garage where they bring in valets during the peak hours to shuttle cars around; with self-driving cars no longer do you need to go to the valet, rather your car will come to you.

From the Boston Business Journal:

The city said the collaboration will include a year-long program focused on creating policy recommendations and supporting on-street testing of autonomous vehicles “to advance the safety, access and sustainability goals identified by the public” during a future-of-transportation initiative called Go Boston 2030.

0 Back Bay Towers from Liberty Mutual Go up for Sale

Posted on September 10, 2016 by Wil Catlin

Back Bay office building for sale on 75 Arlington St

75 Arlington Street in Back Bay

Liberty Mutual Insurance is looking to take some cash off the table with their announcement that they will be selling 10 St. James Ave. and 75 Arlington St. in Back Bay.

10 St James Avenue
• 565,758 RSF
• 19,606 RSF/Floor
• 20 Stories
• Built in 2001
• 400 Parking Spaces
• Last sale was $342,700,287 in January of 2006

75 Arlington Street
• 244,000 RSF
• 25,000 RSF/Floor
• 00 Stories
• Built in 1914
• Last sale was $147,799,713 in January of 2006

From the BBJ:

The Boston-based insurer occupies about 40 percent of the 825,000 square feet of space in the two buildings, it said. In recent years, Liberty Mutual has moved some employees from the buildings into its new 22-story headquarters at 157 Berkeley St. that opened in 2013.

“We’re selling now because we fully occupy our new building,” spokesman John Cusolito said in an email. “The (St. James Avenue and Arlington Street) buildings are 96 percent occupied; however, owning and operating investment properties is not our primary business.”

0 Expanded Downtown Crossing Public Plaza Contemplated

Posted on September 7, 2016 by Wil Catlin

Credit: BBJ

More “me space” and “we space” is what the city is looking to do in DTX. Space to gather with colleagues or sit alone and update your profile is the aim of the pilot public plaza along Franklin Street and Arch Street.

From the Boston Business Journal:

The Boston Transportation Department on Tuesday morning will temporarily widen sidewalks at Franklin and Arch streets, the first step in a pilot program that will study creating permanent public plaza at the intersection.

“With the T station at Franklin and Washington reopening soon, we know foot traffic will pick up on this street,” said Chris Osgood, the city’s chief of streets, in a statement. “We’re taking a tactical approach to improving this area for pedestrians. In the future we can imagine a whole network of parks and plazas from Shopper’s Plaza to Post Office Square and on to the Greenway.”

0 Seaport Office Space Continues to Expand

Posted on September 7, 2016 by Wil Catlin

The Seaport office market is poised to grow yet again by adding 298,700 square-feet on Parcel Q1 for a total height of 163 feet.

The entire Seaport office market looks like:

There are 97 office buildings in the Seaport District, for a total of 11,339,861 square feet of office space:

• 11 Class A buildings, totaling 4,141,571 square feet
• 60 Class B buildings, totaling 6,004,891 square feet
• 25 Class C buildings, totaling 1,193,399 square feet

Related Office Listings
Seaport Office Space for lease

0 Cambridge Office Building Slated for 145 Broadway in Kendall Sq.

Posted on September 6, 2016 by Wil Catlin

Credit: Boston Globe

The E. Cambridge office market will continue to grow with a 454,000 square-foot project from Boston Properties. Currently that market is just under 12M Square-feet of Class A project with vacancy under 5%.

According to the Boston Globe, “the Cambridge Planning Board next month will consider Boston Properties’ designs for a 454,000 square-foot, 19-story, office building at 145 Broadway. It’s the first phase of nearly 1 million square feet of new development that Boston Properties is planning on land it owns along Broadway and Binney Street in the booming biotech district. Later phases include more office space and a large apartment and condo building that would reach as high as 34 stories.”

Additional details are available on the Boston Globe website.

0 Cambridge Company Debuts Self-Driving Taxis

Posted on September 1, 2016 by Wil Catlin

Self Driving taxi from Cambridge start-up

Credit: Boston Globe

They might be driven in Singapore, but a small start-up at 1 Broadway in East Cambridge, nuTonomy Inc., has designed the control software to facilitates self-driving taxi cabs.

From the Boston Globe:

“This is the world’s first public trial of robo-taxi service,” said nuTonomy cofounder and chief executive Karl Iagnemma. “This is the start of what’s going to be a technology revolution.”

NuTonomy is providing the control software guiding the six taxicabs that debuted in Singapore, modified electric cars from French automaker Renault and Japan’s Mitsubishi. Each vehicle uses lasers and cameras to observe its surroundings and steer through Singapore’s business district. An engineer from nuTonomy was in the front seat, ready to take control if necessary, and a researcher in the rear monitored the cars’ computers.

0 Known Restaurateur Launches Seaport Location

Posted on September 1, 2016 by Wil Catlin

253_summer_street_Seaport The missing piece of the puzzle has been solved at 253 Summer Street with a new food concept.

From Bizjournals.com:

The 253 Summer St. project has received a $2.25 million building permit to “build out (a) new restaurant along basement area/new exterior storefront facing Harborwalk.” Leaf said early plans for the restaurant include adding windows to what’s now a painted concrete wall, with the restaurant’s entrance facing the Harborwalk. There are also tentative plans to have a patio dining area on what’s now pavement along Necco Court — a spot that will directly abut GE’s headquarters campus.

0 Boston to NYC Acela Service May be at Risk

Posted on September 1, 2016 by Wil Catlin

Credit: BBJ

Looking to go to and from NYC on the Acela? Those days might be numbered. It appears the financial obligations of various agencies are not being honored.

From the BBJ:

In a court filing this week, Amtrak signaled that it may not be able to offer rail service to riders in the Bay State unless the MBTA begins meeting its obligations under what is known as the Attleboro Line Agreement.

“MBTA’s refusal to honor its contractual payment obligations has resulted in financial harm to Amtrak, which could potentially jeopardize Amtrak’s ability to provide rail service in Massachusetts,” Amtrak said. “Amtrak depends on timely payments from MBTA for services rendered to ensure its financial stability, fund its operations, and provide service to rail customers traveling to and from Massachusetts. No business partner should have to wait over five years to receive payment on a valid, authorized, and undisputed invoice that is contractually required to be paid within 30 days.”

You can read the full article on the Boston Business Journal’s website, here.