0 Boston Among Top Hubs for International Investment

Posted on March 21, 2016 by Wil Catlin

Credt: Bisnow

Since I am from Boston, I am clearly biased in thinking that this is The Hub. Boston has a wonderful cross section of talent and disciplines that make our collective community diverse as we compete in the public theatre.

This also holds true in real-estate and investment activity, according to a report from real estate firm JLL, “which ranked Boston 14th in the world, and fourth in the U.S., in terms of international investment activity in the last three years, relative to its size.”

“JLL listed Boston among a number of small to medium-sized cities in the U.S., Europe, and Australia with strong infrastructure and talent-driven economies that have become popular with foreign capital, as prices have surged in the most expensive big markets. Those cities have doubled their share of global real estate investment over the last decade.”

You can read more on the Boston Globe.

0 Can Small Businesses Grow and Evolve in Co-Working Spaces

Posted on March 21, 2016 by Wil Catlin

Credit: Bisnow

Yes, you can. The devil is in the details, and at some point when your head count gets above a certain level you will want to create your own company culture.

From Bisnow:

Over just the past couple of years, we’ve watched modern co-working become a multibillion-dollar industry, seemingly right under our noses. WeWork’s now valued well into the 11-digit range, and attempts to jump into the fray are everywhere, from in-house shared space provided by companies like Silverstein Properties, to small operations popping up outside of traditional office districts. But if part of the point of co-working spaces is to help small companies grow, what happens when they do?

The answer: they evolve and develop an internal culture to reflect its products and corporate values.

0 Starbucks Unveils “High-End” Spin-Off Cafe

Posted on March 21, 2016 by Wil Catlin

Starbucks high-end cafe concept, Reserve in NYC

Credit: Bisnow

Starbuck on a high end scale? Well, some customers might appreciate the vibe and who would have thought that a bottle of water would be more expensive than a gallon of gas in 2016?

According to Bisnow, Starbucks is trying its hand at upscale cafes, called Reserve, “where a 12-ounce cup of plain black coffee will go for $4—twice as much as the chain’s signature Pike Place roast…the store’s interior—with color palette evidently inspired by coffee—is an art aficionado’s dream. The walls are decked out with artwork for purchase; the center of the store is a cozy lounge complete with armchairs, sofas, standing lamps and a vintage rug; hand grinders and other coffee accessories are on display around the store. The menus—hand-lettered pieces of paper clipped to backer boards—include exclusive and rare coffees, with prices up to $4.50 for a medium serving.”

The Reserve brand originates from Starbucks’ specialty coffee line, and is expected to grow to 500 stores globally over the next several years.

0 Seaport Office Boom Leads to Traffic Complications

Posted on March 21, 2016 by Wil Catlin

Boston seaport office building on Congress St

303 Congress Street (click to view property details)

The Seaport is a vibrant live, work and play location that continue to evolve. The next challenge for all the success is how to mitigate the traffic.

From Banker & Tradesman:

Seaport Boulevard is a hotbed of construction, boasting corporate headquarters with worldwide name recognition…[and] with only two bridged access points, the neighborhood’s traffic is not yet overwhelmingly terrible (at least not any more than the rest of the city), but it grows worse with every new high-rise. Parking is becoming increasingly scarce, particularly in the winter months.

City planners are well aware of these issues and are taking steps to address them. Despite growing pains, the neighborhood known varyingly as Fort Point, the Seaport and yes, even the Innovation District, is an unparalleled success.

0 BRA Wants the Lights Dimmed on Boston’s Seaport

Posted on March 21, 2016 by Wil Catlin

Credit: B&T

How bright is too bright for Boston’s Seaport? It appears that what has been proposed in the design phase is significantly dimmer than post construction and the regulators are rethinking approvals going forward.

From Banker&Tradesman:

The Vertex Pharmaceuticals headquarters’ “eye-catching arrays have met with mixed reviews in a city that often views changes in the skyline with suspicion.”

“Personally, I loathe the lighting on those buildings,” said Michael Davis, co-chair of the Boston Civic Design Commission. “We like interesting, progressive architecture, but subtlety is important and the new lighting we’re getting on the Fan Pier, no one would call subtle or sophisticated.”

Now, Boston Redevelopment Authority (BRA) officials are asking the developer to tone down the light show.

0 Boston Office Space Closes Out 2015 with Peak Rents

Posted on March 14, 2016 by Wil Catlin

office rent prices in Boston over the past few years

Credit: B&T

According to our research office rents will continue to grow through 2017 within the greater Boston market. On top of that, construction costs continue to climb while tenant improvement dollar’s decline and rent abatement all but disappears.

From Banker & Tradesman:

Rents in Class A downtown office towers jumped 7.4 percent in 2015, with a nearly 4 percent jump in the last three months of the year, according to Lisa Strope, New England research director for JLL.

Leasing activity downtown leaped 18 percent during the fourth quarter.
The average rent for top-shelf office space in Boston ended 2015 at just under $61 a square foot, up from $52 at the end of 2013.

“Suddenly downtown is looking good to a lot of people,” Strope said.

0 Boston City Hall Plaza Transformation Edges Closer

Posted on March 14, 2016 by Wil Catlin

Boston’s City Hall Plaza is poised to change to become a destination location for locals and tourists.

rendering of Boston city hall plaze redevelopment

Credit: Boston Globe

From the Boston Globe:

The owners of TD Garden have won a bid to remake Boston’s City Hall Plaza, proposing to transform the little-loved, windswept brick expanse at the heart of the city into a bustling year-round hub of arts, food, and leisure. Delaware North Cos. was tapped for the project Thursday by the administration of Mayor Martin J. Walsh, beating out two competitors. The company said in its bid it was willing to invest “upwards of $15 million” in improvements and attractions.

While its plans are conceptual and will require public input and further approval from the city, Delaware North made numerous suggestions for the plaza, including:

An “iconic” observation wheel, up to 200 feet high and featuring 42 climate-controlled gondolas.
A “casual cool” restaurant featuring local ingredients in a temporary two-story building surrounded by outdoor eating and beer garden areas. Nearby, a ground-level “#BOSTON” sign would become “an instant landmark . . . the ultimate new Boston selfie station.”
An “urban beach” area would be set up in summer, replete with sand, beach chairs, umbrellas, and cabanas.
A winter garden and ice skating venue, featuring “cozy warming huts,” hot cocoa stations, and — why not? — curling.
Additional concert series that would build on the success of the popular Boston Calling festivals.
A series of interactive art installations, inspired by the glow-in-the-dark “Impulse” seesaws in Montreal that also play music.
Semi-permanent food and coffee stalls near the Government Center MBTA station.

0 Boston Waterfront Redevelopment a Possible Byproduct of GE Deal

Posted on March 10, 2016 by Wil Catlin

Credit: Boston Globe

The influx of GE jobs may bring Seaport improvements along with them. Traffic in and out the Seaport offers frustrations beyond which Waze can redirect. Let’s hope we see much need infrastructure upgrades.

According to the Boston Globe, “Tucked in the agreement to bring General Electric Co.’s global headquarters to Boston is a commitment from the city to spend as much as $100 million to reopen the Old Northern Avenue Bridge, while the state will kick in $25 million to improve roads, pedestrian walkways, and bike lanes throughout the Seaport District…The money, city and state officials said Tuesday, is beyond what they publicly pledged to encourage the industrial conglomerate to relocate about 800 employees from its home office in Fairfield, Conn. The GE deal, announced last week, included up to $120 million in state subsidies for property and infrastructure expenses and as much as $25 million in tax breaks from the city.”

You can read more on the financial overtones of GE’s move to the Seaport on the Boston Globe’s website, here.

0 Boston Plans Services and Office Space for Entrepreneurs

Posted on March 10, 2016 by Wil Catlin

Credit: Boston Business Journal

Tech industry insiders are trying to find better ways to connect with you. What do you care about when you consider starting something new:

Location
Cost
Term
Amenities
Collaboration
Mentors
Synergistic services

From the BBJ:

At a Monday meeting in Boston of the governing board of MassTech Collaborative’s Innovation Institute, industry leaders talked about what’s working with the state’s vast programs and services for entrepreneurs, what could be done better, and how significant the services are to the broader economy.

Massachusetts is already home to several “collaborative workspaces” for entrepreneurs, ranging from co-working spaces such as WeWork to makerspaces such as Arisan’s Asylum in Somerville, to incubators such as Greentown Labs in Somerville and accelerators such as Boston-based MassChallenge.

The MassTech Collaborative’s 2015 “Innovation Index” found that there are about 33 co-working spaces, 25 makerspaces, 26 incubator programs and 15 accelerator programs in Massachusetts.

0 Stiff Competition for Tech Talent in Boston

Posted on March 3, 2016 by Wil Catlin

Credit: Boston Globe

The growth of our tech economy has created some hurdles for employers seeking some tech talent. Benefits to employees have moved to Foosball, basketball courts and roof decks to help promote an inviting culture.

What does your company offer?

From the Boston Globe:

An index published by the Massachusetts High Technology Council, a trade group in Waltham, ranks Massachusetts as the most difficult state in the country to hire tech workers, along with Maryland and Virginia. The index, compiled with Worcester Polytechnic Institute, the employment site Monster.com, and the New York research firm Wanted Analytics, is based on a variety of data, including job postings and local unemployment rates.

“The level of demand and hiring difficulty are an indicator of the tech sector’s strength,” said Mark Gallagher, the high tech council’s vice president for public policy and communications, “but if unaddressed could be a constraint on the region’s ability to expand and remain a leader.”