0 The Right Time to Move into a Larger Office Space

Posted on December 15, 2014 by Wil Catlin

Credit: Grrouchie.com

Simply put, you know when your business should move into a more formidable space when your business demands it. This might mean annual cost or it might mean image, either way understand what is important to your organization and what amenities are necessary; cost is not always the driver.

Entrepreneur.com offers some general guidance for Boston businesses on the move:

“First, you’ll need to interview several real-estate brokers who have experience in the area where you’d like to rent. Second, identify exactly how much space you’ll need now and in the near future. Factor in growth, but be realistic in your estimate and don’t take on much more space than you need. Then you and the broker can begin looking for spaces that meet your space requirements, budget, location and office layout. Once you find a space you’d like to lease, then you should hire a real-estate attorney to review the agreement.”

0 Office Security a Growing Consideration for Boston Businesses

Posted on December 15, 2014 by Wil Catlin

Credit: CityMetric

Our world continues to change, and buildings that once didn’t require you to sign in now require a government-issued ID for access. To me, it’s a logical progression; we lock our doors at home and our car doors in parking lots, so we should be similarly clear on who we let into our workplace. People need to feel safe without feeling caged in.

When prospective office users are touring space in Boston, building security and property access is a topic all care about. Some prefer a locked building with key card access only while other prefer a staffed lobby where identification is required.

“In some office towers, clients compared the secure company headquarters in New York City to the Boston satellite office and wondered why there was such an open door in Boston. This comparison prompted some building personnel to needlessly upgrade security and perimeter protection to assuage fears,” according to CityMetric.

In your search for the perfect location and space, be clear on what security and safety measures your coworkers and customers value most.

0 Emerson College Looks to Acquire Transportation Building

Posted on December 15, 2014 by Wil Catlin

Credit: Boston Globe

The state could be looking to sell the Transportation Building to Emerson College. Should the state entertain an open bid process for the asset to ensure it gets top dollar?

From the Boston Globe:

“The school’s president, Lee Pelton cautioned that any deal, if it were to happen, is still at least several years away, and that the college would face competition to buy the space. But for Emerson, known for its communications and performing arts programs, such a move would mark the latest ambitious push to expand its footprint in the dense, pricey, and rapidly evolving neighborhood on the edge of Boston Common.”

“In the past decade, the college has built a pair of facilities and converted several buildings into academic space and student housing. And on Thursday, Emerson announced it will soon start construction on a dorm that had been previously announced. It also is seeking city approval to expand an existing residence hall.”

0 Boston Office Market Leads the Nation

Posted on December 4, 2014 by Wil Catlin

Charts courtesy of Marcus & Millichap via MHN Online

Boston continues to lead the nation with one of the most stable office markets which is due to a strong local economy.

Research data from Marcus & Millichap, published on MultiHousingNews.com, reaffirms this claim:

“Over 38,500 jobs were created in 2013 in the city, increasing payrolls 1.5 percent. By the end of 2014 employers will add 40,200 new jobs, of which 14,000 will be office-using positions—a 2 percent increase from last year…Developers completed approximately 4.2 million square feet of office space over the last twelve months as compared to merely 1.4 million square feet in the previous year. Around 5.2 million square feet currently under construction in the metro area is expected to come online throughout 2016.”

“According to Marcus & Millichap, approximately 3.2 million square feet of office space is set for completion by the end of 2014—a 1 percent increase from 2013—with new inventory being heavily concentrated in the Boston/Suffolk County and Route 128 North submarkets.”

You can read the full report on MHN Online.

0 BBJ Interviews Kenneth Goldberg of Bernkopf Goodman

Posted on December 4, 2014 by Wil Catlin

Credit: BBJ

A true professional; I have had the opportunity to sit across from Ken and I appreciate his perspective, approach and candor.

The BBJ published a riveting interview with Ken Goldberg that I compel you to read: Outside the Box: Kenneth Goldberg of Bernkopf Goodman.

Here’s an excerpt from the interview:

“Is there anything else that might surprise people about you? There are a lot of people who are a whole lot smarter and I work hard to make up for that. I might be up all night or well into the night to prep for a meeting — just to be fully prepared. I come across on the ball and in command. But I prepare so that I’m the best prepared in the group.”

0 What Makes for Cool Office Space in Boston?

Posted on December 4, 2014 by Wil Catlin

Credit: The Boston Globe

Some of the creative spaces to work house some interesting amenities that would have been frowned-upon in the recent past. How we work and how we collaborate has evolved, and companies are trying to offer a creative and fun environment that can help their teams excel.

Cool features include:

·         Hammock
·         Beer tabs
·         Standing desks
·         IT vending machine
·         Nap room
·         Kitchens with large flat-screen TV’s
·         Foosball
·         Treadmill desks
·         No assigned desks
·         Wall displays of employees which is designed to make introductions
·         Town hall styled meeting space
·         Glass, glass and more glass for abundant natural light

A recent Boston Globe article on Boston’s “Cool Office Spaces at Top Places to Work“, notes “some of Top Places to Work winners have some excellent digs for their employees. Newer workspaces include beer on tap, flexible workstations, and even a nap room in one case.” The Globe article also includes a slideshow of Boston’s stylish office spaces to peruse.

0 Spec Office Construction Coming to Boston

Posted on December 4, 2014 by Wil Catlin

Spec office construction is coming to Boston In 2015 – for who? Well, not for the smaller companies, their footprint would be far smaller than the new construction Class A can accommodate. The recent 4 quarters has seen a tremendous migration to the Financial District from the Seaport and East Cambridge for the value oriented office tenant. Rent within the Class B market still fall within the mid to upper $30’s per square foot.

Banker & Tradesman offers some perspective on the market shift in downtown Boston, noting “the office market continues to recover from the 2008 downturn because of an expanding tech sector and relocations of companies from Cambridge and the suburbs. Recent acquisitions of trophy office towers in Boston and Cambridge reflect the continuing interest of foreign investors seeking higher yields than government bonds, panelists said. In 2015, office investment sales are expected to slow, but overseas investors will continue to put money to work in Greater Boston, said Jessica Hughes, a managing director for JLL.”

You can read the B&T report, here, or check out our analysis of Boston Spec Suites.

0 Seaport Square: Construction Underway

Posted on December 2, 2014 by Wil Catlin

Credit: BostonsNewWaterfront.com

We have waited a long time for Seaport Square and now we can have a peak at what is underway. Construction should take about 3.5 years and will provide retail and residential to the flourishing recent office developments.3

From the BBJ, along with a Seaport Square slideshow:

“Developer John Hynes of Boston Global Investors said, ‘It’s all systems go on Monday’ and the project should be complete in 3 1/2 years. Hynes said the scale of One Seaport Square will be rivaled in recent Boston development history only by the 1958 construction of the Prudential Center and the 1984 construction of Copley Place…Stephen Wood of Berkshire Group said the residential component, which his company is handling, will be aimed at people who want ‘a seamless transition between their personal and professional lives.'”

You can read about the groundbreaking of One Seaport Sq. on the Boston Business Journal.

0 Soccer Stadium Considered in Boston

Posted on December 2, 2014 by Wil Catlin

Soccer might be coming to Boston to be closer to the fan base. The stadium could be just off of 93 within walking distance of the W. Broadway T stop.

potential cite of new stadium in downtown Boston

Credit: The Boston Globe

According to The Boston Globe, one site “under consideration is a strip of city-owned land off Interstate 93 on Frontage Road, where Boston has a large yard for towed cars and public works. The South Boston property offers easy access from major highways and is near the MBTA’s Red Line as well as rail lines at nearby South Station. Numerous sources said the Kraft family has been meeting with state and city officials to discuss the stadium and possible locations over the past several months, with the team focusing on Frontage Road.”

The Globe also quotes the Krafts through a spokesman in the article: “We are currently developing concepts for how a soccer stadium for the Revolution can benefit the greater Boston area. Once we have more developed plans, we will comment further.”

0 Boston Employs Parking Sensors to Vary Seaport Meter Limits

Posted on December 2, 2014 by Wil Catlin

Credit: The Boston Herald

The growth of the Seaport area has put a tremendous strain on parking spaces and the City of Boston is trying to accommodate. Gone are dirt lots from Summer Street to Congress Street to the Seaport Boulevard, and now the residents and visitors are battling over metered spots.

According to a Boston Herald report, “new sensors embedded in on-street metered parking spaces in Boston’s Seaport District have yielded the first changes aimed at better addressing traffic demand.” Specifically, “based on data gleaned from the new smart parking system, the city yesterday changed 81 metered spaces from the 350 Summer St. block to the 425 Summer St. block in South Boston from two-hour to four-hour maximum parking limits. Another 63 metered spaces on the 250 Summer St. and 300 Congress St. blocks were changed from maximum four-hour to maximum two-hour spaces.”

Follow the link to read the Boston Herald article.