0 $500M Copley Plan nears Completion

Posted on August 23, 2014 by Wil Catlin

Credit: Bisnow

Simon is finalizing their plans for Copley to bridge over the Pike.

Biznow reports, “the interior of the 625-foot residential tower—109 condos and 433 apartments—that will accompany 115K SF of new retail is still undefined. But ODA founder Eran Chen intends for it to be contemporary, international, and elegant to echo Boston’s strong economy, growing global cache, and reflect the unique site that straddles the historic Back Bay and South End. To create a new level of luxury living, the vast interior space will also be intimate and personal through the choice of materials and space configuration. The amenities will provide a “world of activities”: perhaps a spa, wine storage, private entertaining, and meeting rooms.”

Additional information on the Copley Place Plan, along with a sequence of images, can be found on Biznow.

0 Back Bay Office Building Sells to Blackstone for $117M

Posted on August 23, 2014 by Wil Catlin

Blackstone is the suitor for 399 Boylston Street in Boston’s Back Bay for $508.69 PSF. National coverage in Bloomberg, reports “Blackstone Group LP (BX) agreed to buy a 13-story office building in Boston’s Back Bay district for $117 million, seeking to increase income by re-leasing space in a strong market, said two people with knowledge of the deal…The seller of 399 Boylston St. is Shorenstein Properties LLC, which has owned the building since 2007…The brick-and-glass property, built in 1983, has about 230,000 square feet (21,400 square meters).”

399 Boylston St. office building in Boston

Credit: Shorenstein Properties

Follow the link to read Bloomberg’s article on the sale of 399 Boylston Street.

0 Office Rents Influenced by Proximity to Bike-Share Kiosks

Posted on August 23, 2014 by Wil Catlin

Credit: CityPhile

So as you consider where you would like to locate your new office what often comes up is area amenities. One such amenities is Bike-Share, and if you plan on being near one, expect to pay a premium in your office rents.

From Banker & Tradesman:

“Boston has the highest percentage of residents who walk to work of any major U.S. city at 15.1 percent, according to the U.S. Census Bureau’s American Community Survey. Bike commuting is a small but rapidly growing niche, rising from 1 percent in the 2000 census to 1.7 percent in the community survey, which spanned the years from 2008 to 2012….Hubway has a variety of payment plans designed to appeal to everyone from tourists to everyday commuters, ranging from $85 for an annual membership to a $6 pass for 24-hour access. Ridership has topped 500,000 trips since this year’s program began April 2, with a fleet of 1,300 bikes at 139 stations in Boston, Brookline, Cambridge and Somerville, according to Alta spokeswoman Emily Stapleton.”

0 BBJ Posts First-look at Wayfair’s new Copley Place HQ

Posted on August 23, 2014 by Wil Catlin

Want to see what Wayfair’s new HQ look like? Jump over to the Boston Business Journal for a peek at Wayfair’s new office in Back Bay’s Copley Place.

Credit: Boston Business Journal

The BBJ’s accompanying article notes Wayfair’s “new office space totals 275,000 square feet and all of the company’s employees in Massachusetts will have moved into the space by next summer. Copley Place is a mixed-use complex with 845,000 square feet of Class A office space in four towers. On-site amenities include 75 shops, two hotels, and 1,500 parking spaces.”

0 Tech Companies Drive up Office Rent in Boston

Posted on August 23, 2014 by Wil Catlin

Credit: BetaBoston

Boston ranks 7th in office rent growth compared with 20 other cities over the last 24 months. The reason for the expeditious growth rate, according to a study released this week by CBRE Group Inc., and posted on Banker & Tradesman, is the “growth of high-tech employment [that] helped drive double-digit office rent increases in Boston over the last two years.”

More information is available on B&T’s website.

0 Boston Wharf Co. Building at 51 Melcher Sells for $52.7M

Posted on August 23, 2014 by Wil Catlin

For $513.49 PSF Synergy Investments has sold 51 Melcher Street to Zurich North America. The building went through a complete renovation and was delivered fully leased to WeWork, Life is Good, and NetSuite.

According to Banker & Tradesman, “Synergy spent millions of dollars repositioning the building in the market, including base building renovations, a new main entrance and lobby, HVAC systems, new and restored windows and new roof, restrooms, plumbing, electrical service and elevators.”

Pricing with the Seaport Class B Market now is running in the upper $30’s to low $40’s PSF.

Click to view the full size graphic

0 Parking App Haystack Gets Boot by Boston City Council

Posted on August 23, 2014 by Wil Catlin

Credit: ExpiredMeter

Information is power, but the Mayor’s office has shut down Haystack in the city of Boston.

Eric Meyer, CEO of the Baltimore-based company, offered a statement in reaction to the vote, which was posted on the BBJ:

“Although we think that Ordinance 1310 should not apply to Haystack (as Haystack does not sell, lease or reserve public parking spots), it seems clear to us that City Council has passed Ordinance 1310, at least in part, to challenge and end Haystack service in the City of Boston. We believe that taking actions against new ideas and passing legislation based upon hypothetical concerns that have not materialized in the actual implementation of the Haystack app is premature and does nothing to help solve Boston’s acknowledged parking issues. The passage of this ordinance is a step in the wrong direction for parking innovation, and for innovation of every kind. Nonetheless, it is our company’s mission to solve parking issues collaboratively. Accordingly, Haystack will suspend service in Boston this week until further notice in the hopes of engaging with the Office of New Urban Mechanics and local lawmakers to identify a modified approach to parking issues that can be supported by City Hall.”

0 Downtown Crossing Office Building at Filene’s Site Nears Opening

Posted on August 22, 2014 by Wil Catlin

old filenes buikding in downtown crossing office space

Credit: Betaboston

Downtown Crossing gets ready to welcome the new occupants of the Filene’s building: ad agency Havas.

Betaboston posted a first-look photo gallery, along with some details on the building’s design selections and interior motif:

“The four floors are connected by wide staircases, and Havas calls the space a “village,” since it will house employees of Arnold, Havas Public Relations, Havas Media, which handles online and offline media buying for clients, and several other teams. About 600 Havas employees move in on Monday. No one has private offices, and the 64 conference rooms are all named after departments of the old Filene’s store.”

0 Wayfair Expands Back Bay Offices

Posted on August 22, 2014 by Wil Catlin

Credit: Bostinno.Streetwise

Office space no longer is drab and impersonal. Office space today is inspirational and personal with an edge towards technology.

From Bostinno.Streetwise.co:

“The company snapped up four floors at 4 Copley Place for its new headquarters, which are down the street from the original office at 177 Huntington. (Some people still work out of the Huntington building, however, as well as an additional spot on Boylston Street.)…The reasoning behind the new, 120,000-square-foot location is obvious: More space for Wayfair’s seemingly ever-increasing staff. Around 900 people currently work for the home decor firm, with 20 to 25 newcomers being added each week.”

0 What do you do on Conference Calls?

Posted on August 21, 2014 by Wil Catlin

Intercall

We all have to join conference calls. Where do you make them from and what do you do while you’re on one?

The BBJ highlights findings from the Harvard Business Review, examining conference call behavior. It cites an InterCall survey of 530 people:

Once we dial in (and perhaps put the phone instantly on mute), most of us are not fully engaged. In fact, 27 percent of respondents said they had fallen asleep at least once during a call. The fact that 64 percent of the respondents said they prefer cell phones over landlines explains how they can get away with doing so many other things.

According to the respondents of InterCall’s survey, the most frequent distractions are:

·         Doing other work – 65 percent
·         Sending an email – 63 percent
·         Eating or making food – 55 percent
·         Going to the restroom – 47 percent
·         Texting – 44 percent
·         Checking social media – 43 percent
·         Playing video games – 25 percent
·         Online shopping – 21 percent