0 Boston Mayor Strongly Opposes Parking App

Posted on July 19, 2014 by Wil Catlin

Credit: Baltimore Sun

Selling information in some cities is OK, while in others, it’s frowned upon or outlawed. What would you pay to know that a parking space would be waiting in the Financial District? Would you post that information to an app for a couple of bucks? Haystack hopes that you care to know in a number of cities across the country.

The opportunistic parking app, however, was not well-received in Boston by the city’s new Mayor. The Boston Globe described the strong response by city officials:

“Boston officials have escalated their rhetoric opposing a new mobile app that lets drivers trade public parking spaces for cash, but they are not doing anything to stop the service…Mayor Martin J. Walsh accused Haystack, the Baltimore startup that makes an app with the same name, of artificially inflating parking prices and giving some drivers an unfair advantage over others…the city’s Transportation Department ‘will take appropriate measures to prohibit any such app'”

0 Boston Leather District Attracting Tech Firms

Posted on July 19, 2014 by Wil Catlin

Our tour history of the last 180 days is 75% of the Class B tenants in the market are: Tech, Ad Firms or Architects and Design firms. Today’s tenant in the market is looking for unique amenities like; bike storage, pet friendly, shared conference space, roof decks. One of the places in Boston tech firms have been gravitating towards in the Leather District in Boston.

map of tech companies in Boston leather district

Credit: BetaBoston

Betaboston has compiled a map of tech firms in Boston’s Leather District:

“In the fall of 2011, ed tech startup Boundless set up shop in an office in Boston’s Leather District, a tiny neighborhood sandwiched between Chinatown and the Financial District. Terrible Labs and Yesware would follow in mid-2012…since then more than two dozen tech-related companies—including the Techstars Boston accelerator and Startup Institute, and Uber’s local office—have taken up residence in the neighborhood, named for its former status as a leather industry hub.”

0 Ink Block in Boston Continues to Take Shape

Posted on July 19, 2014 by Wil Catlin

Credit: Boston Business Journal

Ink Block continues to take shape with the kickoff of the residential building consisting of 475 units.

From the Boston Business Journal:

“Last year, National Development began construction on Ink Block, which, in addition to the 83 condos, will include 392 apartments, a 50,000-square-foot Whole Foods supermarket, and 35,000 square feet of other retail in six buildings on the 6-acre site. Occupancy is set for the next year.”

0 Needham Street in Newton: Hit by Water Main Break

Posted on July 19, 2014 by Wil Catlin

Store closed in Newton from water main break

Credit: Needham.WickedLocal

Business owners along Needham Street suffered a tough day on Wednesday, July 16th when a water main burst on the Route 9 side at about 9:00am, first flooding and then buckling that portion of the Street. Many businesses were shut down due to this emergency and I can speak personally by saying that as a commercial real estate broker, office buildings along the Needham Street corridor were not accessible for tours with prospective Tenants. Boston Realty Advisors represents two buildings along the Needham Street corridor affected by this water break.

Details on the situation are available on Wicked Local.

0 Newton: Commercial Real Estate Trades in Abundance

Posted on July 19, 2014 by Wil Catlin

Credit: TheRealReporter

Low interest rates coupled with a high activity of development along the Route 128 corridor has persuaded yet another Landlord in the Newton market to divest a few of his properties. Furthermore, the urban infill sector has become extremely competitive over the past 18 months, with Needham and Newton both reaping the benefits of an improved economy and a rise of multifamily and retail offerings on the Needham Street corridor. This has led to more businesses coming to the area and more tenants looking for office space within each market.

For more information on movement within the newton and needham commercial real estate markets, click to view the RealReporter’s pdf.

0 New Location for Charles River Center

Posted on July 18, 2014 by Wil Catlin

Credit: HometownWeekly

The Charles River Center has opened a new facility within Needham becoming the 10th home that the organization has opened to support local adults with intellectual and physical disabilities throughout the community. This serves as additional expansion taking place throughout the area, as residents and business owners are experiencing a boom in development occurring throughout the Town with the addition of new retail and office buildings along the Highland Avenue/Needham Street corridor.

From HomeTownWeekly.com:

“In a press release, John Grugan, President of The Charles River Center, credited a number of town officials for working with the organization to help continue its growth. Among those mentioned in the release, were the Planning Board, the Board of Selectmen, the Finance Committee, and the Conservation Committee.”

0 Innovation and Design Building in Boston Marine Industrial Park Adds Commercial and Restaurant Space

Posted on July 18, 2014 by Wil Catlin

Credit: Boston.Citybizlist

The design center will be changing what it offers after receiving BRA approval. The change will be the conversion of industrial to commercial combined with dedicated retail and amenities such as vending trucks and Hubway bikes stations.

According to Banker & Tradesman, “the $15.5 million project will convert the space from industrial to commercial space, including 50,000 square feet that will be set aside for retail and restaurants.”

The full article is available on B&T’s website

0 Blade Unveils $20M Seed Fund for Boston Tech Start-ups

Posted on July 17, 2014 by Wil Catlin

Consumer Tech is a hot spot and Blade has launched a $20M seed fund to assist which is headed up by Kayak co-founder Paul English.

The new fund is led by Paul English, co-founder of Kayak Software Corp.

According to pymnts.com, “english plans to invest $250,000 to $1 million per startup. The fund works, each selected startup will be able to use the office space at Blade’s offices in Boston for a few months, or a full year, depending on their needs, and what they are building.”

Details on the fund and its initial start-up selections, are available, here.

0 The Boston Globe is on the Move, Literally

Posted on July 11, 2014 by Wil Catlin

Credit: The Boston Herald

The new ownership is in the midst of some significant changes on the look and feel along with the location. It will be interesting to see what becomes of the 16.5 acre complex in Dorchester that has housed The Globe since the ’50. Additionally, a 150K tenant in the market with garnish many developers and may be the catalyst to get another project out of the ground.

From the BBJ:

“Boston Globe owner John Henry has hiredColliers International to search for the space that would house the Globe’s editorial, advertising and administrative offices. Commercial real estate sources familiar with the search say Colliers has looked in the Seaport area, among other locations in Boston.”

0 Newton Among Top 10 MA Cities in Growth

Posted on July 11, 2014 by Wil Catlin

Despite being one of the oldest states in the country, Massachusetts is always inventing itself and continues to draw new residents and new businesses each year. According to a study done by NerdWallet to determine the top 10 cities on the rise throughout Massachusetts, Newton ranks in third with a 66.2% overall growth score from 2009-2012. With the indication that these numbers will steadily increase, it is believed that Newton will continue to grow and add new residents and businesses throughout the coming years. Commercial real estate agents will continue to stay active as an increase in businesses throughout the area will begin looking for Newton and Needham Office space.

Credit: NerdWallet