0 Marine Park’s Bronstein Center Targeted for Commercial Use

Posted on June 17, 2014 by Wil Catlin

Credit: Boston Business Journal

What does it take to convert a former munitions building to full commercial use?

Well, some history of the site according to Wikipedia. The Department of Defense purchases the site in 1920 and split it up between the Navy Annex and the South Boston Army Base. During World War II the site was used as a machine shop, power plant, barracks, dry dock warehouse.

Post World War II the annex was used to store ships and in 1074 the City purchased the site and it became the Boston Marine Industrial Park. As our city expand we need to accommodate more commercial use and less industrial use and Jamestown is looking for approvals to do so.

The Boston Business Journal reports, “last year, Jamestown Properties bought the Boston Design Center from Millennium Partners for $72.7 million and the adjacent Bronstein Center for $48 million. The 1.4-million-square-foot complex is located at 21, 23, and 25 Drydock Ave. at the far end of the Seaport District.”

Details on Marine Park and the potential commercial conversion, head over to the BBJ’s website.

0 Blackstone’s Boston Commercial Real Estate Portfolio Sells for $2.1B

Posted on May 28, 2014 by Wil Catlin

125 summer street in Boston

Who is your new landlord and should you care? Equity Office, Blackstone, is in the process of selling off assets. The newest to be announced are 100 High Street and 125 Summer Street.

From Banker & Tradesman:

“Private equity giant Blackstone Group will sell five Boston properties to Oxford Properties Group of Toronto for $2.1 billion, the Wall Street Journal reported.
The deal comprises 3.2 million square feet of office space, including 100 High St. and 125 Summer St. in Boston…Oxford will jointly purchase three other properties with J.P. Morgan Chase: 60 State St. and 225 Franklin St. in Boston and One Memorial Drive in Cambridge, the Journal reported.”

Additional details on the sale are available on the B&T website.

0 888 Boylston Street to Join Back Bay Skyline

Posted on May 23, 2014 by Wil Catlin

The skyline of Back Bay will see its newest member come out of the ground starting late this summer.

888 Boylston Street is Boston Properties final component of the Prudential Center that consists of: 800 Boylston Street (Prudential Tower), 101 Huntington Avenue, 111 Huntington Avenue along with the Shops at Prudential. This site is 23 acres that sits between Boylston Street and Huntington Avenue. It consists today of 2.6 million square feet of Class A office space, and 550 square feet of retail space, combined with underground parking for 3,660 cars.

Curious how Back Bay has changed over the years? Take a look at this aerial view of Copley Square taken from a plane in 1957, courtesy of BostonStreetCars.com:

Credit: BostonStreetCars.com

0 Boston Commercial Real Estate: Rife with Office Space Renovations

Posted on May 12, 2014 by Wil Catlin

Office building at 230 Congress Street

Landlords in Boston continue to make considerable upgrades to their buildings as part of the ongoing courting process for new tenants. Beacon Capital has continuously made improvements to its Boston assets such as 1 Financial Center, and the newly acquired 230 Congress Street.

Another recent renovation is 177 Huntington Ave., following the departure of Wayfair. A Banker and Tradesman article notes some of the buildings modifications:

“To reposition 177 Huntington for new tenants, Beacon installed new art and signs and LED news strips in the elevator bays. On Monday, Varano Group will open a Caffe Strega breakfast and lunch cafe in the lobby. The owners wanted a name-brand restaurant operator to set the lobby apart, Gratton said.”

0 Etymology of MA Company Names

Posted on May 3, 2014 by Wil Catlin

What’s in a name? My firms name came from the idea to say what we do in our name, we act as real estate advisors to our clients and are headquartered in Boston.

What’s your company’s story?

The Boston Business Journal put together an article indicating how nine Mass. tech companies got their names. Included in the list are Akamai Technologies, Aereo, Brightcove, Content Raven, FeedHenry, Jess, Meet Ken, Rapid7, Verivo Software , and Wayfair.

You can read the MA branding stories on the BBJ.

0 Boston Office Market Maintains Strong Results for Landlords

Posted on April 10, 2014 by Wil Catlin

155 Federal Street

The Boston Office market continues to produce strong results for landlords. The low rise Class A and Class B market in the Financial District continue to offer a value option to prospective tenants.

According to news site, news.gnom.es, “First quarter 2014 marked Greater Boston’s fourth consecutive quarter of positive absorption. The market also posted its highest four-quarter positive absorption total since 2007, with 3.6 million square feet absorbed from second quarter 2013 through first quarter 2014.”

The article quotes 542,000 SF of positive adsorption in Boston in the First Quarter. You can read the full article, here.

0 BRA Approves $2.3B in New Projects

Posted on November 20, 2013 by Wil Catlin

BRA approves new projects in downtown Boston

Credit: Boston Business Journal

So what does $2.3B look like in the City of Boston? We’ll soon find out. The BRA has just approved seven new projects collectively totaling $2.3 billion.

The Boston Business Journal published a gallery showcasing each of the seven projects. You can view the gallery via the following link: BBJ Slide Show.

0 Boston Ranks 2nd in Construction Jobs

Posted on November 20, 2013 by Wil Catlin

Credit: Boston Globe

Greater Boston is 2nd to Los Angeles in new construction jobs, beating Houston, Atlanta and Phoenix. Employers and employees want to work live and play in our beautiful city.

According to the Boston Globe, “since August 2012, construction activity and employment have jumped. The Boston metro area added 8,700 construction jobs, compared with 8,900 in Los Angeles and 8,200 in Houston…Driving this surge are several factors, including the strength of Boston’s technology, biotechnology, and medical industries, pent-up demand for housing, and improved credit conditions that have made financing available for commercial construction.”

What we’re experiencing is the revitalization and creation of communities that cater to the changing demands of today’s workforce, while offering all aspects of a residential community that includes schools and grocery stores. Thank you to our construction industry for making this happen.

The full Globe article is available to subscribers, here.

0 Boston Real Estate: How will Marty Walsh Impact Development?

Posted on November 15, 2013 by Wil Catlin

Credit: The Boston Globe

Will the development pipeline of new construction continue at its current rate, or drop off under the Walsh administration?

An article in the Boston Globe highlighted some of the questions around the Walsh administration, and its potential impact on office development:

It was clear that Walsh’s plainspoken Dorchester demeanor did not always mix easily with some of the business constituencies he must now represent.

Let us know your thoughts in the comments below, or jump over to the full article on the Boston Globe’s website.

0 Real Estate Developers Voice Case for Tax Breaks

Posted on November 4, 2013 by Wil Catlin

Credit: The Boston Globe

Are you in favor or opposed of tax relief for construction projects? A Boston Globe editorial addressed the issue of added tax relief for construction projects, noting “the developer of Boston’s ambitious Fenway Center development is seeking $7.8 million in city tax breaks to proceed with construction, saying the $500 million mega-project could fall apart without urgent public assistance.”

The full Globe article, available here, further explores the issue.