0 44 Luxury Condos to Line Greenway

Posted on June 23, 2014 by Wil Catlin

rendering of proposed luxury condos on the Boston Greenway

Credit: The Boston Herald

What do you want to see on the Greenway? Are you a fan of keeping the green space or providing more housing, retail and office. This plan calls for market condos and 4,000 RSF of retail space to be added to Boston’s Greenway .

From the Boston Herald:

“A Boston developer is looking to build a 12-story luxury condominium building to fill in one of the missing “teeth” facing the Rose Fitzgerald Kennedy Greenway…Boston Residential Development’s plans for the estimated $40 million India Street project call for 44 condos and some 4,000 square feet of restaurant/retail space on a 7,100-square-foot site that’s now a small parking lot.

The condos would be a mix of one- to three-bedrooms from 600 square feet to 1,750 square feet.“

0 Blackstone Continues to Sell Boston Holdings

Posted on June 17, 2014 by Wil Catlin

Office building at 125 Summer Street (click for details)

Our city is on the move, and along with it, some noteworthy addresses. 100 High Street and 125 Summer Street are the latest towers to announce that they are under agreement to be sold by Equity Office, Blackstone. The sale is expected to close in September.

The BBJ, reporting on Blackstone’s portfolio activity, notes “the private equity firm, which acquired its Greater Boston property portfolio in 2007 when it bought Equity Office Properties Trust for $39 billion, has reached an agreement to sell five office properties in Greater Boston to a Canadian real estate investment firm. The deal is the latest move by New York-based Blackstone as it disposes of the local real estate portfolio it bought before the financial crisis.”

More information is available on the Boston Business Journal’s coverage, here.

0 Boston Office Demand Remains Strong

Posted on June 17, 2014 by Wil Catlin

Credit: NAIOP

Our own Chris Sower participated in a panel discussion this morning in the Seaport for NAIOP. Demand showed little sign of letting up for office space in Boston through 2015. Tenant-in-the-market demand is up nearly 70 percent from 2012.

From Banker and Trandesman:

Greater Boston’s busy development scene shows little sign of slackening through 2015 with strong demand for commercial and multifamily properties, analysts predicted at an industry event Thursday. Tenants are in the market for 4.4 million square feet of office space in downtown Boston, an increase of 69 percent from 2012, said Rebecca Galeota, a senior vice president at Cassidy Turley. “The flight to urbanization only plays to the strengths of our city,” she said.

0 Suburban Offices Fight the Trend Downtown

Posted on May 28, 2014 by Wil Catlin

Credit: Boston Business Journal

Where should you locate your company office? Most groups I speak with are trying to provide an option that accommodates multiple solutions; easy access from public transportation, amenity rich environment, vibrant workforce and economically feasible.

This doesn’t mean that groups are flocking to the vacant office buildings on 495, but rather looking inside of 128 and more specifically within areas serviced by the Red Line. New hotspots for the emerging tech firms are surrounding the Broadway T stop. This caters to the young workforce residing in South Boston, the commuter coming in from Metro West combined with those either driving or relying on public transit from the South Shore. This area is generally priced in the mid $20’s PSF unlike the Seaport which would price in the upper $30’s to low $40’s for a comparable Class B building.

From the BBJ:

“Some suburban companies are moving to Cambridge and there’s all the buzz about the Seaport District,” said Garry Holmes, president of R.W. Holmes Realty Co. in Wayland. “We’re also seeing the same people who worked at EMC and live in the suburbs launching startups. And they’re convinced the in-vogue thing to do for hiring is to have an office in Seaport. As a result, lots of those startups are bypassing the suburbs and it’s having an impact out here.”

The full article is available on the Boston Business Journal.

0 Cool Office Space in the Seaport?

Posted on May 28, 2014 by Wil Catlin

Credit: Bostinno.streetwise.co

Yes, cool space can still be found in the Seaport. Lose It is on the lucky side with a great view Boston’s waterfront at 250 Northern Avenue.

From Bostinno.streetwise.co:

“Snuggled up in the Seaport, the startup has miraculously secured one of the best views of the harbor in the city. Seriously…Lose It!’s handful of employees are living large. An entire side of the company’s perfect, petite office is glass, overlooking the water. On nice days, people can venture outside onto the balcony and scoop up a spot on a bench to take their phone calls and lunches in the open air.”

0 101 Tremont Street Office Space

Posted on May 28, 2014 by Wil Catlin

office building at 101 Tremont Street in Boston

Click to view details on office space at 101 Tremont Street

101 Tremont Street, under new ownership, is undergoing a transformation into a 1st Class historic mid-rise.

101 Tremont Street Features:

• Lobby renovation
• New state of the art building systems
• High speed fiber optic network
• New elevator cabs
• Complete renovation of the exterior storefront
• First generation space ready for custom design
• Three sides of natural light
• High and open ceilings
• New, large operable windows
• Adjacent to the Boston Common and Park Street Station
• Surrounded by the City’s best amenities

Where is it located:

Credit: JLL

0 Downtown Crossing Office Space and Residential Markets Both Booming

Posted on May 28, 2014 by Wil Catlin

Credit: Wall Street Journal

This is the hottest office and residential market going and has evolved from one of the seediest. Yes, Downtown Crossing; with great MBTA access and new developments, business are moving in and residential developments are emerging from shuttered buildings.

The Wall Street Journal recently wrote about the developments and high-rises taking over Downtown Crossing, noting, “New luxury developments are transforming Boston’s Downtown Crossing from a neighborhood once called the “Combat Zone” to an enclave of luxury living…The new wave of development is transforming the landscape of Downtown Crossing. The neighborhood’s population increased 44% from 2000 to 2010, compared with a 4.8% rise in Boston’s total population, says the Boston Redevelopment Authority.”

A national view on the transformation of Boston’s Downtown Crossing is available on the WSJ’s website, here.

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 AtSite Lands Innovation District Office in Boston

Posted on May 12, 2014 by Wil Catlin

Credit: Boston Globe

The Innovation District continues to grow and has become a destination location for 1st timers opening offices in Boston. AtSite’s president and CEO says is all, “Boston’s Innovation hub is the perfect setting for our building performance solutions.”

The announcement from AtSite is featured on digitaljournal.com:

“The Boston location is in a neighborhood known for its creativity and collaboration and draws a steady stream of entrepreneurs. ‘WeWork’s biggest draw for AtSite is the emphasis on an innovative use of shared resources, in a forward leaning and collaborative way,’ said Lisa West, AtSite VP of Marketing. ‘We are really excited to be in Boston, and having our offices operated with an inspiring design aesthetic and a great location is a real win for us.'”

The full article can be found on digital journal, here.

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.”