0 Kendall Square Lures Startups from Boston Suburbs

Posted on February 18, 2014 by Wil Catlin

Credit: OneKendallSquare

More companies are moving into the city and vacating their suburban campus model. Why is the occurring? Talent, employers want to make it easy for the existing workforce and also for future new hires. Most younger workers don’t wish to have cars and would prefer to walk, bike or T to work. Cambridge, among other downtown hubs, are reaping the benefits.

The Boston Globe notes the recent lure of Kendall Square and the Seaport in Boston:

The suburban exodus means demand for commercial space around Kendall Square and the Seaport is greater than it’s ever been. The danger is that all this demand prices out the small companies that are driving the innovation economy’s urban movement in the first place.

The full article is available on the Boston Globe’s website.

0 400 Atlantic Ave. in the Financial District Sells for $50M

Posted on February 18, 2014 by Wil Catlin

Credit: Boston Business Journal

Trades in the fully-stabilized office sector continue to bring strong numbers and show no sign of slowing down in Boston’s Financial District.

From the BBJ:

Colonnade Properties has sold 400 Atlantic Ave., the 100,000-square-foot office building between Boston’s Financial and Seaport Districts, to Credit Suisse on behalf of a private client for $50 million.

The full article is available on the Boston Business Journal’s website: 400 Atlantic Ave, Sold for $50M.

0 Billion-Dollar Sale includes two Buildings on Fan Pier

Posted on February 12, 2014 by Wil Catlin

Credit: Boston Business Journal

Developers continue to permit, build and lease as their buildings come online and stabilize, they sell. We will continue to see trades within the office sector as our economy continues to grow and outperform the national average.

The most recent indication of this trend is the sale of two buildings on Fan Pier. According to the BBJ, Senior Housing Properties Trust plans to acquire the two office buildings in Boston’s Seaport District. A closing is expected in the next few months. The nearly 1.7-million-square-foot deal includes 1.1 million square feet of office space while the remaining portion is the underground garage.”

Additional details are available on the Boston Business Journal.

0 MA Job Growth Strongest Since 2000

Posted on February 11, 2014 by Wil Catlin

Credit: The Boston Globe

Our local economy continues to grow and outperform the national average. This is mirrored by the increased price of office space per square foot that has surpassed pre-recession levels.

The Boston Globe reported on the strong year in 2013:

“Despite the impact of automatic federal budget cuts known as sequestration, the state gained more that 55,000 jobs in 2013, compared to about 49,000 in 2012 and 43,000 in 2011, the state Executive Office of Labor and Workforce Development reported Thursday. It was the best year of job growth since 2000, when the tech boom — shortly before it went bust — drove the creation of about 95,000 jobs.”

The full article is available on the Globe’s online outlet here: The Boston Globe

0 888 Boylston Street Office Tower Sets 2014 Launch

Posted on January 30, 2014 by Wil Catlin

Credit: The Real Reporter

Back Bay continues its foothold as strongest office market in New England. The Boston Marathon and Duck Tour Parade route will pass Boston Properties’ newest landmark tower, 888 Boylston Street which is schedule to start construction in Spring of 2014.

According to The Real Reporter, “Prudential Center owner Boston Properties has an office tenant in tow that would enable the proposed 17-story, 442,000-sf building to proceed. Market sources claim Natixis Global Asset Management, a French conglomerate that owns homegrown Copley Real Estate Advisors, is negotiating for an estimated 115,000 sf to facilitate a relocation from its 399 Boylston St. home a few blocks east on the opposite side of the Back Bay boulevard.”

Additional details are available in the Real Reporter’s post.

0 Contemporary Laboratories Feature Open Floor Plans, Modular Workstations

Posted on January 24, 2014 by Wil Catlin

Credit: Boston Business Journal

Our change from private offices to collaborative open office layouts has extended into the modern laboratory. Gone are individual rooms, now the norm is an open plan with modular workstations.

The Boston Business Journal recently described the modernization of lab space:

“The laboratory remains the center of innovation for biotech companies, but the layout has changed in the past two decades from tiny rooms with aluminum foil covering the windows to airy, open, flexible spaces that resemble office space.”

The full article is available on the BBJ

0 22 Batterymarch Street in Boston Sells for $10.5M

Posted on January 24, 2014 by Wil Catlin

Office building on batterymarch street in Boston

Credit: Boston Business Journal

The Class B trades continue in the Financial District with 22 Batterymarch for $300 per square foot. As the vacancy continues to drop and lease rates increase, we will see more sellers coming to the table in coming months.

A BBJ article offers details and background on the property at 22 Batterymarch:

Built in the 1890s, the 35,000-square-foot Class B office building once served as the Harvard Club. Around 30 years ago, the property was converted into a multitenant office facility. The seven-story building was acquired by Taurus in 1998 for $4.4 million. It is assessed at $5.3 million.

The complete article is available on the Boston Business Journal.

0 Sullivan Square Up Next?

Posted on January 24, 2014 by Wil Catlin

Credit: Flickr

As rents continue to drive Northward and vacancy drops, Boston’s office market will seek new areas for expansion; Sullivan Square could be next on the list.

An article on Banker and Tradesman recently suggested that Sullivan Square would be well-served by a major overhaul:

“Rutherford Avenue is atrocious coming through right now,” said Peter Bekarian, an executive vice president at commercial real estate brokerage Jones Lang LaSalle. “It’s an under-improved industrial area that could stand to benefit exponentially (from redevelopment).”

The B&T article examines the potential of the area, and opportunity for development around the Orange Line.

0 Mixed-Use Office Buildings Remain Popular in Boston

Posted on January 24, 2014 by Wil Catlin

Credit: Banker & Tradesman

For Boston’s Central Business District, 2014 with be similar to 2013. Continued rent growth in the Class A and B office market with office vacancy continuing to decline. Mixed-use office space should also be front-and-center.

From Banker and Tradesman:

“Most urban projects that are on the drawing pad today have some mixed-use component, even if it’s just ground-floor retail,” said Shawn Hurley, executive vice president for Skanska USA Commercial Development in Boston. “That is reflective of the desire to strengthen the urban nature of these buildings, with pedestrian access and activity along the streets.”

The complete, related B&T article can be found, here.

0 Tech Banking Office opens in Financial District Boston

Posted on January 17, 2014 by Wil Catlin

Boston is home to some creative entrepreneurial companies that innovate continuously. Wells Fargo, amongst others, are after their deposits and corporate banking requirements. The days have gone by of old school banking, we now, as customers, require Apps.

From the BBJ:

“Wells Fargo & Co. is expanding its Silicon Valley-based technology banking group into Boston, and it has pinched executives from two high profile competitors to run the new office…The Boston office at 101 Federal St. will be run by commercial bankers Debra DelVecchio and David Dickinson.”

The full articles is available on the Boston Business Journal’s website.