Category Archives: Boston Commercial Real Estate

0 Boston Set for Commercial Real Estate Recovery in 2013

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Boston office building near government centerBoston’s commercial real estate market will see office lease rates soar in 2013, and is one of 10 cities expected to experience significant growth. The growth is attributed to areas of high-technology and biomedical research & development, which attract highly-educated workforces.

Thomas Grillo, Real Estate Editor at the Boston Business Journal, noted that “Boston made the list of Top 10 U.S. cities where the commercial real estate recovery will soar next year with gains in leasing, rents and pricing across all property sectors”, citing an Urban Land Institute’s Emerging Trends in Real Estate Forecast.

More information on the Urban Land Institute’s forecast is available on the Boston Business Journal’s Real Estate section.

0 Innovation District Attracts Cambridge Law Firm

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Map of the Innovation District in Boston

Photo Credit: innovationdistrict.org

The Innovation District continues to attract tenants from other markets despite increased rates and dropping vacancy.

The Boston Globe reports “the law firm Finnegan, Henderson, Farabow, Garrett & Dunner is the latest business to join the exodus from East Cambridge to Boston’s growing Innovation District.”

Further property details, along with the additional information on the firm, are available at The Boston Globe online.

0 Brookline Bank to Sell Financial District Office Building

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Financial District office building at 31-33 State St., Boston

(Photo Credit: Boston Herald)

The Class B market in Financial District has another asset trading hands.

According to the Boston Herald, “the bank [Brookline Bancorp] said yesterday that 31-33 State St., a slender structure built in the late 1800s, is under agreement to be sold to an unidentified buyer by the end of the year.”

This is another indication that Boston’s Financial District remains an active market for downtown office space heading into Q4.

For more information on the sale of Brookline Bank’s financial district office building, read the Boston Herald’s full report on the sale of 31-33 State Street.

Related Commercial Real Estate Listings
Financial District Office Space for Lease

0 Best Value For Office Space in Boston: Financial District

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Back Bay office space Where is the best value for office space in Boston?  The Financial District, rents are 20 percent below Back Bay with vacancy rates at 14.9 percent.

Banker & Tradesman reports that a “six-quarter streak of positive absorption in Boston’s Financial District has increased occupancy there by 848,000 square feet…Back Bay rental rates are now at a record 20 percent premium over asking rates in the Financial District.”

Further analysis is available at Banker & Tradesman.

0 Cambridge Expansion for Merrimack Pharmaceuticals

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Office space at one kendall square cambridge As the market strengthens, companies are making long-term commitments by expanding their footprint and ensuring they have a place to grow. This is evident in Merrimack Pharmaceuticals’s announcement that its expanding its lease at One Kendall Square in Cambridge.

Additional details on the new long term lease in Cambridge are available on the Boston Business Journal.

Related Office Space Listings
Cambridge Commercial Real Estate

0 Tech Companies Filling Up Financial District Office Space

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Office space at 100 Federal Street BostonThe Office Market recovery in Boston and Cambridge is here. The real question is for how much longer will favorable opportunities exist for tenants.

The Boston Business Journal reports that “a survey of 44 office buildings by Boston brokerage McCall & Almy found that of the 26.5 million square feet of space studied in the Financial District, 16.6 percent was available in September, down from 20.3 percent at the close of last year.”

More information on the Financial District occupancy rates is available on the BBJ’s web site.

Related Commercial Real Estate
Financial District Office Space Listings

0 Boston Office Construction Up 10x from 2011

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Commercial real estate construction in Boston, MA

(Photo Credit: The Boston Globe)

Cranes, dump trucks continue to be a mainstay within the city limits of Boston. Between office and lab nearly 5 million square feet is under construction, which is up over 10 fold from the summer of 2011

A Boston Globe editorial reports “the region’s office construction market is making a strong comeback, driven by the expansions of medical and biotechnology companies that are funding new buildings going up in Boston’s Seaport District, East Cambridge, and suburbs along Route 128.”

Related Real Estate Listings
Boston Commercial Real Estate
Residential buildings in Boston

0 Tenants Migrate to Class A Buildings in Financial District

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Real Estate in post office sq bostonTenants continue their migration from Class B buildings to Class A within the Financial District.  With vacancy rates just below 15 percent opportunities for tenants to trade up still exist.  Rents within the low rise Class A space will fall in the upper $30’s to low $40’s depending on the building.

Banker and Tradesman reports, “the move is the result of an expansion push by Managing Director Robert Brown, who came to the firm last year.”

Related Resources
What to know about finding office space in the Financial District, Boston

0 Frye Trots Out Newbury Street Store

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More boots to Newbury Street; the nation’s oldest continuously operated footwear brand, Frye Boots, is opening their 2nd U.S store on the corner of Newbury and Gloucester.

The Boston Globe is reporting that Frye Co. “plans to open a three-story flagship store on Newbury Street next spring. It will take over the space formerly occupied by Charley’s restaurant, which closed Sunday after being unable to negotiate a new lease with the building’s owner.”
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