The Seaport continues to attract tenants with vacancy just below 5 percent. Zipcar will be expanding its footprint by taking 45,000 square feet that Thompson will be vacating.
Banker & Tradesman staff writer, Jim Cronin, reports that “Zipcar will likely fill about 45,000 square feet of space that Thomson Reuters is expected to vacate at Thomson Place in Boston’s Fort Point neighborhood in 2014.”
Click through to Banker & Tradesman for the complete report.
The Seaport continues its reach with DivcoWest’s investment of $105 million for four buildings off Congress Street. Market vacancy is less than 5 percent while rents have just reached the $40 PSF mark.
Casey Ross, of The Boston Globe reports, “DivcoWest made its name in Silicon Valley, buying and developing properties that house some of the nation’s most prominent technology firms, including Apple Inc. and cellphone maker Motorola…Now it is trying to replicate that tech success in the Boston area by snapping up properties in the Seaport District and East Cambridge.”
Jump over to The Boston Globe to read the complete story.
Blue Ginger has been a mainstay in Wellesley for 14 years and consistently delivering East-West cuisine to their lunch and dinner guests. The addition of Blue Dragon — a new restaurant from Ming Tsai — in the Seaport will be a welcome selection for the business occupying the 31M RSF of office space within a .5 mile radius of 324 A Street.
The Boston Herald reports, “the host of PBS’ “Simply Ming” TV cooking show is slated to soon meet with the neighborhood about an eatery at 324 A St., site of the long-closed A Street Deli.”
Read more about Ming Tsai’s South Boston restaurant.
eBay is settling in on one of the Financial Districts 16 buildings that currently have more than 60K RSF of contiguous space according to CoStar. Vacancy within the Financial District is running just below 15 percent with opportunities in the low to mid rise space within the Class A inventory and the entire Class B market.
The Boston Business Journal offers some perspective on the transaction, noting “the lease would be one of the largest on record this year for the Downtown market and would mark a significant win for The Chiofaro Co., the International Place’s developer and current leasing manager.”
For more information, we recommend reading the Boston Business Journal’s full report.
State Street is on the move, and the Seaport continue to evolve.
The Boston Business Journal is reporting “the Boston Redevelopment Authority has put its stamp of approval on a $11.5 million tax break for State Street Corp., tied to the construction of a new office building in South Boston.”
To read more on the Seaport and State Street migration, click here.
Vacancy in the Financial District dropped to 14.8 percent with rents up 1.25 percent to just over $45.60, while Back Bay is just over $55.25 and the Seaport District is $51.00.
Banker & Tradesman states, “the Greater Boston office market enjoyed a strong second quarter, according to a new quarterly research publication released this morning by Richards Barry Joyce & Partners LLC (RBJ&P).”
To read the complete article, click through to Banker & Tradesman.