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 Real Estate Advice for Funded Entrepreneurs

Posted on January 8, 2014 by Wil Catlin

My role is to assist companies navigating through their real estate requirements. Many times I hear, “we just closed on our recent round and we can’t commit to a 5 year term lease, we don’t know where we will be in 18 months.” This is so true, part of my process is matching the best landlords with a tenant’s project growth.

Do you know what makes the best landlord for you?

0 The Block on Congress Reinvented

Posted on January 8, 2014 by Wil Catlin

Credit: Boston Herald

An era gone by, no longer will the Fidelity sign hang at 82 Devonshire Street. Related Beal acquired the 343,000 square foot portfolio and is in the process of reviewing plans to revitalize the retail storefronts. Boston developer Related Beal has acquired a five-building portfolio in the Financial District from Fidelity Investments with plans to upgrade its office and retail space.

Stephen Faber, executive vice president of Related Beal, commented on the opportunity in an article on Banker & Tradesman’s website:

“Rarely do you have the opportunity to reposition and reinvent an entire city block, especially one in the heart of downtown Boston,”

The full article is available, here.

0 James Hook site at Fort Point Channel: Rumored Development Plans

Posted on December 23, 2013 by Wil Catlin

Credit: Boston Business Journal

The skyline along Atlantic Avenue overlooking the Seaport/Innovation district will have some new company in 2014.

The Boston Business Journal is reporting potential development on the former James Hook & Co.’s waterfront building:

the Hooks are proposing a building of undetermined size on the site at 436-440 Atlantic Ave. to house a “rustic” lobster restaurant on the ground floor. It is unclear whether the building would contain offices or apartments.

For additional information, jump over to the BBJ.

Alternatively, you can view Seaport office space for lease by following the link.

0 Is Boston the New Innovation Hub?

Posted on December 18, 2013 by Wil Catlin

Credit: Bostinno.Streetwise.co

Is downtown Boston the new innovation district? Well, yes it is. Downtown Boston holds some of the components critical to an emerging companies success. First is access; the famed Red Line is what is most widely discussed. It provides that vital link from Harvard and MIT to the North while offering a stop at South Station, which is the largest commuter hub.

From our internal data, the Downtown Crossing Market offers the last great value option for tenants. This is being driven up by the lack of opportunities in the Seaport, Kendall and Back Bay.

According to bostinno.streetwise.co, “now that the rents are creeping upwards both around Kendall and Harvard Square and the Innovation District, entrepreneurs – and a few of the organizations that cater to them – seem to be settling in Downtown Boston.”

To read more about this trend, follow the link to Bostinno.

0 Boston Takes 3rd on List of Top Global Office Markets

Posted on December 5, 2013 by Wil Catlin

Credit: World Property Channel

Boston commercial office rents are expected to continue upward at an annual rate in excess of 10-percent through 2015. This puts Boston third on the international stage, behind Jakarta then Dublin.

According to a report on the World Property Channel forecasting global office market growth, “in the Americas, technology and energy continue to be main drivers for the U.S. real estate recovery, with Boston forecast for 22 percent increase in prime asking rents.”

The complete article is available on the WPC website: Top 10 Global Office Markets (Forecasted)

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 Fidelity Lab Division Tracks Technology and Patents, not Mutual Funds

Posted on November 10, 2013 by Wil Catlin

What happens within our downtown office buildings? Innovation, and not just by technology companies. Fidelity Investments is constantly providing new technology features to its customer base to allow faster, easier access to information.

The Boston Globe recently published an editorial on a division at Fidelity that examines patents and technology, rather than mutual funds or stocks.

“Fidelity’s Center for Applied Technology, home to a team of 75 employees globally who work on high-tech projects for the investment and brokerage giant. While most people at the Boston firm are devoted to managing money and selling retirement plans, this group is responsible for innovation, including technology that helps customers do business with Fidelity and get information about their investments…This department of Fidelity Investments celebrates new patents, instead of mutual fund records. Its giant wall screens display new technology for investors, not the daily movements of the stock market.”

Fidelity Investments Center for Applied Technology

Credit: Boston Globe

The complete editorial is available to Globe subscribers on BostonGlobe.com.