Category Archives: Boston Investment Properties

0 Law Firms Disperse Work to Remote Areas

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How are large law firms saving money in today’s global economy?  Well, moving back office jobs to less expensive domestic locations.

The Boston Business Journal reported the following information, this morning:

When it opens next spring, Bingham McCutchen’s shared-services center in Lexington, Ky., is expected to spark a flood of law firms to move back-office jobs to less expensive locations in an effort to slash costs and pass savings on to clients.

A handful of Boston law firms have already shifted so-called back-office jobs — such as finance, human resources and information technology positions — into one office. Those firms include WilmerHale and Nixon Peabody. The shifting of those jobs is part of the ongoing transformation of law firms, which have been trying to slash overhead and become more efficient after the Great Recession caused a drastic slowdown in legal services.

To read more on the transition to remote areas, real the Boston Business Journal’s Real Estate blog.

 

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 Boston Commercial Real Estate Sales On the Rise

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offices in east cambridge, maThe market has over $1.2 billion dollars in commercial real estate sales activity that is expected to change hands by the end of the year.  The opportunities include; Financial District Class A office tower, Seaport Class B office portfolio, Lab Space in East Cambridge and many more.

A report in Banker and Tradesmen notes that “several properties around Boston and Cambridge are expected to potentially change hands before the end of the year as brokers and buyers get back to work.”

Click here for the full article.

Related Property Listings:
Commercial Real Estate in Boston
Office Space in Cambridge

0 Back Bay Office Construction Stagnant Despite Low Vacancy Rates

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Helicopter view of commercial properties in Boston's Back Bay.The Back Bay office market seems to be to pushing north of pre-cash pricing and vacancy rates, but there is still concern for construction of spec office buildings.

“Despite a single-digit vacancy rate in Boston’s Back Bay offices, two major developments remain idle, waiting for better market conditions,” a Boston Business Journal report notes.

The editorial on the Boston Business Journal web site, offers specifics on vacancies in the Back Bay real estate market, along with information on the delayed office developments.

Related Commercial Real Estate Listings:
Back Bay Office Space

0 Transition from Private Offices to Open Plans on State Street

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financial district office space, 60 state street, bostonThe migration away from private offices to open plan layouts is in full swing from tech startups to mutual fund companies.  Pioneer Investments at 60 State Street has captured this in their recent renovation of 100,000 square foot renewal.

According to a report from the Boston division of CityBizList.com, “MPA [Margulies Perruzzi Architects] substantially updated the office design and additional support space consisting of five floors at Pioneer’s Boston office located at 60 State Street.”

For more information on the development, read the complete report detailing MPA’s update on the office space at 60 State Street.

0 Offices in Boston’s Financial District to Neighbor Les Zygomates’ Eatery

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Office Space in Boston's Financial District Overlooking the WaterNew eats on High Street; Ian Just of Sorriso and Les Zygomates of South Street will open Society at 99 High Street sometime in November.

Thomas Grillo of the Boston Business Journal reported today that “Ian Just, chef-owner of Les Zygomates and Sorriso in the Leather District, is planning his newest venture: Society on High in Boston’s Financial District…Under construction at 99 High Street, the restaurant will feature 140 inside seats with another 60 in an outdoor plaza. The 5,500-square-foot space is being designed by Peter Niemitz, and includes dark cream, red and black colors.”

Continue reading the complete BBJ editorial.

Related Office Listings

Offices in Boston’s Financial District


0 Boston Seaport Office Rentals: Prices Continue to Rise, Vacancy At Record Low

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Office building in Boston Seaport district at nightAnother Seaport portfolio is poised for the market with rents now of $40 PSF and vacancy at a record low.

Banker & Tradesman is reporting that, “in response to rising rents and hot investor activity, National Development is attempting to unload a six-building portfolio in Boston’s Fort Point district…The assets, totaling more than 407,000 square feet of office space, are in the so-called Innovation District, where some rents have jumped significantly over the last year, more than five percent in some places.”

For the full report, continue reading Banker & Tradesman’s complete coverage.

Related Property Listings

Office Space in Boston Seaport

0 Commercial Buildings in Boston Harbor Face Height Limits

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boston waterfront office space building at nightHow high will Boston rise above the waterfront?  That is the question for soon to be hired $300,000 consultant by The Boston Redevelopment Authority.

Reporting on the development study, The Boston Herald cautioned that “downtown waterfront property owners face a wave of scrutiny as Hub planners launch a lengthy study that will influence their development ambitions and outline potential public benefits.”

For additional details on the study, read the full report on The Boston Herald.

Related Property Listings
Office Space in Boston’s Waterfront District

Boston Commercial Real Estate

 

0 Condo Development Slated For Fan Pier

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Condos_developed_on_boston_waterfront_fan_pierThe Seaport continues its strong construction growth by introducing new condominiums. Vertex’s two new office buildings will come online by the end of 2013, bringing the need of more amenities to the ever-expanding workforce.

According to an article in The Boston Globe online, the “developer of the massive Fan Pier complex in Boston’s Seaport District is planning to build one of the city’s first new condominium buildings since 2009, a sign of an improving housing market and the success of the burgeoning waterfront.”

The Boston Globe’s complete article expands on the project and the rebounding waterfront area.