Category Archives: Boston Office Space

0 Boston Realty Advisors Exclusively Retained to Lease 360 Newbury St. in Back Bay

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Back bay commercial space at 360 Newbury St. in Boston

360 Newbury Street

Looking for cool creative office space at the gateway to Boston? Check out 360 Newbury St. in Boston’s Back Bay.

From BostonSF.com:

Boston Realty Advisors (BRA) announced that it has been exclusively retained to lease 360 Newbury Street, offering 40,640 square feet over three levels. In addition to excellent Mass Pike visibility and a unique architectural dynamic – penned by famed architect Frank Gehry — this iconic stalwart of the Boston skyline maintains flexibility for tenants with a variety of square footage requirements. 360 Newbury Street presents an unsurpassed opportunity in the market. Commanding an unrivaled presence in the Back Bay.

360 Newbury Street Property Brochure

360 Newbury Street Floor Plan

 

Back bay office space at 360 Newbury Street

0 Former Dunkin’ Donuts Location in Financial District Lands New Occupants

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Commercial space for rent at 176 Federal Street in Boston

Credit: chartercm

A recent instance of this trend is evident in the move of Pret A Manger made to snag the 2,000 sq. ft. space in the Financial District, formerly occupied by Dunkin’ Donuts.

The BBJ reported on the new occupants of 176 Federal St. in the Financial District, noting it may be just the first of many similar moves for the London-based eatery, “Pret A Manger has been looking to expand in Greater Boston with plans to open a dozen cafes over the next five years. James O’Mara, an attorney representing the eatery, said Pret A Manger will be opening a shop as early as this spring at 101 Arch St. in Boston’s Downtown Crossing at the former Men’s Wearhouse.”

Additional information on the location at 176 Federal Street is available on the Boston Business Journal.

0 Boutique co-working space opens in Back Bay

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More co-working office space is now available in Boston for upstart companies to choose from. Not too sure if you can make a long term lease commitment? Idea Space at 867 Boylston Street is the newest to jump in to this evolving market. Their niche: boutique co-working space.

Co-working space in Boston's Back Bay

Idea Space in Boston

According to coverage on the BBJ, “the 4,500-square-foot space is home to about 25 small companies.” Idea Space owner, Lauren Mearn, notes the impetus for opening the co-working space in Back Bay in the BBJ article:

“people want ‘a cool place to work that wasn’t a coffee shop and that wasn’t home'”

The full article on the Boston Business Journal is available, here.

0 Commercial Development in Boston is Strongest in Years

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office tower in Boston on Boylston Street

Credit: The Real Reporter

Office development within Boston is at its strongest in years, some might even say ever.  Most of what we are seeing is large residential projects, but Boylston Street continues to evolve with 888 Boylston St. breaking ground this spring, which will add to the 3.2 million square feet of office space that’s part of the Prudential complex.

The BBJ, reporting on a panel discussion hosted by NAIOP, printed the following:

The group agreed that a perfect storm led by the Big Dig’s completion, a growing population, a flood of Baby Boomers who want to return to the city, lower unemployment and a rush of foreign capital is lending to the city’s multibillion-dollar development pipeline.

“We are seeing an unprecedented amount of development going on all around in the city … and many of these projects are very large, complicated developments that we haven’t seen in 20, 25 years,” said Raiz Cassum, the event’s moderator and a senior managing director at HFF. “

The full article is available on the Boston Business Journal.

0 Parking App SpotHero Eyes Boston Market

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parking meters in Boston

Credit: Boston.com

As our working population grows, so does our parking demand. In Back Bay, a month parking pass at the Prudential has increased from $445 to $460, while Copley has risen from $320 to $360. SpotHero is trying to help those that are looking for spots.

“SpotHero, which partners with large parking lots and parking and valet garages around the city to offer users thousands of parking spots to choose from, plans to also expand to other neighborhoods in the greater Boston area this year…’Boston is a key market for us that we’re going to put a lot of time into, and that starts with getting inventory in the downtown area and expanding it from there,’ SpotHero co-founder and COO Jeremy Smith remarked to the Boston Business Journal.

The full BBJ article is available, here.

0 Boston Companies Migrating from Suburbs to Downtown

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Five Hundred Boylston St. in Boston's Back Bay

Credit: Boston Business Journal

Companies continue to look to relocate downtown from outside the city, when they wish to attract younger technology talent. The profile of the new recruit is car-less and prefers walking or public transportation as their primary means of transportation.

A recent example of this migration is VMTurbo. The cloud technology company is moving from Burlington to 500 Boylston St. in the Back Bay.
The BBJ spoke with an HR executive at VMTurbo, and posted the following quote, indicative of the city-bound migration:

“Most of the employees that we hire are not people who own cars for the most part — they use the T,” [human resources executive Veronica] Curran said.

The full article on VMTurbo’s move to Boston’s Back Bay is available on the Boston Business Journal.

0 How Startups Pick their Hometowns

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View of skyline

Credit: BBJ

Frequently when I meet with young companies their initial request is, what will it cost?  My reply is usually is, “ If it was free and the perfect configuration, but in Western Massachusetts, would you take it?”  The reply, “No.”

Companies that are in growth mode care about access to qualified potential employees. In the Boston market we see many companies prefer to be within the city core as opposed to be outside the city for that simple reason. The younger workforce doesn’t own or doesn’t want their commute to involve an automobile.

According to a research report on the Boston Business Journal, here’s are the three aspects that entrepreneurs say actually did sell them on their hometowns:

1. Population & talent

2. Livability

3. Strong area supply chains

The full BBJ article is available, here.

0 Billion-Dollar Sale includes two Buildings on Fan Pier

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Office building in Fan Pier, Boston

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 TD Towers Seeks to Elevate Boston Skyline

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Is the TD Towers too tall for the neighborhood? Well, yes and no, Boston is growing and new projects need height to make them work. The low-rise buildings that were constructed during the early part of the last century are a thing of the past.

Boston TD Towers

Credit: Boston Magazine

Boston Magazine recently reported on a controversy surrounding the proposed size of TD Towers, noting “the project opens the door to many more like it, which would turn the West End into another skyscraper orchard. It’s not hard to see where they’re coming from. When you compare the project with towers elsewhere in Boston, it fits right in. But as you can see above, it will dwarf its neighbors in the West End.”

The full Boston Magazine article can be found, here.

0 Fenway Center Banking on Tax Break

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Fenway Center in Boston

Credit: The Boston Globe

Will the new mayor offer concessions where Menino wouldn’t?  Fenway Center is an aggressive project that bridges the Turnpike between Fenway and Kenmore.  Over the years, projects like this have fallen short due to the cost of construction and the inability to secure appropriate financing.

According to The Boston Globe, the developer of Fenway Center is asking for a significant tax break for the new project:

In a last-ditch effort to save one of the city’s largest construction projects, developer John Rosenthal is asking Boston Mayor Martin J. Walsh’s administration for a $7.8 million tax break to help build a massive complex of buildings near Fenway Park…“John’s a good man and I know he’s been working on this project for a long time,” Walsh said in a recent interview with The Boston Globe. “We’re going to look at [his proposal] and do what’s best for the city.”

The full article is available to online subscribers of The Boston Globe.