Category Archives: Boston Office Space

0 Boston Office Rents Climbing

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101 Arch street office building in Boston's financial district

Office Building at 101 Arch St, Boston

The Boston office market continues to see a reduction in vacancy alongside increased pricing.

A Boston Business Journal article specifies, “every Boston submarket with the exception of the Back Bay saw the vacancy rate fall as tenants leased 1.2 million square feet of office space from January through March with 354,457 square feet getting absorbed. Citywide, the overall vacancy rate dropped to 10.3 percent in the first quarter, down from 12.6 percent a year ago.”

For additional details and submarket specifics, head over to the BBJ online.

Related Commercial Real Estate Listings
Boston Office Space Available for Rent

0 Boston Seaport Maintains Broad Appeal

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Office in Boston's Seaport district at 2 seaport laneThe Seaport continues to attract tenants and residents as well as investors that want to partake in one of Boston fastest growing markets.

Biznow interviews various tenants and investors to get their direct take on the transformation of the Seaport and Innovation District. You can also jump over to our submarket overview of the Boston Seaport for more information on what the neighborhood offers local businesses.

Relevant Office Space Listings
Commercial Real Estate for Lease in Boston’s Seaport

0 ‘Life is Good’ Moving from Back Bay to Fort Point

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Office building in fort point bostonLife really is good in the Fort Point and Seaport District! The influx of amenities and direct access to transportation had led the area to become a destination location for many office tenants. Vacancy rates have decreased and rents have risen, but employers along with employees love the vibrant atmosphere the area has to offer.

An editorial on the Boston Business Journal covering the relocation of the apparel company, Life is good, notes that the company is “taking 22,000 square feet in a renovated industrial building at 51 Melcher St. – space for about 70 workers.”

The BBJ coverage also expands upon the company’s expectations of Fort Point neighborhood.

0 Back Bay Building Purchased by Fisher College for $12M

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Back Bay building on Arlington St in Boston

Photo Credit: Boston Business Journal

 

Another office building trade has occurred in Back Bay. This sale falls outside of what we have seen in the recent past by investors, this in an owner occupant as well as an expanding college.

The Boston Business Journal reports that Fisher College has purchased 10-11 Arlington St. for $11.7 million. The article contends the building “will be able to provide offices for faculty and staff, as well as additional services and resources to its students.”

For more information on the specifics of the purchase of 10-11 Arlington Street, follow this link to the Boston Business Journal.

0 Is One Lincoln Street Stagnation a Sign of Larger Trend?

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State Street Financial Center at 1 lincoln

Photo Credit: Boston Business Journal

The office market is in the midst of an upswing as it pertains to rents, but from the value side, buyers are cautious. Have we peaked or is there more to come?

The Boston Business Journal article reported on the relative stagnation, noting that “twenty months after One Lincoln Street ­— also known as the State Street Financial Center — was put up for sale, the skyscraper remains on the market for $1.15 billion.”

Follow the link to read more about One Lincoln Street.

0 Former Jae’s Restaurant in Boston’s Theatre District Set for Demolition

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Office_building_ 212_Stuart_Street

Photo Credit: Boston Business Journal

The street scape continues to change with the scheduled demolition of 212 Stuart Street. The Back Bay office vacancy rate is at a record low at just under 5 percent, will the ownership push for office or residential?

A Boston Business Journal article quotes the Bay Village Neighborhood Association, stating, “nearly four years after the Boston Redevelopment Authority approved conversion of the shuttered Jae’s restaurant into a 10-story office building in Boston’s Theater District, the property is on track to be demolished.”

Jump over to the BBJ online to read the full report.

0 Back Bay Restoration Hardware Seeks Beer/Wine License

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234 Berkley Street location for Restoration Hardware

Photo Credit: Boston Business Journal

The scaffolding has been taken down and Restoration Hardware is scheduled to open its new Back Bay location next month at 234 Berkley Street.  Having vacated 711 Boylston Street a number of years ago, Restoration Hardware  is looking to not only sell sheets, towels and hardware, but the Back Bay location also hopes to offer beer and wine as part of their café.

The Boston Business Journal reports that “the California-based retailer will go before the Boston Licensing Board on Wednesday seeking a beer and wine license for a proposed 118-seat restaurant on three levels. Located in the 19th-century Boston building that once housed the New England Museum of Natural History and LouisBoston, the store is set to open next month.”

To read more about the Back Bay Restoration Hardware’s push for a beer and wine license, continue on to the Boston Business Journal. Alternatively, click through to view available property for lease in the Back Back.

0 Fidelity’s Financial District Office Space On the Market

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office building at 82 Devonshire street in the financial district in Boston

Photo Credit: affordablehousinginstitute.org

82 Devonshire St. in an iconic address in Boston as well as money managements circles worldwide.  As I was walking past the building yesterday and client of mine commented on how he used to make sales calls there many years ago, I replied, I did as well.  Many decisions have been made there that have guided Fidelity to the beacon of success that it is known as today. In the near future the ownership will change along with the occupants.

A Boston Business Journal article notes that the investment company, “has reportedly hired a real estate broker to market its former headquarters at 82 Devonshire St. in Boston’s Financial District for sale or lease.”

More details can be found on the BBJ, here.

0 Boston Offices Susceptible to Major Flooding?

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250 summer street in south bostonShould you worry about where your next office is located in Boston? Well, I would say no, but a Boston Business Journal editorial provides some real insight into what could happen on an extreme level. The real interesting piece of this is where do groups put data centers. Safe to say data centers are located outside these possible effect areas.

The complete BBJ article explores the plausibility that a “Sandy-strength storm could put nearly 7 percent of Boston underwater.”

0 Boston Commercial Real Estate Market Starts 2013 Strong

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Office building at 1 Financial Center in Boston massThe office market is strong within greater Boston and hasn’t this active with positive rent growth and absorption since 2007.  This is due to a couple of components; flight to quality, migration to Boston from suburban markets, new companies entering the market and companies within Boston expanding.

The Boston Business Journal notes, the strength of the market; “greater Boston’s office market achieved more than 2.8 million square feet of positive absorption last year, the strongest showing since 2007”

Specific areas of growth in the Boston office market are detailed on the Boston Business Journal’s article, here. Alternatively, follow the link to preview available office space for lease in Boston.