Category Archives: Boston Office Space

0 40 Broad St. for Sale

Posted on by
40 Broad Street office building

Photo Credit: Boston Business Journal via Jones Lang LaSalle

The Class B market continues to see assets brought to the sales market. 40 Broad Street, is the latest; it last traded in 2006 for $174.84 PSF and we will see how the market receives it today.

According to a report by Thomas Grillo on the BBJ, “Pearlmark bought the building from Prudential Real Estate Investors in 2006 for $50 million. Brokers say the sale could fetch twice that.”

Details on the property are available on the Boston Business Journal.

0 Leasing Agreement and Construction Activity at Filene’s Site

Posted on by
Construction site at Filene's in downtown Boston

Photo Credit: Boston Globe

The stock market recently closed at levels just above the market high of December 2007, which points to our national recovery. Locally, the hole in the ground — formerly known as Filene’s in Downtown Crossing — should soon be filled in, as our economy continues to grow out of the hole created in 2008.

The Boston Globe notes the importance of the hub landmark, “the Filene’s redevelopment is crucial to the broader campaign of revitalizing downtown Boston and its shopping district. Positioned at the center of Downtown Crossing, it would bring an influx of new residents and stores to an area that has just begun to shrug off a reputation as a ­second-rate retail destination.”

Jump over to the Boston Globe for more information on the impending leasing agreement and restart of construction at Filene’s. Alternatively, click through to view office space for lease in the downtown area.

0 131 Clarendon Street Renovation Complete

Posted on by
131 Clarendon St. Boston

Photo Credit: Banker & Tradesman

Brookline Bank’s newest location at 131 Clarendon Street is open for business. The building is now 100 percent leased in an office market with near record low vacancies.

Additional details on the Back Bay restoration project can be found in Banker & Tradesman’s complete coverage.

Related Commercial Real Estate Listings
Back Bay Office Space

0 800,000 SF of Christian Science Plaza Development Rights Sold

Posted on by
Exterior of Christian Science Plaza on Huntington Ave

Photo Credit: Wikipedia

The Back Bay skyline is poised to change with the addition of 800,000 SF, mixed use project by Carpenter & Company at the Christian Science Plaza on Huntington Avenue. The Back Bay office market continues to be one of the tightest with vacancy rates ending 2012 just below 5.8% and Class A rents nearly $56.00 PSF.

An article on The Real Reporter notes “the 800,000 sf that can be produced on the two sites could be in the $650 million range and would in one expert’s view “be perfect” for a hospitality use or mixed-use project similar to the Charles River Hotel across the river in Harvard Square.”

Additional details about the project are available on The Real Reporter’s website.

0 Law Firm, Goodwin Procter, Moves Offices to Boston Waterfront

Posted on by
Boston waterfront office space at fan pier

Photo: Original image Boston Business Journal; Illustration by BRA

Why do companies go through all the trouble of moving?  Many reasons, but that two that stand out are the opportunity to design space that reflects the company’s vision today, and the second is economics.

The design of office space today, compared with 10 years ago, show an evolution to more efficient layouts that incorporate green technology. The financial side is comprised of many factors that can range from rent abatement, tenant improvement dollars, base year expenses and the price per square foot.

The Boston Business Journal on December 21, 2012, reported that “Goodwin Procter signed a letter of intent this week to lease 360,000 square feet in an office building to be built next to the Institute of Contemporary Art in on the South Boston waterfront that Mayor Thomas M. Menino has dubbed the Innovation District. The firm would move 860 attorneys and support staffers to the new building, which would also include a 135-room hotel and retail space.”

The complete article, Goodwin Procter to Waterfront, is available on the Boston Business Journal’s website.

Related Commercial Listings
Office space for lease near the Boston Waterfront

0 11 Beacon Street, Class B Office Space in Boston Trading Hands

Posted on by

Office building at 11 Beacon Street in Boston, MAAnother Class B Financial District assets is said to trade hands; 11 Beacon is reported to go the Synergy Investments. The Class B market continues to see trades along with increasing rents; currently B product is pricing in the upper $20’s too low to mid $30’s depending on location and improvement package. According to CoStar the vacancy rate for Class B in the Financial District is 11.9 percent as of 12/31/12.

This pdf created by TheRealReporter.com offers details on the Class B office transactions.

0 ‘Vibrant’ Retail Plaza Considered in Post Office Square

Posted on by
Plaza at 100 federal st in boston's financial district

Photo Credit: John Tlumacki via Boston Globe/Boston.com

Boston Properties is mulling options on how to integrate retail amenities and a host of restaurants into the tremendous presence in the Financial District, at 100 Federal Street.

Boston Globe writer, Casey Ross, wrote on Boston.com, “the project at 100 Federal St. is still in its preliminary stages. But owner Boston Properties Inc. is seeking to create a more vibrant gathering space by adding new retail offerings at the base of the tower, which stands across from Post Office Square Park…The company is weighing several different options, including enclosing a portion of the plaza in a glass structure for restaurants and food-oriented retail businesses.”

Complete details of the potential Financial District renovations are covered on Boston.com via BostonGlobe.com.

Related Office Space
Commercial Real Estate for Lease in Boston’s Financial District

0 Melcher Street Grows into Hub

Posted on by
Offices on Melcher Street in Boston named 'M Block'

Photo Credit: Stuart Cahill for the Boston Herald

The Seaport District continues to evolve with a new micro market on Melcher Street, designated as “M Block.”  This is a combination of residential, office and retail on what was once a cut through.  Now it will be a destination location accommodating todays changing lifestyle that is mirrored Meatpacking District in New York.

Office rents for Class B space have jumped to the low $40’s PSF with very few available options.

According to a report by Donna Goodison of the Boston Herald, “a new campaign branding it as the “M Block” is designed to draw attention to the restaurant, office and residential projects bringing new life to the street of former warehouse buildings probably best known for the old elevated pedestrian bridge that stretches above it.”

Follow the link for more information on the development of Boston’s M Block.

0 Synergy Buying Boston’s 2 Oliver St.; Deal Listed by C&W Tops $50M

Posted on by
Office building at 2 Oliver St boston ma

Photo Credit: New England Real Estate Journal

The trades in the Class B market continue; Synergy Investments add 2 Oliver Street to its portfolio.  2 Oliver is a great opportunity for Class B tenants that are in the 10K – 20K range to capitalize on competitive pricing combined with a great location.  With over 50K square feet available there are plenty of great options.

According to details published on The Real Reporter, “the 11-story, 223,000-sf office building is an exclusive listing of Cushman & Wakefield on behalf of a local partnership between AEW Capital and Saracen Investments. Sources spoken to peg pricing in excess of $50 million, exceeding industry projections made when put up for sale to open the fourth quarter.”

Jump over to therealreporter.com for more information.

0 Boston Building Growth Strong in 2012

Posted on by

office building in downtown bostonYes, our city as we know it is changing and by that, I mean growing. With 22 developments starting in 2012 we can expect to see 2,500 construction workers taking to the streets to build new offices and homes. So, take time to let them in our out of traffic so our city can continue to grow and prosper.

A report in Banker and Tradesman notes that “in 2012, projects broke ground in Allston/Brighton, Charlestown, Chinatown, the Innovation District, Jamaica Plain, the Longwood Medical Area, Mattapan, Roxbury and South Boston. These projects have housing, hotel, athletic, municipal, office and retail uses.”

Related Office Space
Available Commercial Real Estate in Boston