Category Archives: Boston Office Space

0 MFS Moves Corporate Headquarters to 111 Huntington Avenue

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111 Huntington Ave. Office Building

Photo Credit: Wikipedia
111 Huntington Ave.

As the market tightens, companies like MFS have found a new home, moving from 500 Boylston Street to 111 Huntington Avenue. MFS’ new corporate headquarters boasts a LEED Gold certification as well.

The move is part of a larger migration for MFS. A report in Banker & Tradesman notes, “earlier this year, MFS relaunched its corporate brand identity, launched its first-ever global advertising campaign and opened new offices in São Paulo, Hong Kong and Sydney.” Click through to read Banker & Tradesman’s coverage.

0 Arnold Worldwide Considers Relocation To Filene’s Building in Downtown Crossing

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Filenes in downtown crossing boston

Photo Credit: Banker & Tradesman

Will they or won’t they? If Arnold Worldwide takes the plunge, it would be great move for the community; bringing a large workforce to the once famed Burnham building that has been vacant for years. With market rents in the Financial District hovering about 15 – 20 percent below Back Bay, this could create an interesting domino effect.

According to an article on Banker & Tradesman, “a marquee anchor tenant like Arnold for the property known as the Burnham building could be the golden ticket project developer Millennium Partners needs to secure financing and start construction of a 625-foot, 600-unit residential skyscraper adjacent to the Burnham.”

0 Battery Ventures Moving to Boston’s Seaport District

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Seaport Office BuildingThe word is the Seaport office market is very tight, but not too tight for Battery Ventures.  Companies continue to migrate into the city to capitalize on a vibrant workforce.  Younger employees seem to want to be located within the city so they can take advantage of the many new residential communities and expanding list of restaurants.

According to the Boston Business Journal, Batter Ventures “is negotiating a lease at One Marina Park Drive, a building owned by The Fallon Co. that also houses the MassChallenge startup accelerator. The firm expects to move into the building in late 2013.”

For more information, continue reading the BBJ’s coverage, here.

Related Commercial Real Estate
Seaport Office Space for Lease

0 Boston Address A Strong Lure for Prospective Employees

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Boston Office Building for RentTenants continue to migrate downtown from neighboring submarkets as well as the suburbs. Downtown rents offer a great value combined with a strong talent pool and great area amenities. Employers are finding that a Boston address has become what today’s prospective employee values when seeking out  job opportunities.

Available Downtown Office Space
Boston Commercial Real Estate Listings

0 Despite Opposing Reports, Financial District Continues to Attract Tenants

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Office space in the financial district, bostonThe Financial District is not emptying out, but rather attracting tenants. The market is strong and with the lack of demand of available options in neighboring markets the Financial District is poised to see an influx of new companies.

Despite an article on the Boston Business Journal posing the question, “is Boston’s Financial District emptying out”, we continue to see evidence to the contrary.

Vacant Office Space Listings
Boston Financial District

0 Declining Vacancy Rate and Abundant Renovations Mark Active Financial District

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office building at 185 franklin st in boston financial district

185 Franklin Street
(Credit: Boston Business Journal)

99 High Street and 185 Franklin Street in Boston Financial District are among Boston’s newest interior renovations. Class A assets go through lobby upgrades about every 10 – 15 years to stay current and continue to attract and retain tenants. The Financial District has a current vacancy rate of about 14.7 percent and dropping due to strong demand and few options in surrounding markets.

Click through to view a list of available office space in the Boston Financial District

0 DivcoWest Purchases Four Buildings in Boston’s Seaport District

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Divco WestDivcoWest adds four buildings to its Boston assets with a combined size in excess of 3 million square feet.

According to a report in Banker & Tradesman, “the properties were acquired for DivcoWest Fund III, an $870 million fund raised last year. The properties were purchased from a fund controlled by New York-based Brickman Real Estate. Terms of the transaction were not disclosed. The acquisition brings DivcoWest’s total holdings in the Boston Area to more than 3 million square feet of commercial property assets.”

Click through to read the full editorial on Banker & Tradesman’s web site.

0 New York Investor Pay $27M for 19k SF Building in Back Bay

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Office Space on Newbury street

Photo Credit: Banker & Tradesman

New Yorker’s appetite for our sports teams may not be as strong as our Real Estate. Newbury Street is expected to see a trade in excess of $1,400 per square foot.

According to a report in Banker & Tradesman, the “investor is expected to pay about $27 million for a 19,041-square-foot retail building in Boston’s Back Bay.”

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 Iron Mountain Moving to the Financial District

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Iron Mountain data storage company logoIron Mountain, an information and data storage company, recently signed an 11-year lease to situate its headquarters at One Federal Street. This is another indication that the Financial District remains a strong value play among neighboring submarkets — like the Seaport and Back Bay — with vacancy rates just below 14.9 percent.

Click through to view available office space in the Financial District