0 Condo Development Slated For Fan Pier

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.

0 Boston Foundation Secures Back Bay Office Space

The Boston Foundation Assumes Back Bay Office SpaceAnother Back Bay building achieves 100 percent occupancy.  420 Boylston Street executed a lease with The Boston Foundation for 8,412 square feet, bringing the current Back Bay vacancy rate to 4.5 percent.  This is broken down by 3.9 percent direct and .7 percent sublets.

According to Thomas Grillo, a Real Estate Editor at The Boston Business Journal, “The Boston Foundation has signed a lease for 8,412 square feet of office space at The Berkeley at 420 Boylston St. in Boston’s Back Bay.”

For the complete report, click through to the Boston Business Journal’s web site.

0 One Beacon Street Goes On The Market

Office Space at One Beacon St. Boston MaAnother Class A Financial District tower comes to market. As Class A rents continue to march up it is still a great market to be a tenant with vacancy rates hovering around 15 percent.

“Jim Cronin of Banker & Tradesman reported that “Beacon Capital Partners is trying to unload its One Beacon Street property, and [the publication’s] sources say the expected price will be in the neighborhood of $450 million.”

Jump over to Bank and Tradesman’s coverage for more information

0 Back Bay Continues to Lure Institutional Investors

christian science plaze on huntington aveThe Back Bay office markets continues to attract strong institutional investors.  Beacon Capital has paid $295.00 PSF for a 99 year ground lease for the tower at Christian Science Plaza.

The Boston Business Journal reports that an affiliate of Boston-based Beacon Capital Partners signed a 99-year ground lease to oversee the iconic tower in Christian Science Plaza.

Further details on the commercial lease are available on the Boston Business Journal’s web site.

0 Zipcar Snaps Up Former Thomson Reuters Office Space

office_space_fortpoint_bostonThe Seaport continues to attract tenants with vacancy just below 5 percent.  Zipcar will be expanding its footprint by taking 45,000 square feet that Thompson will be vacating.

Banker & Tradesman staff writer, Jim Cronin, reports that “Zipcar will likely fill about 45,000 square feet of space that Thomson Reuters is expected to vacate at Thomson Place in Boston’s Fort Point neighborhood in 2014.”

Click through to Banker & Tradesman for the complete report.

0 A Brief History of Boston’s North End

office space for lease in north end bostonBoston’s North End has a unique flavor that is distinctly Italian. “Little Italy” features narrow cobblestone street, small boutiques, fabulous restaurants, and delicious pastry shoppes. On the weekends, tourists and locals alike flood the streets. The North End is a neighborhood with a history as rich as the filling of a cannoli.

1600s
•    Boston’s oldest neighborhood was established in the mid-1600’s. By 1646, the area had a population large enough to call for it’s own church, the North Meeting House.
•    The original residents of the North End were Puritans, as well as slaves from New Guinea.
•    During the 17th century, the North End was home to Boston’s first food markets, as well as mills that converted food to storable grains and wood for construction of homes and ships.

1700s
•    Old North Church is constructed in 1723 – the oldest church building in Boston proper.
•    Merchants & Robust Economy – The 18th century brought bustling trade for merchants in ship building. A bustling economy fueled by shipbuilding and trade. Imports, including sugar, fruits, coffee, tea, and wool. in turn these ships brought merchants importation of worldly goods such as sugar, fruits, coffee, tea, wool, etc. essential items for everyday existence. The artisans of the time were expanding their skills in gold and silver-smithing, copper production, and iron and steel bell casting.
•    These merchants settled in the North End in the late 1700s, building mansions and developing the area into a desirable residential neighborhood.

Continue reading

0 Digital Lumens Moving to Innovation District

office space on congress street bostonThe Innovation continues to attract tenants, but with prices pushing $40 PSF some are seeking the value play with the 15 percent vacancy rate of the Financial District.

Kyle Alspach, VC Editor at the Boston Business Journal, reports the “LED lighting system firm Digital Lumens announced Wednesday that it has relocated to a 16,000-square-foot office at 374 Congress St. The office is double the size of the firm’s previous office at 110 Canal St., near the TD Garden.”

Read the complete report on the Boston Business Journal.

0 Post Office Square Transformation Approaching

Commercial Property Post Office Square BostonThe long awaited transformation of 50 Post Office Square has moved closer with a letter of intent being executed by Brown Brothers for 300,000 RSF.  Currently the 18 story Class A building is offering 424,297 RSF for lease on 7th  through 18th floors with floors plates just over 53,000 RSF.

“The non-binding commitment at the regional headquarters for Verizon Corp. follows months of considering alternatives in the area for a venerable financial services firm whose lease at nearby 50 Milk St. expires next autumn.”

Jump over to therealreporter.com for the full report.

0 Celeb Chef Ming Tsai Looks to South Boston

Commercial Real Estate in South BostonBlue Ginger has been a mainstay in Wellesley for 14 years and consistently delivering East-West cuisine to their lunch and dinner guests. The addition of Blue Dragon — a new restaurant from Ming Tsai — in the Seaport will be a welcome selection for the business occupying the 31M RSF of office space within a .5 mile radius of 324 A Street.

The Boston Herald reports, “the host of PBS’ “Simply Ming” TV cooking show is slated to soon meet with the neighborhood about an eatery at 324 A St., site of the long-closed A Street Deli.”

Read more about Ming Tsai’s South Boston restaurant.

0 eBay Closing In On Lease at Boston’s International Place

Office Space in Boston's Financial DistricteBay is settling in on one of the Financial Districts 16 buildings that currently have more than 60K RSF of contiguous space according to CoStar.  Vacancy within the Financial District is running just below 15 percent with opportunities in the low to mid rise space within the Class A inventory and the entire Class B market.

The Boston Business Journal offers some perspective on the transaction, noting “the lease would be one of the largest on record this year for the Downtown market and would mark a significant win for The Chiofaro Co., the International Place’s developer and current leasing manager.”

For more information, we recommend reading the Boston Business Journal’s full report.