0 The Right Time to Move into a Larger Office Space

small office space

Credit: Grrouchie.com

Simply put, you know when your business should move into a more formidable space when your business demands it.  This might mean annual cost or it might mean image, either way understand what is important to your organization and what amenities are necessary; cost is not always the driver.

Entrepreneur.com offers some general guidance for Boston businesses on the move:

“First, you’ll need to interview several real-estate brokers who have experience in the area where you’d like to rent. Second, identify exactly how much space you’ll need now and in the near future. Factor in growth, but be realistic in your estimate and don’t take on much more space than you need. Then you and the broker can begin looking for spaces that meet your space requirements, budget, location and office layout. Once you find a space you’d like to lease, then you should hire a real-estate attorney to review the agreement.”

0 Office Trends Among Boston Law Firms

interior of Boston law office

Credit: Cannon Design

Boston, compared to our peers, has some of the most efficient lawyers. Boston law firms only occupy about 10 percent of the high end, Class A, real estate in the city.  Other cities those numbers range from 25 percent to 42 percent.

The BBJ has strewn together a ‘snapshot of office space trends’ among Boston law firms. The article remarks of the office environment in Boston, noting “legal employment is still down about 2,600 jobs from pre-recession numbers.”

The full article, containing a list of law firm office trends in Boston, is available on the Boston Business Journal’s website.

0 Boston Office Towers Experiencing Strong Leasing Activity

Internation place in Boston

One International Place in Boston

Some of Boston’s largest office towers have experienced strong leasing activity in either attracting new tenants or renewing their existing ones.  Some building highlight are the following commercial spaces:

·         One Financial Center – Owned by Beacon Capital
·         One Federal Street – Owned by Tishman Speyer
·         International Place – Owned by The Chiofaro Company
·         John Hancock, 200 Clarendon Street – Owned by Boston Properties

“A Boston Business Journal analysis of some of the largest towers in the city shows that many are enjoying their highest occupancy rates in years, although the good times haven’t come easy. Financial filings indicate these landlords have been working on overdrive to keep their properties filled, with many having to thread some impressive needles in order to head off or counter major lease expirations before they bite.”

You can view the BBJ’s status update “based on recent loan-servicer filings, on some of the biggest office properties in Boston’s downtown market,” here.