0 Horticultural Hall at 300 Massachusetts Ave. Sold

Huntington and Mass. Ave office building

Credit: Boston Globe

At the intersection of Huntington and Mass. Ave stands Horticultural Hall which will have a new owner, Marcus Partners. The building is 45,000-square feet and is scheduled for upgrades to the lobby and entrances.

According to the Boston Globe, “Horticultural Hall’s tenants include the Museum of Fine Arts’s William Morris Hunt Memorial Library, the New England Conservatory of Music, and the offices of Boston magazine.”

You can read more about the prospective updates to Horticultural Hall on the Boston Globe.

0 1000 Boylston Looks to Heighten Back Bay Silhouette

Back Bay office building on Boylston st.

Credit: Bisnow

Back Bay could be getting some more height at 1000 Boylston Street from Weiner Ventures.

From Bisnow:

The parcel is a block away from the 254-foot Hilton Back Bay and 360-foot Sheraton North Tower as well as the 756-foot Four Seasons Hotel and Private Residences under construction. The 52-story Prudential Center tower is two blocks down Boylston. The complex would be on four different parcels, three of which are Mass Pike air rights plots.

If completed, 1000 Boylston will feature 182 apartments and 160 condominiums above a six-story podium composed of retail and parking. Its prominent location near the intersection of Boylston and Massachusetts Avenue is particularly complex due to the limited amount of ground the tower has for foundation.

0 Boston: The Footwear Capital

Converse office space in Boston

Credit: The Daily Astorian

The roster of footwear brands with a headquarters or significant presence in Boston is vast and celebrated:

  • Converse
  • Reebok
  • New Balance
  • Converse
  • Wolverine
  • Saucony
  • Keds
  • Sperry
  • Rockport
  • Clarks
  • Puma

From The Daily Astorian:

“These companies cluster because they’re primarily looking for talent. You want to be where the people are,” said Matthew Powell, a sports industry analyst for the NPD Group, a New York-based market research firm. “They’re also trying to stay close to their consumer. Millennials are clustering in large cities, so it’s a great way to be plugged into where your consumer is.”

The moves also affirm New England – historically the nation’s footwear-making region – remains a viable center of the industry, said Nate Herman, a senior vice president at the American Apparel & Footwear Association trade group.

0 Seven Significant Boston Real Estate Projects slated for 2017

Boston real estate projects planned for 2017

Credit: Curbed

Seven new projects are scheduled to break ground in ’17 in Boston. Fears of a slowdown are not adopted by developers of Boston real estate.

Curbed, Boston outlines the 7 new projects slated for this year. Six of the properties are located in the Greater Boston area and one in Watertown, MA:

Boston

  • 171 Tremont Street
  • 700 Atlantic Ave
  • A St & Necco Ct
  • 660 Summer St
  • Dorchester Ave & Hancock St
  • Commonwealth Avenue & Brookline Ave

Watertown

  • 485 Arsenal St

0 Synergy Sells Two Class B Office Buildings in Boston for $75m

Class B office building in Boston

Credit: BBJ

Trades continue in Boston’s Class B sector with the sale of 99 Chauncy Street and 101 Summer Street to TIAA from Synergy Investments for $75 million.

A recent article on the BBJ’s website notes, “Synergy sold the historic assets for a combined $75 million to a unit of TIAA, a New York-based teachers’ union pension fund with $889 billion in assets under management, according to Suffolk County deeds. Synergy’s ownership partner in the properties was Indepencia PE, a Chile-based investment advisor. The $75 million sale price is four times the combined $18.7 million Synergy invested in 2010 and 2011 to acquire the properties.”

Additional details about the class B office building sales are available on the Boston Business Journal, here.

0 Boston Heliport will be Discussed at Mid-November Hearing

Boston has not had a heliport since 1999 and City councilors plan to hold a public hearing November 16th to discuss the topic.

Downtown Boston site for Helipad

Credit: Boston Herald

From the Boston Herald:

Boston city councilors will hold a public hearing Wednesday on plans to create a commercial heliport in the Hub after a call for more information by the councilor who helped ground plans for a similar site eight years ago.

City and state officials promised to create a commercial helipad as part of their $120 million incentive package to lure General Electric to Boston from Connecticut. But the project has stalled among concerns about corporate incentives and MassDOT budget concerns.

“Establishing a helipad would likely lead to an influx of helicopters to the area, which would impact noise, air pollution and safety concerns in our neighborhoods,” the order reads.

0 Developers Move to Luxury to Offset Escalating Labor Cost

Construction laborers work on an office building in Boston

Credit: Boston Business Journal

Due to the great recession we have fewer skilled labor working in the construction trade industry and as a result that cost has increased significantly. On a sampling of construction projects, the cost of labor could account for 40 – 60 percent of the overall project cost.

According to Bizjournals, “the result is a shortage in the supply of skilled labor in the building trades, a trend that’s enabled everyone from mechanical contractors to steel manufacturers to punch their ticket when it comes to selecting the most attractive jobs at the most competitive rates. That in turn is turbo-charging the cost of construction and, in turn, a preference among developers to favor big, luxury projects to better recoup their costs and lock in attractive returns.”

Additional information is available on the BBJ’s website.

0 Is this the end for Boston’s Famed Citgo sign?

Boston Fenway skyline

Credit: Boston Globe

Boston’s iconic Citgo sign might go dark after the building is sold.

From the Globe’s website:

As several prominent development companies angle to buy the nine-building package [Boston University is selling in Kenmore Square], they are weighing a delicate question: how to redevelop them — as any new owner would be likely to do — without blocking or moving the sign so it is no longer so visible from so many places around the city.

Moving the sign and replacing 660 Beacon with a taller building wouldn’t be difficult, said Arthur Krim, a faculty member at Boston Architectural College and the sign’s unofficial historian. But move it much, and the views would be altered forever.

“Sightlines would be skewed,” Krim said. “Anything above 15 stories and it’d be hard to see up there at all.”

0 Boston Ranks Fourth Among U.S. Cities in Jobs

Elevated view of Fenway office buildings

Credit: Boston Business Journal

Boston falls in the top 5 for best city for a job in the U.S.  Some of the hottest opportunities are: nurse practitioner, applications developer and sales development representative.

A recent report from Glassdoor “ranked Boston the fourth-best city in the U.S. for jobs. Last year, Boston was No. 15 on the list, sandwiched between Dallas-Fort Worth and Minneapolis-St. Paul…According to the report, there are 121,498 job openings in the Boston area with a median base salary of $67,500 and a median home value of $387,400. Some of the hottest jobs in Boston include nurse practitioner, applications developer and sales development representative.”

At the top of the list for best U.S. cities for jobs was San Jose, California (No. 1), followed by San Francisco (No. 2) and Seattle (No. 3). Washington, D.C. was No. 5 on the list.

0 BRA Wants the Lights Dimmed on Boston’s Seaport

Fan Pier in Boston across the water

Credit: B&T

How bright is too bright for Boston’s Seaport?  It appears that what has been proposed in the design phase is significantly dimmer than post construction and the regulators are rethinking approvals going forward.

From Banker&Tradesman:

The Vertex Pharmaceuticals headquarters’ “eye-catching arrays have met with mixed reviews in a city that often views changes in the skyline with suspicion.”

“Personally, I loathe the lighting on those buildings,” said Michael Davis, co-chair of the Boston Civic Design Commission. “We like interesting, progressive architecture, but subtlety is important and the new lighting we’re getting on the Fan Pier, no one would call subtle or sophisticated.”

Now, Boston Redevelopment Authority (BRA) officials are asking the developer to tone down the light show.