0 400-foot Towers Proposed at Boston Garden

Posted on January 18, 2013 by Wil Catlin

Construction at the site of the old Boston Garden

Credit: The Boston Globe

The Boston Garden landscape is looking to make a change with the proposed addition of new office space, retail storefronts, and residences. The construction would yield a significant upgrade to the historic Beantown landmark, but what will it offer the true Celtics and Bruins fan? Modern places to work, eat, sleep and watch their teams bring home another championship, of course!

The Boston Globe reported yesterday that “owners of the TD Garden are resurrecting plans for a high-rise development in front of the arena that will include a pair of 400-foot towers containing offices, hundreds of residences, a hotel, and stores. The project, which would create a modern, retail-filled gateway to the North Station area, has gained new momentum in recent months, with Target Corp. and Stop & Shop negotiating plans to open stores in the complex.”

Follow the link to read the Globe’s full coverage of the TD Garden renovations, or view our listings of available North Station Office Space.

0 Demand for Services, Mixed-Use Developments Increase in Boston Commercial Market

Posted on January 15, 2013 by Wil Catlin

Boston’s commercial real estate skyline will continue to change during 2013, with the debt market still eager to loan. Mixed-use projects are on the front burner as demand for services continues.

A recent Banker & Tradesman reader survey reports that, “more than 42 percent of developers and commercial construction professionals [that responded to the survey]…said laboratory and healthcare projects will likely be built this year. More than 50 percent said they expect financing to be available at reasonable terms for multifamily apartment construction.”

The complete commercial real estate survey is available Banker & Tradesman website.

Alternatively, follow the link to view available office space in Boston, or Cambridge.

0 MFS Moves Corporate Headquarters to 111 Huntington Avenue

Posted on January 4, 2013 by Wil Catlin

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 Despite Opposing Reports, Financial District Continues to Attract Tenants

Posted on December 4, 2012 by Wil Catlin

The 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 Law Firms Disperse Work to Remote Areas

Posted on November 20, 2012 by Wil Catlin

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 Prudential Leases Office Space in Boston’s Financial District

Posted on September 27, 2012 by Wil Catlin

Office Space at One International Place Boston

Photo Credit: NAI Hunneman via Boston Business Journal

Tenants continue to gravitate to the opportunities in the Financial District with vacancies just above 14 percent within the Class A market. Value opportunities still exist unlike Back Bay and the Seaport where vacancy rates are below 5 percent.

Thomas Grillo, Real Estate Editor at the Boston Business Journal is reporting that “Prudential Insurance Co. of America has leased 3,200 square feet of space at One International Place, the 46-story tower on the Rose Fitzgerald Kennedy Greenway in Boston.”

The full BBJ article is available on their website, here.

Related Property Listings
Commercial Real Estate in Boston’s Financial District

0 Office Space in Boston’s Seaport, State Street in High Demand

Posted on September 27, 2012 by Wil Catlin

One Channel Center has secured its $170 million construction loan to build State Street’s 500,000 square foot headquarters. The Seaport continues to be a destination for companies both big and small with rents now firmly over the $40 asking price.

Dailyfinance.com reports that HFF “has arranged a $170 million construction loan for One Channel Center, a 500,000-square-foot office building currently under development by AREA Property Partners and Commonwealth Ventures in Boston’s Seaport District.”

For more on the transaction, continue on to dailyfinance.com’s full report.

Related Commercial Real Estate Listings
Seaport Office Space for Lease

0 Millennium Tower Gets Green Light

Posted on September 19, 2012 by Wil Catlin

After years of delay and political wrangling the Boston Redevelopment Authority has approved Millennium Partners new towers at the formers Filene’s site.

Read our complete coverage of Millennium Tower Boston on our corporate site, BRAdvisors.com.

Related Real Estate:
Millennium Tower and Luxury Listings

0 Back Bay Retail Space, 28 Newbury St., to Hit Market

Posted on September 19, 2012 by Wil Catlin

Back Bay has another fully leased building coming to market at 28 Newbury Street.

According to The Real Reporter, “the owner of 28 Newbury St. has retained Holliday Fenoglio Fowler to harvest the four-story, 19,050-sf building, according to industry sources, with one estimate suggesting that pricing could approach the $25 million range.”

Follow the link to the The Real Reporter’s article, detailing the history and attributes of the Back Bay property, along with its prime retail space.

Related Commercial Real Estate Listings:
Commercial Office Space in Back Bay

0 Boston Seaport Office Rentals: Prices Continue to Rise, Vacancy At Record Low

Posted on September 11, 2012 by Wil Catlin

Another Seaport portfolio is poised for the market with rents now of $40 PSF and vacancy at a record low.

Banker & Tradesman is reporting that, “in response to rising rents and hot investor activity, National Development is attempting to unload a six-building portfolio in Boston’s Fort Point district…The assets, totaling more than 407,000 square feet of office space, are in the so-called Innovation District, where some rents have jumped significantly over the last year, more than five percent in some places.”

For the full report, continue reading Banker & Tradesman’s complete coverage.

Related Property Listings 
Office Space in Boston Seaport