0 Waze will Alert Drivers to the most dangerous intersections in Boston

Posted on September 23, 2015 by Wil Catlin

Credit: BBJ

Should your travels to the office take you or your clients through dangerous intersections, turn to Waze to help you in Boston and 4 other cities.

According to the BBJ, “Waze said the app will alert drivers about intersections with a high-collision rates, high-injury rates, vehicle-to-vehicle incidents, vehicle to bike incident and vehicle-pedestrian incidents…Waze will then overlay its crowdsourced incident reports to calculate the intersections or stretches of road that have the highest comparative risk of incidents and injury to drivers and passengers.”

You can read the full article on the Boston Business Journal website.

0 Boston is Accepting Proposals for City Halls Plaza

Posted on September 23, 2015 by Wil Catlin

Credit: Boston Herald

Our mayors wants your ideas for Boston’s City Hall Plaza? What is your vision for the 200,000 square feet of space?

From B&T:

“We’re looking for a partner with an innovative plan to unlock this potential and transform the plaza into a must-see destination for residents and visitors alike. Together, we want to reimagine the plaza as a thriving, healthy and innovative civic space,” [said Mayor Walsh].

The ideal team will propose a detailed and feasible implementation plan…the partner will be able to add new elements and temporary amenities over a three-year contract period. They will also help organize events and activities and contribute to a campus plan.

0 Cloud Computing’s Impact on Today’s Office Space

Posted on September 14, 2015 by Wil Catlin

Office space is used far differently today than 25 years ago. Production is no longer measured by how much time you log in a seat at your desk, but rather what is accomplished by the day’s end. Some jobs still require sitting in a specific seat — lab technicians and receptionists are the two that come to mind — but those restrictions are becoming less and less applicable to the majority of professions. At our company we offer a wide variety of options for our team members, much of which is a direct result enhanced virtual desktops. Only a few years ago, you had to sit at your desk in order to access your computer and critical electronic files; now your electronic desktop can follow you.

co-working and shared office space infographic

Credit: MBACentral

An article from MBAcentral on coworking spaces observes “the changing nature of business and the workforce [noting] 4 in 10 U.S. workers…will be temps, freelancers or contractors, 8 in 10 Large corporations [are] planning to increase use of flexible workforce, Nearly 90% of businesses have already adopted some cloud computing. [and] 80% of companies offer flexible working arrangements, including telework.”

You can read the full article, here.

0 Older Office Buildings in Boston Yielding Higher Rent Prices

Posted on September 13, 2015 by Wil Catlin

office space at 10 Post office square in Boston

Credit: Boston Globe

It is true, Class B office rents are on par with the low rise space in class a towers.

From the Boston Globe:

What they lack in modern conveniences, the Class B buildings make up in character: Many have exposed bricks and beams or ornate stairways and other finishings that have caught the eye of young technology companies and other startups looking for more authentic digs.

Vacancy rates for those buildings have been consistently below those of the more modern, taller downtown towers, something unheard of in previous decades, according to JLL, a Chicago commercial real estate firm with offices in Boston.

Rents at Class B buildings in downtown Boston have increased about 32 percent over the past three years, compared with 18 percent for space in Class A towers, according to Cushman & Wakefield.

Related Office Listings
Boston Commercial Real Estate

0 Free Office Space in Boston for Select Irish Start-ups

Posted on September 6, 2015 by Wil Catlin

Credit: Silicon Republic

Irish entrepreneurship is alive and strong within greater Boston. Launch Space is the launch pad for Irish based companies looking to expand into the U.S. marketplace.

From Silicon Republic:

“The Netwatch Launch Space is about creating a connected community of Irish companies who can support each other as they seek to build their business here,” said David Walsh, CEO of Netwatch…Netwatch made the move in 2011 and we can give other Irish companies a real insight into our experience of setting up a base in the US, introduce them to our own network of clients and contacts, including legal, financial and marketing advisers to ease their entry into what is a huge and varied market.”

0 Upgrades Scheduled for Newly Privatized MBTA Station in Back Bay

Posted on August 31, 2015 by Wil Catlin

Back Bay Station is the 3rd Boston transit hub that has been turned over to the private sector and has some significant deferred maintenance. Boston Properties is doing its part to help bridge the gap.

Credit: Boston Globe

From The Boston Globe:

Just months after signing a $32 million deal to have the real estate giant Boston Properties upgrade the station, the Department of Transportation has agreed to cover six-figure shortfalls in rent from vendors and pay potentially big sums for structural repairs.

The agreement, signed in the closing weeks of the administration of Deval Patrick, calls for Boston Properties to manage the building and renovate the station — installing a new glass facade and windows, updating turnstiles and waiting areas, and bringing in new retail tenants.

In exchange, the company gets the right to build a tower above the station, which opened in 1987.

0 500 Boylston and 222 Berkeley Sold for $1.3B

Posted on August 31, 2015 by Wil Catlin

Credit: BBJ

Equity Office continues to shed Boston Class A towers with the announcement or the $1.3B sale of 500 Boylston and 222 Berkeley Streets to a partnership between JP Morgan Chase & Co. and Oxford Properties Group.

From the Boston Business Journal:

The two office buildings at 500 Boylston St. and 222 Berkeley St. take up the same square block in the Back Bay, one block up from Copley Square. 222 Berkeley is a 22-story office and retail complex, and 500 Boylston is a 25-story, 1.3 million-square-foot office.

500 Boylston Street is a 760,000 square foot 25 story tower with a typical floor size of 28,275 square feet.

222 Berkeley Street is a 524,195 square foot 22 story tower with a typical floor size of 51,655 square feet.

0 BRA Approves Six Office Building Projects in Boston

Posted on July 27, 2015 by Wil Catlin

Credit: Boston Globe

Six buildings in Boston’s Financial District, Congress Square, are set for complete renovation by Related Beal.

According to the Boston Globe, the BRA approved six projects in total, “the agency gave the go-ahead to some $515.6 million in development…One of the biggest projects is Congress Square, the renovation of an entire city block of buildings in the Financial District, between Congress and Water streets. Developer Related Beal plans to turn six office buildings into a boutique hotel, new housing, and office space…Also approved was Clippership Wharf, which would put 492 apartments and condos on 12 acres on the waterfront in East Boston. Developer Lend Lease plans to move forward on the long-stalled project and won approval to add housing units and subtract parking spaces from a plan approved in 2003.”

You can read the full article on the Boston Globe, here.

0 Boston High-Rise Office Space: Rents Exceeding $90 per sq. foot

Posted on July 20, 2015 by Wil Catlin

Credit: Bizjournals.com

Boston office rents continue to grow as tenants continue to migrate to downtown Boston high-rise office buildings.

From the Boston Business Journal:

Low-rise and Class B offices are now commanding rents in the mid- to upper $40s range, while high-rise rents are reaching well past the $90 per square foot range, according to second-quarter research from commercial real estate services firm DTZ. Class B office rents are up 21 percent from last year in the Financial District, 12 percent in the North Station region and 20 percent in South Station, DTZ said.

“It’s also worth noting that nearly 25 percent of Boston’s office inventory has traded hands in the past 12 months,” the research report said.
Meanwhile, Cambridge also maintained its post as the strongest real estate market in Massachusetts, with $2.2 billion in sales activity. That’s more than half of the overall $4 billion in total sales volume so far this year, according to recently released second-quarter research from JLL..Direct average rents rose more than 5 percent year-over-year in nine out of 12 of Boston’s submarkets, topping out with 16.3 percent growth in East Cambridge.

0 Boston Office Rents up 7.6%

Posted on July 20, 2015 by Wil Catlin

One Broadway in Kendall Square (click for property details)

Fewer options exist on the Boston office market, and what is available is more expensive then previous quarters. Combined with fewer concessions offered by landlords, local tenants are feeling the pinch.

From the Boston Globe:

Boston’s office market is hopping, according to reports issued by real estate brokerages Transwestern and Jones Lang LaSalle. Driven by strong employment gains and growing companies in need of additional space, rents are rising all across Greater Boston, up 7.6 percent in the last 12 months. Throughout Cambridge, there are just three vacant office spaces of 20,000 square feet or more on the market, and rents in Kendall Square are averaging above $70 per square foot. Along Route 128, vacancy rates are at record lows, while office rents along Interstate 495 are at seven-year highs.