- CONSIDERING MULTIPLE MARKETS
- CLUSTER MENTALITY
- HEDGING GROWTH
- OPEN CONCEPT
- MORE CONCERN ABOUT HVAC CAPACITY AND BATHROOMS
- FLEXIBILITY IS PARAMOUNT
- CASH IS KING
- ACCESS AND UNIQUE AMENITIES
Why are office building measurements getting redefined? In short, buildings are creating more common areas and outdoor amenities to accommodate today’s tenancy. The changes put forth this past October by the Building Owners and Managers Association (BOMA) International are designed to account for the way young talent is seeking out and utilizing outdoor space – like rooftop terraces, balconies, etc.
From Seeking Alpha:
“The 2017 standard really reflects the changes that are happening in the marketplace,” BOMA International Chair Rob Brierley told VTS. He’s also an executive vice president at Colliers Boston. “There has been such an increasing demand for well-appointed exterior amenities like balconies, covered galleries and finished rooftop terraces. If the tenant is taking advantage of it, the rationality is they should also now include it as part of the rentable square footage… It’s a more clear and accurate representation of how tenants are actually using space.”
“Over the last decade, the amenity packages that folks are asking for is changing so quickly,” Brierley added. “Today if you don’t have a roof deck or patio, you’re definitely at a disadvantage in many ways…. The reality is if you go out to any building that has a patio or roof deck, everybody’s using it. It’s not just the millennials. It really has been an extension of their respective offices, which is one of the reasons this change has occurred.”
Boston has been innovating for centuries. Its prowess, formulated with the race to build the first underground community powered by electricity, laid the groundwork for innovation to come.
As noted by PBS, “it was Boston — a city of so many firsts — that overcame a litany of engineering challenges, the greed-driven interests of businessmen, and the great fears of its citizenry to construct America’s first subway.”
You can read more on this historical feat on PBS.org.
Boston is number one in so many ways, here is the latest one.
From the Boston Business Journal:
Boston is ranked No. 1 among the top 25 startup hubs in the U.S., according to a report released Wednesday by the U.S. Chamber of Commerce Foundation and startup incubator 1776. The ranking means Boston is best positioned to lead the digital economy, though it has work to do when it comes to corporate engagement, the report found.
The San Francisco Bay Area is still the leader in total startup activity, but “Boston earned the top spot by having clear emphasis on next generation tech companies specializing in education, energy and healthcare industries; high quality of life ratings; and a welcoming regulatory environment for startup communities,” according to a release from the U.S. Chamber of Commerce.