0 Is One Lincoln Street Stagnation a Sign of Larger Trend?

Posted on March 5, 2013 by Wil Catlin

State Street Financial Center at 1 lincoln

Photo Credit: Boston Business Journal

The office market is in the midst of an upswing as it pertains to rents, but from the value side, buyers are cautious. Have we peaked or is there more to come?

The Boston Business Journal article reported on the relative stagnation, noting that “twenty months after One Lincoln Street — also known as the State Street Financial Center — was put up for sale, the skyscraper remains on the market for $1.15 billion.”

Follow the link to read more about One Lincoln Street.

0 11 Beacon St. Sells for $35M

Posted on February 2, 2013 by Wil Catlin

Photo Credit: Boston Business Journal

The Class B office sale market continues to move in 2013 with the recent closing of 11 Beacon by Synergy Investments for $35M. The acquisition offers the market an expanded footprint by a landlord with a proven track record to get deals done.

Market rents in the Class B market are ranging from the upper $20’s – low to mid $30’s PSF within the Financial District.

According to an article on the Boston Business Journal, “the 93-year-old building was put on the market last fall by DivcoWest Properties, a privately-owned real estate investment firm with offices in Boston, who paid $16 million for the property in 2010. Divco said it spent $4.9 million in capital improvements. The city has assessed the 12-story building at $20.8 million.

For more details on the sale of 11 Beacon Street, follow the link to the Boston Business Journal’s coverage.

0 40 Broad St. for Sale

Posted on February 2, 2013 by Wil Catlin

Photo Credit: Boston Business Journal via Jones Lang LaSalle

The Class B market continues to see assets brought to the sales market. 40 Broad Street, is the latest; it last traded in 2006 for $174.84 PSF and we will see how the market receives it today.

According to a report by Thomas Grillo on the BBJ, “Pearlmark bought the building from Prudential Real Estate Investors in 2006 for $50 million. Brokers say the sale could fetch twice that.”

Details on the property are available on the Boston Business Journal.

0 11 Beacon Street, Class B Office Space in Boston Trading Hands

Posted on January 15, 2013 by Wil Catlin

Another Class B Financial District assets is said to trade hands; 11 Beacon is reported to go the Synergy Investments. The Class B market continues to see trades along with increasing rents; currently B product is pricing in the upper $20’s too low to mid $30’s depending on location and improvement package. According to CoStar the vacancy rate for Class B in the Financial District is 11.9 percent as of 12/31/12.

This pdf created by TheRealReporter.com offers details on the Class B office transactions.

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 Boston Building Growth Strong in 2012

Posted on January 8, 2013 by Wil Catlin

Yes, our city as we know it is changing and by that, I mean growing. With 22 developments starting in 2012 we can expect to see 2,500 construction workers taking to the streets to build new offices and homes. So, take time to let them in our out of traffic so our city can continue to grow and prosper.

A report in Banker and Tradesman notes that “in 2012, projects broke ground in Allston/Brighton, Charlestown, Chinatown, the Innovation District, Jamaica Plain, the Longwood Medical Area, Mattapan, Roxbury and South Boston. These projects have housing, hotel, athletic, municipal, office and retail uses.”

Related Office Space
Available Commercial Real Estate in Boston

0 11 Beacon Street in the Financial District For Sale

Posted on October 19, 2012 by Wil Catlin

The Class B market in the Financial District continues to see trades. 11 Beacon Street is the next one to hit the market after being acquired in 2010.

According to the Boston Business Journal, “the 92-year-old building was purchased by Divco in 2010 for $16 million and the firms said it has spent $4.9 million in capital improvements. The city has assessed the 12-story building at $20 million.”

For more information on the sale of 11 Beacon Street, jump over to the Boston Business Journal’s website.

0 Brookline Bank to Sell Financial District Office Building

Posted on October 9, 2012 by Wil Catlin

Financial District office building at 31-33 State St., Boston

(Photo Credit: Boston Herald)

The Class B market in Financial District has another asset trading hands.

According to the Boston Herald, “the bank [Brookline Bancorp] said yesterday that 31-33 State St., a slender structure built in the late 1800s, is under agreement to be sold to an unidentified buyer by the end of the year.”

This is another indication that Boston’s Financial District remains an active market for downtown office space heading into Q4.

For more information on the sale of Brookline Bank’s financial district office building, read the Boston Herald’s full report on the sale of 31-33 State Street.

Related Commercial Real Estate Listings
Financial District Office Space for Lease

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 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