0 One Beacon Street Goes On The Market

Office Space at One Beacon St. Boston MaAnother Class A Financial District tower comes to market. As Class A rents continue to march up it is still a great market to be a tenant with vacancy rates hovering around 15 percent.

“Jim Cronin of Banker & Tradesman reported that “Beacon Capital Partners is trying to unload its One Beacon Street property, and [the publication’s] sources say the expected price will be in the neighborhood of $450 million.”

Jump over to Bank and Tradesman’s coverage for more information

0 Growing Demand for Boston and Cambridge Office Markets

office space at 1 kendall square in cambridge maThe Boston Office market continues to push rents up as the vacancy rates drops.

A recent office market overview by Newmark Grubb Knight Frank noted, “the paradigm is shifting in many submarkets from a tenant-favored market to a landlord-favored market.”

Read the complete report at Banker & Tradesman.

0 A Brief History of Boston’s North End

office space for lease in north end bostonBoston’s North End has a unique flavor that is distinctly Italian. “Little Italy” features narrow cobblestone street, small boutiques, fabulous restaurants, and delicious pastry shoppes. On the weekends, tourists and locals alike flood the streets. The North End is a neighborhood with a history as rich as the filling of a cannoli.

1600s
•    Boston’s oldest neighborhood was established in the mid-1600’s. By 1646, the area had a population large enough to call for it’s own church, the North Meeting House.
•    The original residents of the North End were Puritans, as well as slaves from New Guinea.
•    During the 17th century, the North End was home to Boston’s first food markets, as well as mills that converted food to storable grains and wood for construction of homes and ships.

1700s
•    Old North Church is constructed in 1723 – the oldest church building in Boston proper.
•    Merchants & Robust Economy – The 18th century brought bustling trade for merchants in ship building. A bustling economy fueled by shipbuilding and trade. Imports, including sugar, fruits, coffee, tea, and wool. in turn these ships brought merchants importation of worldly goods such as sugar, fruits, coffee, tea, wool, etc. essential items for everyday existence. The artisans of the time were expanding their skills in gold and silver-smithing, copper production, and iron and steel bell casting.
•    These merchants settled in the North End in the late 1700s, building mansions and developing the area into a desirable residential neighborhood.

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0 eBay Closing In On Lease at Boston’s International Place

Office Space in Boston's Financial DistricteBay is settling in on one of the Financial Districts 16 buildings that currently have more than 60K RSF of contiguous space according to CoStar.  Vacancy within the Financial District is running just below 15 percent with opportunities in the low to mid rise space within the Class A inventory and the entire Class B market.

The Boston Business Journal offers some perspective on the transaction, noting “the lease would be one of the largest on record this year for the Downtown market and would mark a significant win for The Chiofaro Co., the International Place’s developer and current leasing manager.”

For more information, we recommend reading the Boston Business Journal’s full report.

0 Financial District Vacancy Drops to 14.8%

Boston Night ImageVacancy in the Financial District dropped to 14.8 percent with rents up 1.25 percent to just over $45.60, while Back Bay is just over $55.25 and the Seaport District is $51.00.

Banker & Tradesman states, “the Greater Boston office market enjoyed a strong second quarter, according to a new quarterly research publication released this morning by Richards Barry Joyce & Partners LLC (RBJ&P).”

To read the complete article, click through to Banker & Tradesman.