0 The Importance of Business Collaboration

Office building on State Street in Boston

255 State Street in Boston

There is something to be said for water bubbler conversations, old fashion face time. In the era of telecommuting and Aps for this and Aps for that companies are trying to their staff be in a position to share ideas with their peers.  The idea seems simple enough, but how do you make it a reality? The question I have for you is do you know what your neighbor does?

A Boston Globe article about business collaboration stresses the advantage of physical networking, even in a world of virtual industry:

“Here’s how it’s supposed to work: Two years ago, Guzzi called Niraj Shah, the cofounder and chief executive of Wayfair, a Boston-based furniture and home goods Internet retailer that generates more sales than Crate and Barrel online. They met over breakfast at the Mandarin Oriental Hotel’s Asana, where Guzzi persuaded Shah to join the chamber. The chamber landed a star e-commerce company, one that now employs more than 900 people in Boston — a 50 percent increase in just a couple of years. Wayfair got fresh connections and a far stronger voice in Boston’s business community.”

The full globe editorial is available on their website: Bostonglobe.com

0 Boston Co-working Spaces Offer Quality, Affordability, and Location to Hub Start-ups

Workers share ideas and brainstorm in shared space

Credit: The Boston Globe

The greater Boston area is a mecca for new and innovative ideas that blossom into companies. As decision makers face the multitude of choices from hosting platforms to new staff members, one decision is the culture they would like to offer. Co-working sits at the forefront of that decision.

Some companies with limited staff and resources, cherish the opportunity to be a part of a larger culture, and co-working is the right fit, while other companies prefer to create their own. Something to think about as you head from the basement to the boardroom with your new idea.

Boston.com has taken the time to explore some of the top Boston co-working spaces.

 

0 New Shared Workspaces Opening in Kendall Square

210 Broadway Street in Kendall Sq. in Cambridge

210 Broadway St. in Cambridge, MA

In light of the fierce competition of office space in Kendall Square, another shared-space option has put its stake in the ground, catering to the small user. For $400 per. month, you too can have a place to call “The Office” at 210 Broadway.

According to the BBJ, “NGIN, whose name was chosen because it sounds like engine, will open a 15,000-square-foot center 210 Broadway in Cambridge’s Kendall Square to serve as a “living lab that deploys advanced technology to explore the future of worklife,” according to the company’s marketing materials. The company is competing against Cambridge Innovation Center, Workbar, Dogpatch Labs and Geek Offices for a growing niche market.”

For more info, you can read the full BBJ article, here.

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Office Space in Kendall Square

0 Cambridge Office Rents Push Out Small Businesses

Cambridge Center office space in Cambridge Mass

4 Cambridge Center, Cambridge, MA

If you’re a CEO of o a small software company that has recently been funded where do you go?  Well the next question is what can you prudently afford. Gone are the days of leasing as much space as you can and hoping for revenue. Today’s decision makers would love to continue to grow their business within close proximity of the think tanks at Harvard and MIT; the reality, however, is that those locations are being gobbled up by the large publicly-traded tech companies with a worldwide presence. The notion of paying $60 PSF doesn’t affect them as much when you compare it to pricing in London or Singapore.

The Boston Business Journal describes the surge in Class A office space in Cambridge, identifying the “one-year increase roughly equates to a 25-to-30 percent price hike for tenants seeking a new or expanded beachhead in the Bay State’s innovation hub.”

You can check out office space available in Cambridge or read the BBJ’s article.

0 East Cambridge Office Market One of Hottest in the Country

The office market in East Cambridge is one of the hottest in the country. Rental rates have increase by 15 – 20 percent in the last twelve months alone and don’t show any sign of letting up.

East Cambridge office vacancy and market stats graph

Photo Credit: SquarefeetJournalDotCom

At the CBA Event; Cambridge Looking Behind the Deals a question was asked, “Why don’t tenants look in alternate submarkets?”  The answer, “Because that’s where Harvard and MIT are.”  Truth be told, groups like Twitter, Microsoft and Google want to be there and can afford to be.  Those that get squeezed out are the real startups.

 

0 Kendall Square to Offer Rent Control to Start-ups

Offices at 300 Technology Sq in Kendall Sq.Is rent control coming to the Cambridge office market? Cambridge is moving to create price-capped office space for start-ups in Kendall Square.

According to a Boston Globe article, Cambridge “is poised to become the first community in the country to require commercial developers to set aside lower-cost offices for start-up companies and budding entrepreneurs.”

The full Globe article is available on the BostonGlobe.com.

0 Boston Commercial Real Estate Market Going Strong

Office building at 1 Brattle Sq. in Cambridge, MaMultiple media outlets and commercial real estate firms are saying the same thing; the office market has made up for recession losses. This is primarily attributed to the following: financial, life sciences, technology, biomedical and engineering firms.

A Boston Herald editorial delves into the numbers further:

“The first quarter started with strong leasing activity in several sectors, from financial to life sciences, technology, biomedical and engineering firms. The vacancy rate in Greater Boston dipped below 15 percent for the second quarter in a row, yet spiked 27 basis points because of a number of spaces that were known to be coming to the market, including Monitor’s 196,000 square feet at 2 Canal Park in Cambridge and IBM’s building at 5 Technology Park in Westford.”

Follow the link to read the full article on BostonHerald.com.

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Available Office Space for lease in Cambridge, Boston

0 Boston Commercial Market Shows Full Recovery

office space at 10 Langley Place in Newton MaThe recovery is well underway which is evident by the downtown vacancy rate dropping below 10 percent.

According to a Banker & Tradesman article, referencing  a Jones Lang LaSalle (JLL) report on commercial leasing, “Boston is officially in growth mode and has exceeded its pre-recession jobs peak…high-tech and life sciences continue to grow, at 9.8 percent and 5.9 percent year-over-year, respectively.”

Additional details on the commercial market recovery are available on the Banker & Tradesman website.

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Boston Office Space for lease

0 39 JFK St. in Harvard Sq. Sold for $33.1M; Price Exceeds $1,600 per SF

Logo for Boston Realty AdvisorsThe Real Reporter covered the sale of 39 JFK St., noting, “one of Harvard Square’s most prominent buildings has changed hands at a mind-boggling price cresting $1,600 per sf, scooped up by a foreign investor in an off-market transaction orchestrated by Boston Realty Advisors. The $33.1 million exchange of 39 JFK St. offers a double dose of déjà vu, with the same buyer in 2012 acquiring three Harvard Square assets in two separate trades also negotiated by BRA’s team of Michael d’Hemecourt, Christopher D. Sower and Jason S. Weissman.”

To view other properties from BRA, jump over to BostonOfficeSpaces.com’s commercial listings.

0 New Construction Yields Jobs in Boston

Two Cambridge Place office building from outsideJobs, Jobs and more Jobs. The construction industry is in the midst of a very strong rebound from recent years. As you drive around Boston, you’ll notice the skyline littered with construction cranes from the Seaport to Back Bay; that means the once soft construction industry is on a frantic pace to keep up with the supply of new office buildings and residential communities.

A Banker & Tradesman editorial examining the economic impact of the construction boom, indicates that it has “pushed general contractors and builders across the Greater Boston region to increase their ranks with project and assistant project managers, superintendents and business development professionals.”

B&T subscribers can read the complete article on the building surge.

Alternatively, you can jump over to BostonOfficeSpaces to view all available commercial real estate in Boston, or office listings in Cambridge.