Category Archives: Cambridge Office Space

0 April Fools: Corporate Edition

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Boston mad men office design for april fools

Credit: The Boston Globe

April fools isn’t only for the water sprayer at the kitchen sink.  Some of the team at Endeavour Partners in Kendall Square were taken back when they arrived at their office on April 1st.

According to The Boston Globe, an elaborate April Fools’ Day prank was achieved by the office assistants and company chief executive Michael A.M. Davies; “more than a dozen computers and phones were replaced by typewriters, notepads, and rotary phones. Old records and copies of Life magazine were placed around the office, along with a bottle of whiskey for good measure…Neel Desai, an associate consultant, said the gag was indicative of the office culture at the company.”

You can read more about the ruse on The Boston Globe.

0 Amazon Hiring for Echo in Cambridge

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Amazon Echo

Credit: Boston Business Journal

Job openings are abundant at Amazon’s Echo in Cambridge at 101 Main Street in the Kendall Square.  Echo is a wireless gadget that doubles as a speaker and voice prompted remote control.

According to a BBJ article, “Amazon has an entire floor in its Kendall Square office dedicated to teams working on the Echo. The company has leased six floors at its 101 Main St. office in Cambridge with enough room for up to 800 employees.”

101 Cambridge Street is a 341,830 square foot 18 story building owned by RREEF.  Some of the tenants according to CoStar include:

  • Amazon
  • Aegerion Pharmaceuticals, Inc.
  • CIC
  • CRICO Strategies
  • Endeca Technologies, Inc.
  • Computers/Data Processing
  • Amazon.com
  • Clarus Ventures
  • Matrix Partners
  • Lantos Technologies
  • Cambridge Consultants Inc.
  • Personal Services
  • Genentech
  • TiE Boston
  • Cafe on Main
  • Nextcode Health Usa, Inc
  • Park Square Execuitve Search, Llc
  • Capstone Financial Services
  • BP America Inc.
  • Quanticate Inc.
  • Gecko Health Innovations, Inc.
  • BioMed Realty Trust
  • Endeavour Partners Llc
  • Kinalco Inc.
  • Tatte Bakery & Cafe
  • Withings Inc.
  • Corporate Chefs
  • Cambridge Athletic Club Express
  • Matrix Capital Management Company Llc
  • Keryx Biopharmaceuticals
  • Cambridge Advisory To Family Enterprise
  • Lns Research

 

0 East Cambridge Office Space to Undergo Development

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:64 Sidney Street, Cambridge office spaceChanges are on the move for East Cambridge, with a deal on the horizon for Vertex’s old HQ. According to the Boston Globe, “the deal will enable Biomed to begin renovating the buildings. They include two lab and office buildings at 200 Sidney St. and 40 Erie St., with a total of 239,000 square feet, that were leased to Vertex through this December, and another 21,000 square feet at 21 Erie St. that was leased to Vertex through May 2017.”

Follow the link to view available office space in East Cambridge, or the Kendall Square overview.

0 Boston Commercial Real Estate Retrospective

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Boston office buildings line the skyline

Credit: The Boston Globe

The city of Boston that is home to a wide variety of college, universities, professional sports team, hospitals and companies is changing.  We have created the Back Bay, built office tower and now adding more buildings to our skyline.  No longer are the tower views home to companies, but residences.

The Boston Globe has put together a retrospective, “A new age for an old town”, tracing the Hub’s commercial transformation. The article notes the following:

Today, Boston Properties, one of the city’s most prolific builders, is developing a 17-story office building on the final parcel within the Prudential complex. Meanwhile, the area around the Pru is exploding with new projects and proposals for hotels and towering residential buildings.

“It’s absolutely extraordinary,” said Bob Richards, a partner at Transwestern RBJ. “What’s driving it is the top-tier labor talent in industries like technology and life sciences. The young people who work for those companies want to live in an urban environment.”

Not coincidentally, the city’s population is rising more rapidly than it has in decades. The total head count rose by nearly 30,000 people, to about 646,000, between 2010 and 2013, according to the US Census Bureau. That’s more population growth in three years than Boston experienced in the 1980s and ’90s combined.

0 Kayak Hosts Cambridge Hackathon to Recruit New Hires

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Cambridge office space of Kayak

Credit: Boston Business Journal

Today’s office tenants are not only using their office to house their staff, meet and greet their customers, but now as a recruiting tool.  Kayak hosted an event for new recruits earlier this year at their new 42,000 square foot facility.

From the BBJ:

The chance for non-Kayak employees to show off their tech skills is a win-win for the company and for those techies, said Kayak chief technology officer Giorgos Zacharia in a recent interview.

“We want to be known as a cool company in this area,” said Zacharia. “People don’t know that we moved. The hackathon is a way to make it known that Kayak is now in Cambridge and we’re in this amazing space.”

0 Boston Office Rents Among Country’s Most Expensive

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Boston Rents continue its upward push with four office markets leading that charge: Back Bay, East Cambridge, Financial District and Seaport.  The Class A market within Back Bay is clearly leading the way, while some value still exists within the Class B market.  A real driver in the increased rents is the cost of tenant improvement dollars going from shell space to fix up space.  Not uncommon to see those numbers north of $75 per square foot.

office market in Boston

Credit: Boston Business Journal

According to the BBJ, “the Back Bay’s average rents hovered over $60 last year [while]…Midtown New York commanded about $130 per square foot, and both San Francisco and Washington rents topped $75 per square foot.”

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

0 New Greenline Stops Bode Well for Cambridge Real Estate

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map of the greenline extension project

Credit: Bostinno.Streetwise.co

The city of Boston is growing its daytime and nighttime population and with that comes infrastructure, who steps in?  The T.  Well yes, it has been discussed for years, but the Greenline is adding six stops in Cambridge, Somerville and Medford.  While some might argue that the Greenline is slow and clunky, yes it’s the old subway in the country, is still performs.  By adding these stops commuters will gain affordable timely access to the city.

Bostinno.Streetwise notes the MBTA’s Green Line Extension project or GLX, calls for “a total of six new Green Line stops added in Cambridge, Somerville and Medford, as well as the relocation of the existing Lechmere Station. One of those planned stops is Union Square – a location which is due to receive its own billion dollar makeover.”

For more info on the GLX, jump over to Bostinno.Streetwise.

0 Kendall Square Office Rents Reach Record Level

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4 Cambridge Center

Four Cambridge Center

With the boost of office rents in East Cambridge, Downtown Crossing has become the new hotbed for Redline creative and tech companies with Class B rents still in the $30’s PSF.

The Boston Globe is reporting “Office rents in Kendall Square have hit an all-time high of almost $67 per square foot, breaking a record last set in 2001, according to the real estate brokerage Transwestern RBJ…Transwestern said the average asking rent on a top-tier office space in East Cambridge set a new record of $66.63 in the final quarter of 2014, edging out the previous record of $65.85 set in 2001. East Cambridge’s vacancy rate of 6.7 percent was lower than many parts of Boston’s central business district, but higher than those of the smaller office markets of South Station, North Station, and Longwood, whose vacancy rates ranged from 2 to 4.4 percent.”

Additional insight on the East Cambridge boom is available on the Boston Globe.

Office availability and neighborhood information for Downtown Crossing and Kendall Square are available on the following submarket pages:
Downtown Crossing offices
Kendall Square office space

0 Apple Leases Additional Office Space in Cambridge

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One Broadway east Cambridge

One Broadway in Cambridge MA

Apple is expanding Siri in Cambridge by securing 11,500 RSF at One Broadway.

According to an article on CultofMac.com, “documents filed with local authorities show that the company has leased around 11,500 square feet of office space on the 13th floor of One Broadway, an office tower owned by MIT and located on the outer perimeter of the university’s campus in Cambridge, MA,” in an effort to expand its Siri team.

You can read the entire article the CultofMac website.

0 Boston Office Vacancies Reach 14-year low

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office building graphic

Credit: wbjournal

The Boston Office market continues to price upward while pushing vacancies to levels not seen since 2001.

WBjournal reported on a study conducted by Transwestern, a commercial real estate management firm, citing “in the fourth quarter, the region’s office market closed the year at a 12.8-percent vacancy rate. For the year, 3.6 million square feet of office space was absorbed, marking the area’s seventh consecutive quarter of positive absorption.”

The WBjournal offers an additional details on Boston’s vacancy rate.