0 Boston Office Rents Expected to Rise through 2017

Posted on May 12, 2015 by Wil Catlin

Boston office rents continue to rise, and are expected to climb through 2017. What can you do to hedge your risk against leasing in the top of the market? Understand what you need and engage an advisor.

The BBJ notes, “Boston can expect its asking rental rate increase to average 10.1 percent per year during that timeframe…The office market in Boston’s central business district averaged a $46.60 per-square-foot rental rate last year…[with estimates for] those rates to increase to $52.83 by 2015, $59.48 by 2016 and $62.09 by 2017.”

You can read the complete article on the Boston Business Journal, here.

0 Biotech Real Estate Soaring in Kendall Square

Posted on May 12, 2015 by Wil Catlin

The global hot spot for Bio Pharma space is Kendall Square in East Cambridge with 130 life sciences companies in 2.5 square miles.

Credit: CNBC

From CNBC:

“Of the top 20 pharmas I think probably somewhere between 50 and 75 percent have a presence in and around Cambridge,” said Joel Marcus, CEO of Alexandria Real Estate, the landlord with the biggest market share in the area.

“As tight as the lab market is in Kendall Square, the office market is even more tight, in part because Microsoft and Google are expanding their operations,” MassBio’s Abair said. At the same time though, he noted the proximity of tech and life sciences companies enable cross-industry collaboration.

Follow the link to view a related video on CNBC.

0 April Fools: Corporate Edition

Posted on April 27, 2015 by Wil Catlin

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

Posted on April 27, 2015 by Wil Catlin

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

Posted on April 14, 2015 by Wil Catlin

Changes 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 New Greenline Stops Bode Well for Cambridge Real Estate

Posted on February 11, 2015 by Wil Catlin

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 Apple Leases Additional Office Space in Cambridge

Posted on January 19, 2015 by Wil Catlin

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 Technology is Transforming Boston Commercial Real Estate

Posted on January 18, 2015 by Wil Catlin

Credit: analyticsweek.com

The commercial real estate industry has truly benefited from technology. I entered the industry in 2002 and from then to now is dramatically different; today I can walk down the street, open my tablet and find out what space on what floor is available in any commercial building. This was unheard of 5 years ago and only gets better with version updates of various apps. Not to mention the infusion of data, real-time analytics, and crowdfunding.

The BBJ notes “while data can’t predict the future just yet, big data can tell us the probability of future decisions, which can lead to actionable decision-making.” The article also mentions the benefit to “accredited and non-accredited investors, through a multitude of platforms, have the ability to invest in early-stage companies. What this means for commercial real estate is that everyone’s customer base broadens as fractional “ownership” increases. It also results in more capital outlets and providers for a more competitive landscape.”

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

0 New ‘state of the art’ Juice and Coffee Bar coming to Kendall Square?

Posted on January 9, 2015 by Wil Catlin

Looking for a fresh new twist in Kendall? Boston.eater.com posted an article on a mysterious “Craigslist job posting for a manager of a ‘brand new state of the art juice and coffee bar,’ that offered no name, location, or opening timeline…the posting suggests a focus on ‘all natural and organic’ ingredients sourced locally.”

inside Kendall square juice bar, Mother juice

Mother Juice in Kendall, courtesy of eater.com

In the meantime, visit Mother Juice @ 625 W Kendall Street, Cambridge.

0 Office Design Mirrors Culture, Approach for Modern Start-ups

Posted on January 7, 2015 by Wil Catlin

Art in Facebook's Cambridge office space

Credit: The Boston Globe

What type of art does your office have? The experience of today’s office differs greatly from what we saw just 10 years ago; today it exudes the company’s culture and vibe.

The Boston Globe recently published an article on the interior aesthetic and art marking Facebook’s Cambridge office:

The Kendall Square office of Facebook, which opened last year, includes five art pieces commissioned by the social media giant. Ryan Mack, who runs the local office for Facebook, oversaw the selection of art:

‘If you look at any of our offices, art’s an important part of our company culture. We try to find pieces that combine Facebook culture, which is about technology and connecting people, with the local culture. So we always get stuff from local artists…there are design elements that are consistent across all Facebook offices, but the art gives them a local touch. We put an artist statement up near each piece that tells a little story about the artist or how they designed that piece for the office.’