Light Bulb had been located in 2,000 square feet at the Cambridge Innovation Center, a coworking space for startups, before looking to branch out. The company was considering other office space in Cambridge or Boston. But it was a recently renovated brick-and-beam office building at 56 Roland St. in Charlestown that caught Finally Light Bulb’s eye…The company will expand to 8,000 square feet in March at the office, quadrupling its existing space.
The Boston Globe is narrowing its search for its new home. Reports on the BBJ name Fenway and Charlestown as potential destinations for Globe’s new HQ.
The Boston Business Journal states, “local real estate sources have confirmed that two of the newspaper company’s possible destinations are in Charlestown, while the third site under consideration is the Fenway, just a stone’s throw from another prominent asset owned by Henry, the Boston Red Sox. The article also notes, “The Landmark Center in Boston’s Fenway neighborhood will have approximately 360,000 square feet of available space following the departure of Blue Cross/Blue Shield.”
The office market is strong within greater Boston and hasn’t this active with positive rent growth and absorption since 2007. This is due to a couple of components; flight to quality, migration to Boston from suburban markets, new companies entering the market and companies within Boston expanding.
The Boston Business Journal notes, the strength of the market; “greater Boston’s office market achieved more than 2.8 million square feet of positive absorption last year, the strongest showing since 2007”
What’s the fastest route from East Boston of South Boston and the Seaport? Not the Big Dig, but rather increased ferry service.
Branker and Tradesman is reporting that “the city of Boston has been awarded $1.28 million in federal grant money to buy two ferries that will travel between East Boston, South Boston and Charlestown. The new service is aimed at meeting the growing need for transportation across Boston Harbor and spurring economic opportunity by creating new transit connections between residents and jobs.”