0 Office Space Boom in Boston Area Suburbs

new office building in Needham for TripAdvisor

Credit: Boston Globe

The greater Boston economy is strong with jobs, construction and capital.  Many office users are seeking value while trying to straddle the live-work-play model for their staff.  Not every company can be located within a five-minute walk of South Station, nor can they offer free parking to their employees. What we are seeing is locations that offer infrastructure, reap the benefits of today’s strong office market.

A recent Boston Globe article remarked, “the western suburbs around Route 128 are experiencing a building boom, with new headquarters for growing companies such as TripAdvisor and Vistaprint among five huge developments under construction in Needham, Waltham, and neighboring towns…The attractions of the suburbs include much lower rents and lots of choices. Moreover, the workspaces — either new or newly renovated — are far from the souless corporate boxes of the 1980s that dotted the suburban landscape. The interiors of some new offices look as if they could comfortably fit along Seaport Boulevard in Boston or Broadway in Cambridge.”

Jump over to the Globe’s website for its full article.

0 Needham Crossing Progressing

Needham Crossing development

Credit: prnewswire

The Town of Needham is experiencing a boom in development. With an abundance of newly-constructed office buildings in Needham, recent zoning changes as well as the state’s add-a-lane highway project –- which will include on- and off-ramps for Route 128 at Kendrick Street -– Jeremy Freid, a partner in the suburban arm of Boston Realty Advisors, believes said change will send positive signals to the business community.

A Needham Times editorial on WickedLocal, Let Needham Crossing thrive, includes a progress report on the commercial development:

“The biggest boon to Needham Crossing came in late 2012 when TripAdvisor agreed to move its headquarters there after Needham Town Meeting approved $1.8 million in tax breaks for the company in exchange for construction of a new headquarters and the hiring of 250 additional employees over five years. The new headquarters is slowly coming to fruition. Its steel frame is already up, and the project is moving toward a 2015 completion date.”