0 Post Office Square Renovations Continue

Posted on September 28, 2012 by Wil Catlin

What’s changing in Post Office Square? The $40 million renovation of the former Verizon building at 185 Franklin Street which is a joint venture between Commonwealth Ventures and Kennedy associates.

A report in the Boston Business Journal confirmed the news, stating that “a$40 million renovation is set to begin on the former Verizon building at 185 Franklin St. in Boston’s Financial District.”

More information is available at the BBJ website.

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0 Office Space in Boston’s Seaport, State Street in High Demand

Posted on September 27, 2012 by Wil Catlin

One Channel Center has secured its $170 million construction loan to build State Street’s 500,000 square foot headquarters. The Seaport continues to be a destination for companies both big and small with rents now firmly over the $40 asking price.

Dailyfinance.com reports that HFF “has arranged a $170 million construction loan for One Channel Center, a 500,000-square-foot office building currently under development by AREA Property Partners and Commonwealth Ventures in Boston’s Seaport District.”

For more on the transaction, continue on to dailyfinance.com’s full report.

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0 Another Building in Boston’s Financial District Reaches 100% Occupancy

Posted on September 20, 2012 by Wil Catlin

Photo Credit: Thomas Grillo, Real Estate Editor, Boston Business Journal

Another building in Boston achieves 100 percent occupancy in Boston’s Financial District.

According to the Boston Business Journal, “McKinsey & Co, a global consulting firm, is taking 35,000 square feet on 1 1/2 floors in Boston Properties’ 31-story glass tower..[while] Altisource, a mortgage services company, has also negotiated a deal to take nearly 12,000 square feet in the building.”

The two leases combine to bring occupancy of the Financial District building up to 100 percent.

Read the complete article on the Boston Business Journal’s web site.

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0 Back Bay Retail Space, 28 Newbury St., to Hit Market

Posted on September 19, 2012 by Wil Catlin

Back Bay has another fully leased building coming to market at 28 Newbury Street.

According to The Real Reporter, “the owner of 28 Newbury St. has retained Holliday Fenoglio Fowler to harvest the four-story, 19,050-sf building, according to industry sources, with one estimate suggesting that pricing could approach the $25 million range.”

Follow the link to the The Real Reporter’s article, detailing the history and attributes of the Back Bay property, along with its prime retail space.

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0 Transition from Private Offices to Open Plans on State Street

Posted on September 14, 2012 by Wil Catlin

The migration away from private offices to open plan layouts is in full swing from tech startups to mutual fund companies. Pioneer Investments at 60 State Street has captured this in their recent renovation of 100,000 square foot renewal.

According to a report from the Boston division of CityBizList.com, “MPA [Margulies Perruzzi Architects] substantially updated the office design and additional support space consisting of five floors at Pioneer’s Boston office located at 60 State Street.”

For more information on the development, read the complete report detailing MPA’s update on the office space at 60 State Street.

0 Commercial Buildings in Boston Harbor Face Height Limits

Posted on September 11, 2012 by Wil Catlin

How high will Boston rise above the waterfront? That is the question for soon to be hired $300,000 consultant by The Boston Redevelopment Authority.

Reporting on the development study, The Boston Herald cautioned that “downtown waterfront property owners face a wave of scrutiny as Hub planners launch a lengthy study that will influence their development ambitions and outline potential public benefits.”

For additional details on the study, read the full report on The Boston Herald.

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0 Sky Bridge Offers Function, Visual Intrigue to Offices on Stuart Street, Back Bay

Posted on September 9, 2012 by Wil Catlin

Credit: Boston Curbed

Back Bay has a new bridge. The sky bridge over Stuart Street is a phase of construction connecting Liberty’s new headquarters on 157 Berkeley Street with their existing offices at 30 St. James Street.

According to a Boston Curbed report, the bridge will connect “the new Liberty Mutual headquarters going up at 157 Berkeley Street with one of the company’s existing offices at 30 St. James Street. Construction on the second-story sky bridge over Stuart Street is expected to start early next month.”

For more information, jump over to the Boston Curbed web site for the complete report.

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0 One Beacon Street Goes On The Market

Posted on September 6, 2012 by Wil Catlin

Another Class A Financial District tower comes to market. As Class A rents continue to march up it is still a great market to be a tenant with vacancy rates hovering around 15 percent.

“Jim Cronin of Banker & Tradesman reported that “Beacon Capital Partners is trying to unload its One Beacon Street property, and [the publication’s] sources say the expected price will be in the neighborhood of $450 million.”

Jump over to Bank and Tradesman’s coverage for more information

0 Growing Demand for Boston and Cambridge Office Markets

Posted on August 31, 2012 by Wil Catlin

The Boston Office market continues to push rents up as the vacancy rates drops.

A recent office market overview by Newmark Grubb Knight Frank noted, “the paradigm is shifting in many submarkets from a tenant-favored market to a landlord-favored market.”

Read the complete report at Banker & Tradesman.

0 Digital Lumens Moving to Innovation District

Posted on August 23, 2012 by Wil Catlin

The Innovation continues to attract tenants, but with prices pushing $40 PSF some are seeking the value play with the 15 percent vacancy rate of the Financial District.

Kyle Alspach, VC Editor at the Boston Business Journal, reports the “LED lighting system firm Digital Lumens announced Wednesday that it has relocated to a 16,000-square-foot office at 374 Congress St. The office is double the size of the firm’s previous office at 110 Canal St., near the TD Garden.”

Read the complete report on the Boston Business Journal.