0 Bike Markers to Line Needham Streets

Posted on July 28, 2014 by Wil Catlin

Credit: Urban Turf

The Town of Needham plans to add bike markers to the shoulder of Greendale Avenue and Kendrick Street, two of the major roads connecting Needham to Newton. In addition, the Town is updating their plans to add Bike paths to the Highland Avenue/Needham Street corridor, ultimately making biking safer for those employees commuting to work via bicycle. Needham and Newton office buildings along the corridor will soon be able to offer their Tenants amenities such as heated bike storage units and bike paths.

0 Needham Hospital – Beth Israel Renames Glover Café

Posted on July 28, 2014 by Wil Catlin

Credit: Wicked Local

The Beth Israel in Needham is now renaming the hospital’s Glover Café to the Trotman Family Glover Café as a result of the generous gift donated to the Cancer Center and Surgical Pavilion on behalf of the Trotman family.

This change is just one of many taking place within the hospital throughout Needham as Beth Israel continues to grow and raise funds towards its goal of opening the new Cancer Center and Surgical Pavilion mid-September 2014. BI in Needham’s commitment to the immediate Chestnut Street area has since resulted in a number of office and retail investments around the hospital.

0 Needham Street Businesses Add Outdoor Seating

Posted on July 28, 2014 by Wil Catlin

3 Squares restaurant on needham st adds outdoor seating

Credit: Wicked Local

Businesses in Needham and Newton continue to grow as nearby restaurant owners look to add a new outdoor seating area along the Highland Avenue/Needham Street corridor. This is in response to the new office users/businesses throughout the area looking to take advantage of the amenity-rich corridor.

Wicked local’s coverage notes, “a new outdoor seating area with 26 full-service tables is opening at 3 Squares restaurant. The Zoning Board of Appeals approved the project – which required special authorization because it’s zoned in the Industrial District – last month.”

You can find the full article, here.

0 Needham Street in Newton: Hit by Water Main Break

Posted on July 19, 2014 by Wil Catlin

Store closed in Newton from water main break

Credit: Needham.WickedLocal

Business owners along Needham Street suffered a tough day on Wednesday, July 16th when a water main burst on the Route 9 side at about 9:00am, first flooding and then buckling that portion of the Street. Many businesses were shut down due to this emergency and I can speak personally by saying that as a commercial real estate broker, office buildings along the Needham Street corridor were not accessible for tours with prospective Tenants. Boston Realty Advisors represents two buildings along the Needham Street corridor affected by this water break.

Details on the situation are available on Wicked Local.

0 Newton: Commercial Real Estate Trades in Abundance

Posted on July 19, 2014 by Wil Catlin

Credit: TheRealReporter

Low interest rates coupled with a high activity of development along the Route 128 corridor has persuaded yet another Landlord in the Newton market to divest a few of his properties. Furthermore, the urban infill sector has become extremely competitive over the past 18 months, with Needham and Newton both reaping the benefits of an improved economy and a rise of multifamily and retail offerings on the Needham Street corridor. This has led to more businesses coming to the area and more tenants looking for office space within each market.

For more information on movement within the newton and needham commercial real estate markets, click to view the RealReporter’s pdf.

0 New Location for Charles River Center

Posted on July 18, 2014 by Wil Catlin

Credit: HometownWeekly

The Charles River Center has opened a new facility within Needham becoming the 10th home that the organization has opened to support local adults with intellectual and physical disabilities throughout the community. This serves as additional expansion taking place throughout the area, as residents and business owners are experiencing a boom in development occurring throughout the Town with the addition of new retail and office buildings along the Highland Avenue/Needham Street corridor.

From HomeTownWeekly.com:

“In a press release, John Grugan, President of The Charles River Center, credited a number of town officials for working with the organization to help continue its growth. Among those mentioned in the release, were the Planning Board, the Board of Selectmen, the Finance Committee, and the Conservation Committee.”

0 Needham’s Real Estate Market Slowing

Posted on July 9, 2014 by Wil Catlin

Credit: Pinterest

There is a growing concern amongst residential realtors that the real estate market in Needham is slowing down. Will this have a direct impact on office space throughout Needham and slow the growth for commercial real estate development in the area?

Wicked Local pointed to three key indicators of this trend:

The first clue is that days on market fell from an average of 59 days in February to a mere 24 days in April. But so far in May that number has crept up to 39. Houses appear to be sitting a bit longer.

The second clue is that the number of houses that have gone under agreement fell from 38 in March to 32 in April. So far this month the number is 13. Though we are only halfway through the month, even if you double that figure to 26, it still shows a downward trend.
Continue reading →

0 Wells Avenue Development Debated

Posted on July 3, 2014 by Wil Catlin

Talks of a development taking place in Wells Avenue are underway, as city officials and zoning board of appeal members begin to dissect the development and its impact on the surrounding the area. The development is said to fit nicely into the proposed Needham Street redevelopment plan. As jobs follow younger, educated workers these days, the hope for the project is to give these millennial’s quick and easy access to work, shopping, and restaurants. The Needham and Newton office markets will see a direct impact upon the completion of this development. It does, however, seem like there will be significant time required before either side of the table will move towards a decision.

The Newton, MA vertical of WickedLocal offered commentary on the proposed mixed-use development on Wells Avenue from architect Doug Carr of Cube 3 Studio, who “described the development as “pedestrian-focused.” Carr said it would be six stories high and built around three exterior courtyards, contain 334 pet-friendly residential units, have a café and restaurant, “work bar,” convenience store, swimming pool, bike storage, and even a bike repair shop.”

0 Needham Water and Sewer Rates to Increase

Posted on June 28, 2014 by Wil Catlin

Credit: NeedhamMa.gov

With the recent vote by the Needham Board of Selectmen to increase water and sewer rates in the town for first time in nearly a decade, it will be interesting to see the direct impact this change has on Needham office buildings and the cost for office space throughout the area.

According to a report on Needham.WickedLocal.com, “the specific plan adopted for the next fiscal year introduces a $4 quarterly fee for irrigation meters and a $9 quarterly service charge for sewer use, while also increasing prices per cubic feet for all types of water use.”

The full Wicked Local article can be found, here.

0 Needham Business Leaders Push For Change

Posted on June 27, 2014 by Wil Catlin

Credit: Boston Globe

In an uncharacteristic move by the Town of Needham, two permitting changes were made this June. Needham residents have expressed an urge to enhance Downtown Needham with the hope that the reform will pave the way for more significant growth. Among the changes that have taken place, businesses will now have an easier time altering the façade of their office, flex and industrial buildings. Will this have an impact on the look and feel of Needham/Newton office buildings and their asset class?

Newton.WickedLocal notes, “this will save small business owners the hassle of getting on a Planning Board agenda and posting a public notice, plus the optional expense of hiring a lawyer.”

You can read the Wicked Local article, here.