Category Archives: Office Space Boston

0 New Collaborative Office Spaces for Boston Startups

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collaborative office space for boston startups

Credit: dailyfreepress.com

“Collaboration” seems to be the most common term in the lexicon of today’s emerging companies. A company dedicated to dynamic, collaborative office space is helping to ensure the trend has an increasing presence in Boston.

From the Daily Free Press:

“WeWork is a collaborative office space, with more than 2,000 members expected to call the Boston offices home by summer. The office space is shared primarily by early-stage startups that would otherwise not have access to many of the amenities available within the space.”

Additional information on WeWork is provided in the Daily Free Press article.

0 Boston Traffic Got Much Worse in 2013

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commuter traffic in Boston

Credit: Boston Business Journal

Is your commute better or worse than it was 2 years ago?  According to http://www.inrix.com/ Boston leads the charge with the greatest increase.  That combined with the increase purchase order of tractor trailers says that this is a trend that will continue well into the future.

An article on the BBJ, citing traffic data from INRIX, quantifies just how bad Boston’s traffic was in 2013:

“[The Boston metro area’s] congestion index rose 22 percent, the most of any region in the top 10 and the 8th biggest increase of all 100 metro areas. Boston drivers now waste 38 hours a year in traffic, on average. INRIX counts any time spent driving at less than half a roadway’s typical speed as wasted time. Of course, you’ll end up wasting a lot more if you drive on the Southeast Expressway, Boston’s most congested highway based on INRIX’s calculations: A 10-minute drive can turn into 35-minute drive at morning rush hour. (That said, there are plenty of drivers who would tell you they’d be relieved to get through the Expressway in 35 minutes at rush hour.)”

The full article is available on the Boston Business Journal: Boston’s traffic jams.

0 Boston Companies Migrating from Suburbs to Downtown

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Five Hundred Boylston St. in Boston's Back Bay

Credit: Boston Business Journal

Companies continue to look to relocate downtown from outside the city, when they wish to attract younger technology talent. The profile of the new recruit is car-less and prefers walking or public transportation as their primary means of transportation.

A recent example of this migration is VMTurbo. The cloud technology company is moving from Burlington to 500 Boylston St. in the Back Bay.
The BBJ spoke with an HR executive at VMTurbo, and posted the following quote, indicative of the city-bound migration:

“Most of the employees that we hire are not people who own cars for the most part — they use the T,” [human resources executive Veronica] Curran said.

The full article on VMTurbo’s move to Boston’s Back Bay is available on the Boston Business Journal.

0 How Startups Pick their Hometowns

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View of skyline

Credit: BBJ

Frequently when I meet with young companies their initial request is, what will it cost?  My reply is usually is, “ If it was free and the perfect configuration, but in Western Massachusetts, would you take it?”  The reply, “No.”

Companies that are in growth mode care about access to qualified potential employees. In the Boston market we see many companies prefer to be within the city core as opposed to be outside the city for that simple reason. The younger workforce doesn’t own or doesn’t want their commute to involve an automobile.

According to a research report on the Boston Business Journal, here’s are the three aspects that entrepreneurs say actually did sell them on their hometowns:

1. Population & talent

2. Livability

3. Strong area supply chains

The full BBJ article is available, here.

0 Dudley Square Startup Space to Open this Summer

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Office building in Dudley Square in Boston

Credit: Boston.com

Did your company just get funded?  Do you dread going downtown?  Well, Roxbury will be home for startup space.

Boston.com recently reported on the emerging start-up incubator:

Rosenzweig’s non-profit, Smarter in the City, hopes to have an incubator up and running by June, with space for a half-dozen companies. But he’s still in the process of rounding up prospective corporate sponsors to support the idea, and applying for grants from The Boston Foundation and others.

The full Boston.com article is available, here

0 Price of Office Space in Boston’s Innovation District Still Climbing

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How expensive is the Innovation Districtt? Well, Boston’s Innovation District has pulled neck-and-neck with Back Bay. The Innovation District has benefited from a tremendous influx of tenants that could no longer afford East Cambridge and Kendall Square. Now with prices at or above pre-crash levels, the value play is within the low-rise Class A and Class B office space in the Financial District.

Office space in Boston's Innovation district and Back Bay

Credit: Boston Globe

A managing director at Cassidy Turley, David Campbell, recently commented to the Boston Globe, “the Innovation District has offered the most obvious place for the city to grow…the Big Dig and the convention center and the Ted Williams Tunnel have really made it fertile ground for future development.”

More from Campbell is available in the full article, on the Boston Globe’s website.

0 TD Garden Project a Go

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Rendering of the proposed renovation at the TD Garden

Credit: Boston Business Journal

Our outgoing mayor and Boston Properties have struck a deal on the TD Garden project.

According to an article on the Boston Business Journal, “the Menino administration is set to announce that they have reached an agreement with Boston Properties and Delaware North Cos. to allow construction of a 45-story residential tower near North Station and provide a lucrative tax break to support the $1 billion development.”

Full details are available in the original article on the BBJ.

0 Boston Takes 3rd on List of Top Global Office Markets

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Global office market study

Credit: World Property Channel

Boston commercial office rents are expected to continue upward at an annual rate in excess of 10-percent through 2015. This puts Boston third on the international stage, behind Jakarta then Dublin.

According to a report on the World Property Channel forecasting global office market growth, “in the Americas, technology and energy continue to be main drivers for the U.S. real estate recovery, with Boston forecast for 22 percent increase in prime asking rents.”

The complete article is available on the WPC website: Top 10 Global Office Markets (Forecasted)

 

0 The 25 Largest Office Buildings in Greater Boston (via BBJ)

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John Hancock Tower

Credit: Wikipedia

When thinking about your next office do you care to be in one of Boston’s top 25 largest buildings?  Number one is the John Hancock with a total of 1,755,400 rentable square feet that is owned by Boston Properties.

The Boston Business Journal has posted its list of the top 25 largest office buildings in Greater Boston. You can download a pdf containing the complete list of the largest office buildings in greater boston, courtesy of the BBJ.

0 Suburban Banks Trending to Boston Locations

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Credit: The Boston Globe

The banks are coming the banks are coming! It’s true; smaller suburban banks have been expanding their retail presence along with offices to service their city customers. The current population is about 636,479 which is up by 1.8%.

The Boston Globe recently detailed the suburban bank migration to the city, noting “part of the attraction is the prestige and validation that a Boston address can confer on community banks. But more practically, their moves reflect the demographic shift that is swelling Boston’s population. Just as businesses followed people to the suburbs during the urban exodus of the late 20th century, so are they chasing them as the appeal of city life has returned.”

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