0 Boston Companies Face Shortage of Developer, Engineering Talent

office building in technology square in Boston

300 Technology Square, Cambridge

Are you looking to hire web developers are part of your growth into new office space?  If yes prepare for some competition.  Employers are thinking beyond just salary when it comes to new hires some items that hit the list are:

  • Location, Location, Location
  • Being centrally located Downtown with easy access to commuter rail is top priority
  • Catered food services for all meals
  • Concierge for daily tasks such as meeting the Cable Guy at home.
  • Cool, fun and innovative office environment
  • Health Wellness program – Health club membership

According to the BBJ, “Companies are increasingly trying to make it more attractive for these Web experts to stay at firms. “When these guys are on the market there’s so much demand for them that they’re getting snapped up within a day or two.”

What are you offering and how does it stack up?

0 How Startups Pick their Hometowns

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 Cambridge Office Rents Push Out Small Businesses

Cambridge Center office space in Cambridge Mass

4 Cambridge Center, Cambridge, MA

If you’re a CEO of o a small software company that has recently been funded where do you go?  Well the next question is what can you prudently afford. Gone are the days of leasing as much space as you can and hoping for revenue. Today’s decision makers would love to continue to grow their business within close proximity of the think tanks at Harvard and MIT; the reality, however, is that those locations are being gobbled up by the large publicly-traded tech companies with a worldwide presence. The notion of paying $60 PSF doesn’t affect them as much when you compare it to pricing in London or Singapore.

The Boston Business Journal describes the surge in Class A office space in Cambridge, identifying the “one-year increase roughly equates to a 25-to-30 percent price hike for tenants seeking a new or expanded beachhead in the Bay State’s innovation hub.”

You can check out office space available in Cambridge or read the BBJ’s article.

0 Innovation District Attracts Another Corporate Giant

Boston waterfront in the Innovation district at night

Photo Credit: InnovationDistrict.org

Rents continue to rise, but with that comes landlords willing to build new buildings.  Office rents have continued up quarter over quarter within the Seaport and Innovation District. However, according to an article in The Boston Globe, “accounting giant PricewaterhouseCoopers LLP is negotiating to occupy a 16-story building that would be built along Seaport Boulevard.”

The complete article is available to all readers on The Boston Globe website: PWHC to Lease Office Space in Innovation District

Related Commercial Real Estate Stats
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0 Boston Commercial Real Estate Market Starts 2013 Strong

Office building at 1 Financial Center in Boston massThe 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”

Specific areas of growth in the Boston office market are detailed on the Boston Business Journal’s article, here. Alternatively, follow the link to preview available office space for lease in Boston.

0 Office Space at 400 Technology Square in Cambridge Filling Fast

Office space for lease at 400 technology sq. in kendall square, cambridge

(Photo via Boston Business Journal)

East Cambridge/Kendall Square continues to push rents upward and vacancy down. 162,000 square feet of new leases have been signed at 400 Technology Square. Asking rents in the East Cambridge/Kendall Square submarket for Class A space will start in the low $50’s per square foot.

Among the new tenants, the Boston Business Journal reports, “The Ragon Institute, Massachusetts Institute of Technology, Harvard University, Epizyme, Warp Drive Bio and Aramco Services Co.”

More information is available on the BBJ website.

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