0 Office Tower Proposed in Downtown Boston in Winthrop Square

Posted on October 5, 2014 by Wil Catlin

Is a new tower coming to downtown Boston, in Winthrop Square? Time will tell, but repurposing the shuttered garage site would be a welcome change.

rendering of new proposed office tower in boston financial district

Credit: The Boston Globe

According to The Boston Globe, the re-imagined tower “of up to 740 feet…would be a new centerpiece on the city’s rapidly changing skyline…The building would occupy one of the last major development sites in the Financial District, replacing a decrepit city-owned parking garage at Winthrop Square with a skyscraper that could cost as much as $900 million to build.”

The Globe article also includes a photo gallery of the proposed downtown Boston tower.

0 Office Buildings Planned Near Faneuil Hall

Posted on September 16, 2014 by Wil Catlin

rendering of office space on Quaker Lane in Boston

Credit: The Boston Globe

Quaker Lane in Boston? Must admit, some would have no idea where it is located. Well, changes are coming. This road is surrounded by the former Fidelity headquarters that was sold and is located near the intersection of Congress and State Streets. The proposed plan is to add retail services on the ground for, renovate the offices above and add residential component.

From the Boston Globe:

“A Boston real estate firm is proposing to redevelop a drab cluster of office buildings near Faneuil Hall into a more modern commercial complex with restaurants, stores, hotel rooms, and residences.”

“Our plan is to rejuvenate the entire block through a mixed-use redevelopment strategy,” said Stephen Faber, executive vice president of Related Beal. “These buildings and this location present us with the opportunity to . . . create a real destination.”

0 More Office Towers Wanted in Boston

Posted on August 1, 2014 by Wil Catlin

The Boston office market needs more towers to accommodate the forecasted future growth and tenant demands of strong infrastructure with abundant amenities. Tower’s no longer solely focus on traditional tenants, now prospective tenants range technology firms to ecommerce.

Credit: Wikipedia

Cathy Thompson, Executive vp at DTZ, discussed in an interview with the BBJ the notion that Boston is still very much a landlord’s market:

“In the Back Bay and Seaport submarkets, vacancies in the Class A towers are in the low single digits. Some the spaces in the upper floors in the Back Bay towers are commanding rents in the $80s (per square foot). In the Seaport, the top rents are in the low $60s in the new spaces. There’s a flight to quality, an upgrading of space. Landlords are taking advantage of the fact that there isn’t much high quality space available right now for blocks of space above 75,000 square feet.”

The full interview with Ms. Thompson is available on the Boston Business Journal’s website.

0 Boston Harbor Towers: Rendering and Prospective View

Posted on July 28, 2014 by Wil Catlin

The new proposed look of Chiofaro’s Waterfront project was unveiled last night. What does a $1B 1.3milling square foot project look like? Well, like the envisioned Harbor Towers.

The Boston Globe offers a “rendering showing a view of the new Harbor Towers buildings from the harbor. The new buildings are at the center of the rendering, to the right of the existing Harbor Towers buildings”:

Credit: The Boston Globe

Continue on to the Globe’s website for additional photos of the view from the water, towards the Financial District.

0 Tower Considered at Back Bay Station

Posted on June 23, 2014 by Wil Catlin

rendering of proposed tower at Back Bay station

Credit: Boston Globe

The Back Bay skyline could see yet another change on the horizon. Plans state that there would be one high rise and at least one mid-rise tower on the site. The present building was designed by Kallmann McKinnell & Wood and opened in 1987. That building replaced the older station that opened in 1928 for New Haven Railroad.

The Boston Globe reported on the considered remodeling of Back Bay Station, nothing “the owner of the John Hancock Tower in Boston is negotiating with Governor Deval Patrick’s administration to renovate and manage the MBTA’s Back Bay Station in exchange for the right to build a towering complex of residences, stores, and offices… [it would include] a skyscraper and at least one other building above the rehabilitated station, which would get a new retail arcade, ventilation upgrades, and a glass facade along Dartmouth Street.”

The full Globe article is available online, here.

0 Starbucks Opens Waterfront Retail Location at Boston’s Fan Pier

Posted on May 3, 2014 by Wil Catlin

Starbucks has crossed the Fort Point Channel into the Seaport with its new location at Fan Pier.

Credit: fanpierboston.com

From the WSJ’s Market Watch:

“Lease agreements have been reached with each of the new tenants to occupy more than 21,450 square feet of existing space on the lobby level of Fifty Northern Avenue, one of two build-to-suit towers – along with Eleven Fan Pier Boulevard – housing Vertex Pharmaceutical’s global headquarters…Starbucks Coffee Company’s Fan Pier location will occupy 2,100 square feet of street floor space, which is expected to open in the summer of 2014.”

0 Burnham Building in Millennium Tower Lands Fashion Retailer

Posted on April 28, 2014 by Wil Catlin

Burnham office Building at the Millennium Towers Complex

Credit: Banker & Tradesman

Another new lease for the Downtown Crossing, this time its retail. Headquartered in Dublin Ireland, www.primark.com was founded in 1969 and today operates 250 store in eight countries.

From Banker & Tradesman: “Fashion retailer Primark has signed a long-term lease for 112,000 square feet at the Burnham Building in the Millennium Tower complex at Boston’s Downtown Crossing…Dublin-based Primark’s first U.S. store will occupy four floors in the eight-story Burnham Building, including 70,000 square feet of retail floor space.

View Listings: Downtown Crossing Office Space

0 Boston Emerges as State’s Tech Startup Hub

Posted on April 10, 2014 by Wil Catlin

Has Boston really become the state’s capital for startups? Well yes. This came to be for two primary reasons; public access and cost of real estate. Downtown Crossing, DTX, is serviced by the T’s Red, Green Orange and Blue lines. Combined with the Silver Line and a short walk from South Station it offers employers a great recruiting tool as they vie for new talent.

Economics. Plain and simple. DTX is the last real value play within the Class B market and is what most startups are seeking. Opportunities can still be achieved with in the upper $20’s PSF while most buildings are pricing in the low to mid $30’S PSF.

Click to view or download as a high resolution pdf

The Boston Globe’s niche online business publication, betaboston.com, notes the following:

Last year…Boston accomplished a previously unheard of feat in the tech world by having more venture capital deals than Cambridge — for years the center of gravity of the startup scene in Massachusetts. And a large number of those deals went to companies located outside the Innovation District, in neighboring business zones such as the Financial and Leather districts and Downtown Crossing.

0 Boston Office Market Maintains Strong Results for Landlords

Posted on April 10, 2014 by Wil Catlin

155 Federal Street

The Boston Office market continues to produce strong results for landlords. The low rise Class A and Class B market in the Financial District continue to offer a value option to prospective tenants.

According to news site, news.gnom.es, “First quarter 2014 marked Greater Boston’s fourth consecutive quarter of positive absorption. The market also posted its highest four-quarter positive absorption total since 2007, with 3.6 million square feet absorbed from second quarter 2013 through first quarter 2014.”

The article quotes 542,000 SF of positive adsorption in Boston in the First Quarter. You can read the full article, here.

0 Boston Office Market is on Fire!

Posted on March 13, 2014 by BonnyDoorakian

office space at 109-129 Kingston Street in Boston

WOW! This market is on fire ! I haven’t seen the market this competitive for tenant’s trying to lease office space in years !! The last several commercial office lease deals I have done in Boston have ended up with multiple tenants competing for the same space. My advice to tenants out there is to keep your options open, choose more than one possible option when looking for office space because you never know when you may be out bid. If you find a space you love, just grab it quickly, time is of the essence in today’s market.

Follow the link to view available office space in the downtown area: Boston commercial office space

If you’d like any assistance, have questions, or would like to schedule a showing, please contact Bonny L. Doorakian at bdoorakian@bradvisors.com, or by phone at 617.850.9655 (tel), 617.763.2919 (cell).