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).

0 How Startups Pick their Hometowns

Posted on February 18, 2014 by Wil Catlin

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 Demand Grows for Office Tower at Seaport’s Pier 4

Posted on February 8, 2014 by Wil Catlin

Credit: Boston Herald

Will the Seaport see a new tower in the near future? Office demand is strong and New England Development is looking to accommodate.

According to a recent Boston Herald article, “strong demand for new Seaport District office space has prompted New England Development to settle on an office tower for the second phase of its 1 million-square-foot, mixed-use Pier 4 project.”

The full article is available here: Boston Herald real estate

0 Five Noteworthy Retailers Headed to Newbury Street

Posted on January 30, 2014 by Wil Catlin

Newbury Collection of retail stores on Newbury Street in Boston

Credit: TheNewburyCollection

Newbury Street has some new attractions, from food to 3-D printing.

A list of five new, noteworthy inhabitants of Boston’s Newbury Street was compiled by the Boston Globe yesterday:

“The Newbury Collection, a stretch of boutiques, spas, and restaurants that run along nearly the full length of Boston’s fashionable Newbury Street, has signed leases with five new tenants, including Drybar, a now-open blow-dry bar, and a burger joint called Shake Shake that is expected to open in September, said Jamestown, the real estate firm that owns the portfolio.”

The full article is available to Boston Globe subscribers.

0 888 Boylston Street Office Tower Sets 2014 Launch

Posted on January 30, 2014 by Wil Catlin

Credit: The Real Reporter

Back Bay continues its foothold as strongest office market in New England. The Boston Marathon and Duck Tour Parade route will pass Boston Properties’ newest landmark tower, 888 Boylston Street which is schedule to start construction in Spring of 2014.

According to The Real Reporter, “Prudential Center owner Boston Properties has an office tenant in tow that would enable the proposed 17-story, 442,000-sf building to proceed. Market sources claim Natixis Global Asset Management, a French conglomerate that owns homegrown Copley Real Estate Advisors, is negotiating for an estimated 115,000 sf to facilitate a relocation from its 399 Boylston St. home a few blocks east on the opposite side of the Back Bay boulevard.”

Additional details are available in the Real Reporter’s post.

0 Tech Banking Office opens in Financial District Boston

Posted on January 17, 2014 by Wil Catlin

Boston is home to some creative entrepreneurial companies that innovate continuously. Wells Fargo, amongst others, are after their deposits and corporate banking requirements. The days have gone by of old school banking, we now, as customers, require Apps.

From the BBJ:

“Wells Fargo & Co. is expanding its Silicon Valley-based technology banking group into Boston, and it has pinched executives from two high profile competitors to run the new office…The Boston office at 101 Federal St. will be run by commercial bankers Debra DelVecchio and David Dickinson.”

The full articles is available on the Boston Business Journal’s website.

0 The Block on Congress Reinvented

Posted on January 8, 2014 by Wil Catlin

Credit: Boston Herald

An era gone by, no longer will the Fidelity sign hang at 82 Devonshire Street. Related Beal acquired the 343,000 square foot portfolio and is in the process of reviewing plans to revitalize the retail storefronts. Boston developer Related Beal has acquired a five-building portfolio in the Financial District from Fidelity Investments with plans to upgrade its office and retail space.

Stephen Faber, executive vice president of Related Beal, commented on the opportunity in an article on Banker & Tradesman’s website:

“Rarely do you have the opportunity to reposition and reinvent an entire city block, especially one in the heart of downtown Boston,”

The full article is available, here.

0 Boston Office Market Transitions out of Recovery

Posted on January 8, 2014 by Wil Catlin

The Boston office market is in a state of recovery and rents are continuing upward. Within the Class B market, Boston is experiencing reduced vacancy as companies are continuing to seek out value options. Buildings in the Downtown Crossing Class B market have seen strong rent growth in 2013 and are now priced in the low $30’s PSF.

According to the BBJ “the overall amount of available space [in Boston], including sublease space, rose to 18.3 percent in Q4, up from 16.7 in Q4 of 2012. That change reflects nearly 300,000 square feet of negative absorption.”

Additional information is available on the Boston Business Journal website.

0 James Hook site at Fort Point Channel: Rumored Development Plans

Posted on December 23, 2013 by Wil Catlin

Credit: Boston Business Journal

The skyline along Atlantic Avenue overlooking the Seaport/Innovation district will have some new company in 2014.

The Boston Business Journal is reporting potential development on the former James Hook & Co.’s waterfront building:

the Hooks are proposing a building of undetermined size on the site at 436-440 Atlantic Ave. to house a “rustic” lobster restaurant on the ground floor. It is unclear whether the building would contain offices or apartments.

For additional information, jump over to the BBJ.

Alternatively, you can view Seaport office space for lease by following the link.

0 TD Garden Project a Go

Posted on December 11, 2013 by Wil Catlin

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.