Category Archives: Seaport Office Space Boston

0 Seaport ‘sausage parcel’ at 399 Congress sells for $36M

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The sausage parcel in the Seaport sells for $36M. Where is this?

Sausage Parcel site in Boston Seaport

Credit: BBJ

According to the BBJ, “the 0.7-acre site at 399 Congress St. in Boston’s Seaport District…is a long, thinly shaped site — almost like a link of sausage — that’s sandwiched between the confluence of East Service Road, Congress Street and what’s now Boston Wharf Road in the Seaport.

You can read more about the Sausage Parcel site at 399 Congress on the Boston Business Journal, here.

Related Commercial Listings
Seaport Office Space

0 Seaport’s Northern Ave. Bridge in it’s last Months

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Seaport Northern Ave Bridge

Credit: Boston Magazine

The Northern Ave. Bridge is scheduled to come down in March. The bridge site is now the gateway to the Seaport, which continues to grow with the recent announcement of GE’s election to move its HQ to the thriving Boston submarket.

From Boston Magazine:

The rusty, sad structure that links downtown to the Seaport is set to be removed in March. But the Northern Ave Bridge wasn’t always such a rickety construction; it became a grand throughway across the Fort Point Channel after it was built in 1908. It’s also one of the remaining few swing bridges in Boston, meaning that it pivots when traffic in the water below needs to pass by.

The steel bridge was closed to vehicles in 1997—and recently to pedestrians in December 2014—after the Coast Guard asserted it was hazardous to cross and in danger of collapsing. The bridge’s demolition seems unfortunate, since the aged platform boasts a distinctive history.

 

0 Seaport Rents Continue to Move North

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new office space in boston seaport is constructed

Credit: Boston.com

A recent Boston.com article references apartment rentals in the Seaport, but what is expected for Class A and B office rents?  Rents will continue to push Northward, which is due to limited supply in the Seaport submarket.  GE moving to town won’t dramatically move the rent needle up or down, but ancillary service providers will continue to chip away at vacancy.

From Boston.com:

“If you look at what has happened since 2011, since post crash,” [Ishay Grinberg, president of Rental Beast] said. “Rents [in Seaport] went on average from about $3,100 to $4,100, from 2011 to 2013.” Then when demand wasn’t high enough, they plummeted almost 20 percent in 2014, but went back up in 2015, increasing 15 percent to an average of $3,850 per month.
Currently, rents are high, but so are vacancies—a rarity for the Boston market….More than 12 percent of all rental units in Seaport are currently vacant, according to Grinberg, while in Downtown only a little more than 2 percent are empty. The Greater Boston vacancy rate is 4 percent. And supply is still coming into Seaport, such as One Seaport Square, will include 832 units.

0 GE Selecting from 8 Boston HQ Options

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South Boston waterfront office space

Credit: Boston Herald

What will GE’s new corporate address be?  Here are 8 locations within the Seaport that can accommodate their 2018 move.

The locations among consideration are listed out in a Boston Herald article:

  • The former Boston Public Schools headquarters at 26 School St. downtown. BPS vacated the historic 11-story, 160,000-square-foot building last year for new space in Dudley Square.
  • The MassDOT building at 185 Kneeland St. on the edge of Chinatown that is made up of three parcels totaling 5.8 acres, with an existing 104,000-square-foot office building that could be renovated.
  • Vacant land at 6 Tide St. in the Boston Marine Industrial Park, owned by the Boston Redevelopment Authority, also in the Seaport District. Current site plans call for a 355,000-square-foot development.
  • A vacant 1.8-acre Massport lot on Congress Street next to the John Hancock building known as “Parcel H” in the Seaport.
  • Massport land at the intersection of Massport Haul Road and World Trade Center Avenue. The vacant lot has the capacity for a 150,000-square-foot office building. It’s located near the Boston Convention & Exhibition Center in the Seaport.
  • Vacant land at the corner of E and D streets, owned by the Massachusetts Convention Center Authority. Both are in the South Boston/Seaport area. The D Street parcel can accommodate a building up to 75 feet in height, and a footprint of 122,000 square feet. The E Street parcel can accommodate up to 10 stories.
  • A vacant 1.2-acre Massport parcel known as “A-2” at the corner of Congress Street and World Trade Center Avenue in the Seaport area. It’s adjacent to the MBTA Silver Line; a planned parking garage is next to the parcel.
  • Two parcels of vacant Massport land, known as “D-2” and “D-3,” at the intersection of Summer and D street in the Seaport District. The approximately 4.9-acre site occupies two of the four corners at the intersection.

 

0 GE Moves Worldwide HQ to Boston Seaport

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GE moves to Boston Seaport

Credit: BBJ

GE is coming, GE is coming!  Boston is different, this is not just a place to have an office, it is an area to foster growth and explore far-fetched ideas and move dreams to reality.

This quote says it all:

“GE aspires to be the most competitive company in the world,” said GE Chairman and CEO Jeff Immelt in a statement. “Today, GE is a $130 billion high-tech global industrial company, one that is leading the digital transformation of industry. We want to be at the center of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities. Massachusetts spends more on research and development than any other region in the world, and Boston attracts a diverse, technologically-fluent workforce focused on solving challenges for the world. We are excited to bring our headquarters to this dynamic and creative city.”

I feel lucky to be practicing RE in this region that attracts companies like GE.

For more info on GE’s move to Boston’s Seaport, jump over to the BBJ’s article.

0 Seaport District Lands Blue Hills Bank

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Rendering of Seaport office building

Credit: Banker and Tradesman

The Seaport district continues to attract a wide array of B-to-C companies that to cater to the ever-growing daytime and nighttime population.

“Blue Hills Bank is set to open a new branch in the Boston’s Seaport District by summer of this year. The new 3,000-square-foot location at 85 Seaport Blvd. will feature user-friendly technology, a coffee bar and community space for receptions and seminars,” according to a Banker&Tradesman report.

You can read the full article, here.

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Seaport Office Space for lease

0 322-story Office Tower Carrying ‘sails’ proposed for Seaport

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Seaport Sails Tower

Credit: Boston Globe

Sails are coming to the Seaport are of Boston, if developer Jon Cronin has his way with the BRA.

From the Boston Globe:

The 250-foot-tall building, designed by architect Howard Elkus, would feature a twisting, angular design out toward the World Trade Center and Boston Harbor. It was inspired, in part, by the city’s recent push for bolder design in the booming Seaport, Cronin said, which has prompted other developers to move beyond the boxy looks that characterized many of the neighborhood’s earlier projects.

“We had already designed a striking yet cost-efficient tower until I attended Mayor [Martin] Walsh’s speech last December urging developers to build more architecturally significant buildings,” said Cronin in a statement. “We decided to meet that challenge.”

0 Envoy Hotel Offers Comfortable Getaway within Boston’s Seaport

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view from Envoy Hotel in Boston Seaport

Credit: Boston Herald

How far is far enough to “get away?”  Well, according to Moira McCarthy the Seaport Envoy Hotel fits the bill.  Check it out next time you are considering a Boston destination.

From the Boston Herald:

Tucked into the edge of Boston Harbor (it gazes down upon the iconic Barking Crab restaurant), the hotel offers a new and distinctive feel for a Boston stay, but with enough classic Boston and seaside to remind us what an amazing city we live in. There’s even a rooftop bar…Warm and almost beachy, and touched with the hotel’s signature yellow and lots of reclaimed wood, the lobby featured classic games such as Connect Four, deep and comfortable conversation-pit-style couches, artistic touches like a chandelier made from reclaimed materials, and an open feel.

You can read a first-person account’s of their stay in the Boston Herald.

0 Boston Global Investors Moves Offices to Seaport

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office building at 1 Post office square in Boston

Credit: Boston Business Journal

Putting their money where their mouth is, Boston Global Investors is moving to the Seaport.  They will be moving to Block H along Seaport Boulevard once construction is complete on their 6,00 square foot parcel.

From the BBJ:

Boston Global Investors will move its headquarters from its current office at 1 Post Office Square in Boston’s Financial District to the Seaport…The firm last week spent $2.21 million to buy a 6,000-square-foot parcel at Seaport Square’s Block H, located along Seaport Boulevard…a four-story office is under construction at the site, and Hynes said Boston Global Investors will relocate there when construction is finished.

With the final parcels trading hands last week, Seaport Square’s 23 acres have officially sold for $665.2 million since 2011. The parcels were originally acquired in 2006, in a deal spearheaded by Hynes with financing from Morgan Stanley, for $203.75 million.

0 Seaport Office Trades Set the Market

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22 Boston Wharf Road building

Credit: Banker and Trademan

Seaport trades continue to set the high water mark with Berkeley disposition of the Stillings Street garage and 22 Boston Wharf Road.

From B&T

A Maryland real estate adviser that manages a $7-billion pension fund’s portfolio has made the latest in a series of big investments in Boston’s Fort Point neighborhood, acquiring four parcels for $162.5 million from Boston-based Berkeley Investments Monday. The latest purchases include the 580-space Stillings Street garage and 55,095-square-foot office building at 22 Boston Wharf Road, which sold for $86.5 million. Berkeley is proposing to add two floors of office space totaling 50,000 square feet…Other transactions include 17-31 Farnsworth St. for $44 million, 12 Farnsworth St. for $30 million and a parking lot at 11 Sleeper St. for $2 million.

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Available Office Space in Boston Seaport