0 BRA: Big Groundbreakings in Boston in 2013

Posted on December 23, 2013 by Wil Catlin

rendering of Millennium Tower in Boston Seaport neighborhood

Credit: Boston Business Journal

2013 was a big year for construction starts in the city of Boston. Will 2014 be the same as projected? Will construction commence above the Turnpike?

The Boston Business Journal posted a robust review of the top development projects in Boston over the course of the previous year. Among its findings:

One of the biggest events of the year saw construction crews returning to the former Filene’s site in Downtown Crossing…But Filene’s was not the only major development to see construction crews: Across town in Brighton, New Balance began work to convert a previously shuttered manufacturing plant into a new facility; in Westwood, a new team took over the stalled Westwood Station project and now promise to deliver on 2 million feet of mixed-use development along Route 128; in Chinatown, a section of the neighborhood that decades ago was taken to build the Southeast Expressway is now home to construction of a 21-story tower that will provide much needed affordable housing; and in the Seaport District, Skanska got underway with the first office for Seaport Square.

The complete article is available on the BBJ website, here.

0 Downtown Crossing: Strong Value for Class B Office Space in Boston

Posted on December 23, 2013 by Wil Catlin

Where are the value options for a Class B tenant in Boston? Current market data shows that Downtown Crossing has it. Seaport rents have pushed into the low to mid $40’s PSF with limited supply. Options within downtown crossing can still be found with pricing in the mid to upper $20’s depend on building amenities and tenant improvement needs.

Check out our office space in Downtown Crossing listings to determine if the pricing and available options are right for your business needs.

0 51 Sleeper Street in the Seaport District Sells for $60.2 million

Posted on December 18, 2013 by Wil Catlin

Credit: Boston Business Journal

The rents in the Seaport/Innovation District continue to climb. Recently the Class B renewals have pushed to $45 PSF, with that in mind we have a record trade of $60.2 million or $400 PSF.

From the BBJ:

TIAA-CREF has acquired 51 Sleeper St. in Boston’s Seaport for $60.2 million, setting a record sale price for the city’s burgeoning Innovation District of roughly $400 per square foot.

The full article is available on the Boston Business Journal.

0 Innovation District gets Smart Parking Sensors, Time to Destination Signs

Posted on December 11, 2013 by Wil Catlin

Credit: innovationdistrict.org

How smart is your parking space? Well in the Innovation district and Boston Seaport are stepping it up a few notches with a real-time data app from www.streetline.com. Imagine knowing where to go for the nearest spot and no longer circling the block, it’s here in our city!

Banker & Tradesman posted a report on the traffic installations in the Innovation District:

The technology is designed to help manage traffic congestion in the downtown neighborhood. The smart parking sensors and time to destination signs will provide drivers with constantly updated information on available, on-street parking spaces as well as the quickest route to take out of the Innovation District to the highway system during the evening commute. Drivers may begin taking advantage of this new technology on Wednesday, Dec. 11.

The full B&T articles is available on their website.

Alternatively, follow this link to view available office space in the Innovation District

0 BRA Approves $2.3B in New Projects

Posted on November 20, 2013 by Wil Catlin

BRA approves new projects in downtown Boston

Credit: Boston Business Journal

So what does $2.3B look like in the City of Boston? We’ll soon find out. The BRA has just approved seven new projects collectively totaling $2.3 billion.

The Boston Business Journal published a gallery showcasing each of the seven projects. You can view the gallery via the following link: BBJ Slide Show.

0 South Station Redevelopment: Back to the Drawing Board

Posted on November 15, 2013 by Wil Catlin

Credit: Boston Business Journal

The starts and stops at South Station redevelopment – will we see condos or more office space?

A recent article on the BBJ’s website, quotes a senior vice president in Hines’ Boston office:

Seven years after getting permits for a 1.9-million-square-foot mixed-use project anchored by a 47-story office tower, Houston-based developer Hines is headed back to the drawing board. It plans to reduce office space and eliminate a 200-room hotel while increasing the number of residential units, said David Perry, a senior vice president in Hines’ Boston office.

For the full article, head over to the Boston Business Journal.

0 Boston Office Towers: Occupancy Drop; Rents still Climbing

Posted on November 10, 2013 by Wil Catlin

28 State Street – Office Building

Where is the value in office space within Boston? Low and mid-rise Class A.

Tenants in recent years have worked on space efficiency like State Street with their new facility in the Seaport, which will have less than 100 square feet per employee. Additionally, tenants have sought out a flight to quality by moving up in floors during the recent economic downturn and locking in rates for a longer term.

The Boston Business Journal cites a survey by Jones Lang LaSalle, “which examined 46 towers in the Back Bay, Financial District and the Seaport, found 22 buildings where occupancies dropped, while 21 saw increases and three were flat, year-over-year. Within the 31.8 million-square-foot office market, 5.7 million is available to lease – the equivalent of three John towers.”

More information from the survey is available on the BBJ’s website.

0 Boston Tech Companies Throw Dance Party at Lunch

Posted on November 9, 2013 by Wil Catlin

Dance party at lunch in Boston seaport district

Credit: The Boston Globe

It seems that ice cream Friday for the office doesn’t stand a chance, when pitted against a lunchtime dance party. Will this be a new mainstay within the Innovation district or a passing fad?

The Boston Globe reports, “Lunch Beat Boston style is an amped-up dance hour, where the Seaport’s District Hall is turned into a darkened disco, and techies groove to thumping electronica so loud that networking becomes, by necessity, a wordless bounce to the beat with your neighbor…Lunch Beat — a global franchise that started three years ago in the electronic dance music hub of Stockholm — is a noontime rave intended to break up the work routine with a midday jolt of techno tunes. Organizers in Greater Boston held their fourth such rave Wednesday at District Hall, the newly erected center of the city’s budding Innovation District.”

The full Globe editorial is available to Boston Globe subscribers on its website.

0 Boston Seaport District to House New $42M Boutique Hotel

Posted on October 16, 2013 by Wil Catlin

Credit: Boston Business Journal

Boston is home to some of the highest rooms rates in the country for hotels combined with a very limited supply. If you are coming to town to visit one of your new portfolio technology companies in the Seaport you will have a new spot. Sleeper Street, will be home to 136 room boutique hotel.

A Boston Business Journal report reveals, “the 100,000-square-foot Envoy Hotel, to be built at 66 Sleeper St., is slated to include 136 luxury guest rooms as well as a restaurant and bar. The plan also calls for a public roof deck with a bar and lounge that will offer city views. It will be located across the street from the John Joseph Moakley federal court house and one block inland from the Barking Crab restaurant in South Boston.”

Full Details are available on the BBJ’s website: Seaport Hotel set for 66 Sleeper Street

0 Sale of Vertex Towers Being Considered

Posted on October 9, 2013 by Wil Catlin

Credit: Boston Business Journal

If you dream it, build it and lease it; they will come. As much is true at least if you’re Joe Fallon, developer of Fan pier.

A Boston Business Journal report notes that Fallon, the creator of the Seaport’s Waterfront Towers, is considering another sale that would impact that market. According to the BBJ, “Fallon will sell the two Vertex towers on Fan Pier at the right price.”

Further details on the potential sale of Vertex towers can be found on the BBJ.