0 Boston Commercial Real Estate Market Starts 2013 Strong

Posted on February 5, 2013 by Wil Catlin

The 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 French Restaurant, Bastille Kitchen, to Open on Melcher Street

Posted on January 30, 2013 by Wil Catlin

Photo Credit: Grub Street Boston

The Seaport/Innovation District is not only a live/work area of the city, but now a destination location for a great dining experience. Restaurateur Seth Greenberg’s new bistro will add a touch of French flavor to Boston’s Fort point neighborhood.

Grubstreet.com quotes Greenberg’s vision, “Bastille Kitchen will be the destination dining anchor to Boston’s Fort Point neighborhood that Pastis is to New York’s Meatpacking District.”

0 Eddie Merlot’s Restaurant Opening in Boston’s Seaport

Posted on January 18, 2013 by Wil Catlin

Main dining room at Eddie Merlots restaurant

Credit: eddiemerlots.com

More steak choices are coming to the Seaport. Not long ago dining options were limited to a handful of high-end restaurants and business dining establishments; now the choices according to Zagat are up 35 including; French @ Menton, Italian @ Sportello, New American @ Aurajust, just to mention a few.

A Boston Herald article states, “Eddie Merlot’s, a Fort Wayne, Ind.-based chain of prime aged beef and seafood restaurants, is in the final stages of lease negotiations to open a 300- to 400-seat outpost at the Westin Boston Waterfront Hotel.”

The addition of the popular steakhouse chain would bring a midwestern dining alternative to Boston’s Seaport area.

Details on the proposed address, interior design, and menu items at the Eddie Merlot’s Seaport location are available on the Boston Herald website.

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Boston Seaport Office Space for Lease

0 Law Firm, Goodwin Procter, Moves Offices to Boston Waterfront

Posted on January 17, 2013 by Wil Catlin

Boston waterfront office space at fan pier

Photo: Original image Boston Business Journal; Illustration by BRA

Why do companies go through all the trouble of moving? Many reasons, but that two that stand out are the opportunity to design space that reflects the company’s vision today, and the second is economics.

The design of office space today, compared with 10 years ago, show an evolution to more efficient layouts that incorporate green technology. The financial side is comprised of many factors that can range from rent abatement, tenant improvement dollars, base year expenses and the price per square foot.

The Boston Business Journal on December 21, 2012, reported that “Goodwin Procter signed a letter of intent this week to lease 360,000 square feet in an office building to be built next to the Institute of Contemporary Art in on the South Boston waterfront that Mayor Thomas M. Menino has dubbed the Innovation District. The firm would move 860 attorneys and support staffers to the new building, which would also include a 135-room hotel and retail space.”

The complete article, Goodwin Procter to Waterfront, is available on the Boston Business Journal’s website.

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Office space for lease near the Boston Waterfront

0 Melcher Street Grows into Hub

Posted on January 10, 2013 by Wil Catlin

Offices on Melcher Street in Boston named 'M Block'

Photo Credit: Stuart Cahill for the Boston Herald

The Seaport District continues to evolve with a new micro market on Melcher Street, designated as “M Block.” This is a combination of residential, office and retail on what was once a cut through. Now it will be a destination location accommodating todays changing lifestyle that is mirrored Meatpacking District in New York.

Office rents for Class B space have jumped to the low $40’s PSF with very few available options.

According to a report by Donna Goodison of the Boston Herald, “a new campaign branding it as the “M Block” is designed to draw attention to the restaurant, office and residential projects bringing new life to the street of former warehouse buildings probably best known for the old elevated pedestrian bridge that stretches above it.”

Follow the link for more information on the development of Boston’s M Block.

0 Financial District Shows Improvement; Seaport Reigns Supreme

Posted on January 8, 2013 by Wil Catlin

The office market continues to tighten, but the best value opportunities still exit in the Financial District with Class B Rents in the low to mid $30’s.

Banker and Tradesman reports that “Boston’s Financial District registered a vacancy rate of 11.9 percent at the year’s end, an improvement of four percentage points over the year.”

Additional details are available on the Banker and Tradesman website.

0 Arnold Worldwide Considers Relocation To Filene’s Building in Downtown Crossing

Posted on January 4, 2013 by Wil Catlin

Photo Credit: Banker & Tradesman

Will they or won’t they? If Arnold Worldwide takes the plunge, it would be great move for the community; bringing a large workforce to the once famed Burnham building that has been vacant for years. With market rents in the Financial District hovering about 15 – 20 percent below Back Bay, this could create an interesting domino effect.

According to an article on Banker & Tradesman, “a marquee anchor tenant like Arnold for the property known as the Burnham building could be the golden ticket project developer Millennium Partners needs to secure financing and start construction of a 625-foot, 600-unit residential skyscraper adjacent to the Burnham.”

0 Battery Ventures Moving to Boston’s Seaport District

Posted on January 4, 2013 by Wil Catlin

The word is the Seaport office market is very tight, but not too tight for Battery Ventures. Companies continue to migrate into the city to capitalize on a vibrant workforce. Younger employees seem to want to be located within the city so they can take advantage of the many new residential communities and expanding list of restaurants.

According to the Boston Business Journal, Batter Ventures “is negotiating a lease at One Marina Park Drive, a building owned by The Fallon Co. that also houses the MassChallenge startup accelerator. The firm expects to move into the building in late 2013.”

For more information, continue reading the BBJ’s coverage, here.

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Seaport Office Space for Lease

0 Boston Innovation Center to Open this Spring

Posted on January 2, 2013 by Wil Catlin

Photo Credit: Hacin & Associates.

Boston’s new Innovation Center is scheduled to open in the Seaport district this Spring. The one-story, 12,000-square foot structure will primarily consist of meeting rooms. It may include a café, and seating areas where visitors can work for a few hours on a laptop.

0 Boston Address A Strong Lure for Prospective Employees

Posted on December 14, 2012 by Wil Catlin

Tenants continue to migrate downtown from neighboring submarkets as well as the suburbs. Downtown rents offer a great value combined with a strong talent pool and great area amenities. Employers are finding that a Boston address has become what today’s prospective employee values when seeking out job opportunities.

Available Downtown Office Space
Boston Commercial Real Estate Listings