Category Archives: Seaport Square Real Estate

0 The Creation of a Neighborhood: Boston’s Seaport

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Boston Seaport sq.

Credit: BBJ

What does it take to build a neighborhood in Boston? The creation of the Seaport is just that: in just over a decade we have gone from dirt lots, through planning, to a famed destination location that supports life, work & play.

Urbanland recounts a number of key milestones that propelled the development of the contemporary Boston Seaport:

With the completion of the Big Dig, it became clear that there was “an opportunity to develop a new city” in the Seaport, recounts Charles Leatherbee, director of development for Skanska USA, which has constructed multiple office and residential projects there since, including a 225,000-square-foot (21,000 sq m) office project in the marine park that broke ground in June. Observes Leatherbee, “Make no mistake, the Seaport has access to the single greatest resource the city has—the harbor—and they’ve been able to develop something quite cool, in my view.”

Additional Market Info
• Boston Seaport Real Estate
• Office Space for Lease in Boston Seaport

 

0 How Stable is Boston’s Flourishing Seaport?

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Boston’s Seaport will continue to be on the forefront by planning ahead as construction and development continues. Lower-Level and 1st-floor space is no longer used for utility infrastructure, developers and landlords. New projects house these systems on the 2nd floor or the roof, where appropriate.

Seaport Square Boston

Credit: The Architect’s Newspaper

290 Congress Street, owned by Boston Properties, utilizes a water fence that gets installed should it be necessary. To-date this has only been used once in March of 2018.

From the Financial Post:

in this old city’s booming Seaport District, General Electric is building its new world headquarters, Amazon is bringing in thousands of new workers, and Reebok’s red delta symbol sits atop the new office it opened last year. Three businesses are testing self-driving cars, other dynamic companies are planting their flag, and trendy restaurants and apartments have gone up virtually overnight. But after bad flooding during a storm this past winter, critics wonder whether it was a bright idea to invest so much in a man-made peninsula that sits barely above sea level.

Environmental activists warn much of the district, transformed from a wasteland of surface parking lots, rotting piers and abandoned rail yards into an economic engine and one of the city’s most expensive neighbourhoods in a matter of years, simply isn’t prepared for the long haul.

 

0 One Seaport Square in Boston

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One Seaport Sq office building

Credit: Bldup

The following is some insight into 1 Seaport Square which is a 1.5 million square foot project 22 stories tall with expected completion in June of 2017.

From Bldup:

One Seaport Square is Boston’s largest mixed-use project in over 30 years, encompassing 1.5 million square feet over three acres of land. Located in the heart of the Seaport District, One Seaport Square will feature two residential and retail buildings, The Benjamin (22 stories tall) and VIA (20 stories tall), built to the highest standard of modern luxury and featuring sweeping Boston skyline and Boston Harbor views. One Seaport Square will qualify for LEED Silver sustainability certification…250,000 square feet of exclusive retail will be located at One Seaport Square across both buildings’ first three stories.

You can read the full overview of 1 Seaport Square on Bldup.

0 Seaport Office Space Continues to Expand

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The Seaport office market is poised to grow yet again by adding 298,700 square-feet on Parcel Q1 for a total height of 163 feet.

The entire Seaport office market looks like:

There are 97 office buildings in the Seaport District, for a total of 11,339,861 square feet of office space:

• 11 Class A buildings, totaling 4,141,571 square feet
• 60 Class B buildings, totaling 6,004,891 square feet
• 25 Class C buildings, totaling 1,193,399 square feet

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Seaport Office Space for lease

 

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 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.

Related Listings
Available Office Space in Boston Seaport

0 12 Acres in Seaport Square Sells for $359M

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seaport square development in Boston

Credit: Banker&Tradesman

Trades continue to happen in the Seaport with W/S Development buying 12.5 acres for $359 million.

Banker&Tradesman reports “the parcels, which stretch from Northern Avenue to Summer Street, are the last available developable tracts within the master-planned Seaport Square that is reshaping the waterfront…They’re preapproved for 2.8 million square feet of development, including 1.25 million square feet of residential buildings, 500,000 square feet of stores and restaurants, 400,000 square feet of office space and three hotels. The land also includes a park currently being built between Seaport Boulevard and Northern Avenue, and the completed Q Park on Stillings Street.”

You can read more about the final developable area within Seaport Square on B&T’s website, here.

0 Seaport Shuttle Service Looks to Reduce Area Traffic

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traffic in Boston Seaport

Credit: Boston Globe

The success of the Seaport/Innovation District has created commuter chaos.  The city leadership is looking at ways to mitigate this by decreasing 20 private bus routs down to just two.  Office landlords have offered shuttle service to and from their buildings to commuter hubs like North and South Stations, which is great, but not with 20 buses making the same route at the same time.

According to the Boston Globe, “Consolidating the shuttles was a key piece in a far-reaching plan, funded by waterfront players, to address the gridlock. The report, made public in January, offered a long list of fixes big and small, from repairing and reopening the old Northern Avenue bridge for vehicular traffic to adding more Hubway bike-sharing stations in the area…Workers would show an ID to hop on board for free, just as they do now. Members of the public wouldn’t typically be allowed, though Peterson said shuttle drivers may wave them through on bad weather days. Eventually, other companies would be invited to join, and trips to the Back Bay and other locations could be considered.”

You can read the full article on the Boston Globe, here.

 

0 Seaport Square Moves into Next Phase of Development

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Overhead rendering of Seaport Square in Boston

Credit: BBJ

What changes are occurring in the Seaport Square area of Boston?

According to the BBJ, “the original 23-acre Seaport Square master plan was approved back in 2010….for [a] residential component [that] included plans for two 550,000-square-foot towers. But the design has since changed to three 350,000-square-foot towers with a large-scale public plaza, which architects Kohn Pederson Fox Associates of New York say could mark a “turning point” for the neighborhood.”

The Bizjournals site has also posted a video reviewing the current design plans for Boston’s Seaport Square.