0 Suburban Offices Fight the Trend Downtown

Posted on May 28, 2014 by Wil Catlin

Credit: Boston Business Journal

Where should you locate your company office? Most groups I speak with are trying to provide an option that accommodates multiple solutions; easy access from public transportation, amenity rich environment, vibrant workforce and economically feasible.

This doesn’t mean that groups are flocking to the vacant office buildings on 495, but rather looking inside of 128 and more specifically within areas serviced by the Red Line. New hotspots for the emerging tech firms are surrounding the Broadway T stop. This caters to the young workforce residing in South Boston, the commuter coming in from Metro West combined with those either driving or relying on public transit from the South Shore. This area is generally priced in the mid $20’s PSF unlike the Seaport which would price in the upper $30’s to low $40’s for a comparable Class B building.

From the BBJ:

“Some suburban companies are moving to Cambridge and there’s all the buzz about the Seaport District,” said Garry Holmes, president of R.W. Holmes Realty Co. in Wayland. “We’re also seeing the same people who worked at EMC and live in the suburbs launching startups. And they’re convinced the in-vogue thing to do for hiring is to have an office in Seaport. As a result, lots of those startups are bypassing the suburbs and it’s having an impact out here.”

The full article is available on the Boston Business Journal.

0 Boston Residents: Text In Your Choice to Fill Storefront Vacancies

Posted on April 23, 2014 by Wil Catlin

This is a very interesting idea. I would love to see the results and read the texters’ suggestions; I imagine they would likely differ from the residents of the community. Either way, a great reach out program.

Credit: Boston.com

According to Boston.com, city officials are looking to use crowdsourcing to “help reduce the number and duration of business vacancies, increase community involvement, and promote innovation, according to municipal workers spearheading the pilot program.”

Back bay commercial space at 360 Newbury St. in Boston

360 Newbury Street

We’re using our Twitter feed (@bradviors) to garner opinions on what you’d like to see occupy 360 Newbury Street.

Tweet your suggestions using #360Newbury in your message.

You can see the responses here: 360 Newbury Street

0 Cambridge Co-working Office Space Sends Five Entrepreneurs to Shark Tank

Posted on April 22, 2014 by Wil Catlin

Workbar, coworking space in Cambridge MA

Credit: BBJ

Co-working office spaces continue to create a platform where innovative ideas can turn into companies. Yes, I’m a fan of Shark Tank and I love how the show boils a product pitch down to five minutes from pitch to investment.

Reporting on the local angle on the show, the BBJ notes that “entrepreneurs drove from New York, New Jersey and Connecticut to pitch their business ideas at Cambridge co-working space Workbar on Thursday in hopes of getting national exposure on ABC’s Shark Tank…About 100 people were standing in line an hour before pitches started.

The growing interest and relevance of co-working office space in Cambridge is beneficial to both the entrepreneurs, who will spur future growth, as well as the environment and infrastructure that surrounds it.

For details on the five selected entrepreneurs, read the full article on the Boston Business Journal.

0 Boston Emerges as State’s Tech Startup Hub

Posted on April 10, 2014 by Wil Catlin

Has Boston really become the state’s capital for startups? Well yes. This came to be for two primary reasons; public access and cost of real estate. Downtown Crossing, DTX, is serviced by the T’s Red, Green Orange and Blue lines. Combined with the Silver Line and a short walk from South Station it offers employers a great recruiting tool as they vie for new talent.

Economics. Plain and simple. DTX is the last real value play within the Class B market and is what most startups are seeking. Opportunities can still be achieved with in the upper $20’s PSF while most buildings are pricing in the low to mid $30’S PSF.

Click to view or download as a high resolution pdf

The Boston Globe’s niche online business publication, betaboston.com, notes the following:

Last year…Boston accomplished a previously unheard of feat in the tech world by having more venture capital deals than Cambridge — for years the center of gravity of the startup scene in Massachusetts. And a large number of those deals went to companies located outside the Innovation District, in neighboring business zones such as the Financial and Leather districts and Downtown Crossing.

0 Boston Office Market Maintains Strong Results for Landlords

Posted on April 10, 2014 by Wil Catlin

155 Federal Street

The Boston Office market continues to produce strong results for landlords. The low rise Class A and Class B market in the Financial District continue to offer a value option to prospective tenants.

According to news site, news.gnom.es, “First quarter 2014 marked Greater Boston’s fourth consecutive quarter of positive absorption. The market also posted its highest four-quarter positive absorption total since 2007, with 3.6 million square feet absorbed from second quarter 2013 through first quarter 2014.”

The article quotes 542,000 SF of positive adsorption in Boston in the First Quarter. You can read the full article, here.

0 Shared Office Space is Here to Stay

Posted on April 10, 2014 by Wil Catlin

Credit: The Boston Globe

Shared office space is here to stay. Think about it like “Just in Time Inventory,” allowing now companies to focus on the company while having all the amenities of much larger corporations. In short, you pay for flexibility, but that combined with some great peer networking is exactly what clients are looking for.

The Boston Globe defined the shared office space ‘trend’ in a recent article:

“a new kind of office is popping up in neighborhoods from Newton to Chelsea to Boston’s Leather District: communal spaces where you can rent a desk or three on a month-to-month basis, and mingle with other businesspeople around the kitchen’s beer tap at the end of the day. (Unlimited brewskis — or cups of coffee — are included in the rent.)”