0 New Shared Workspaces Opening in Kendall Square

Posted on by
210 Broadway Street in Kendall Sq. in Cambridge

210 Broadway St. in Cambridge, MA

In light of the fierce competition of office space in Kendall Square, another shared-space option has put its stake in the ground, catering to the small user. For $400 per. month, you too can have a place to call “The Office” at 210 Broadway.

According to the BBJ, “NGIN, whose name was chosen because it sounds like engine, will open a 15,000-square-foot center 210 Broadway in Cambridge’s Kendall Square to serve as a “living lab that deploys advanced technology to explore the future of worklife,” according to the company’s marketing materials. The company is competing against Cambridge Innovation Center, Workbar, Dogpatch Labs and Geek Offices for a growing niche market.”

For more info, you can read the full BBJ article, here.

Related Real Estate Listings
Office Space in Kendall Square

0 Mayor Menino’s Departure to Impact Boston Real Estate

Posted on by

Credit: Twitter.com @mayortommenino

Should we expect the new mayor of Boston address commercial development differently in the city? YES. We can agree or disagree with Mayor Menino, but change is coming.

The Boston Business Journal alluded to the prospective impact of Mayor Thomas M. Menino’s departure on the Boston real estate market:

“developers are salivating at the prospect that a new mayor will jump-start stalled projects that have been shunned by Mayor Thomas M. Menino…a handful of proposed commercial real estate projects have faced roadblocks at City Hall…But all that could change in January when Menino retires, a move that could also lead to changes at the top of the Boston Redevelopment Authority.”

You can read the full article on the Boston Business Journal’s website.

0 Boston Gets ‘Fresh Food Truck’

Posted on by

Boston now has a food truck offering fresh raw vegetables and fruit.  It seems gone are the days of a truck that serves items that have been cooked or assemble weeks prior with little consideration for presentation or freshness. I wonder if you could request the bus to show up at your office or neighborhood using UBER?

Fruit Truck, fresh fruit bus in Boston

Credit: The Boston Globe

(more…)

0 Cambridge Office Rents Push Out Small Businesses

Posted on by
Cambridge Center office space in Cambridge Mass

4 Cambridge Center, Cambridge, MA

If you’re a CEO of o a small software company that has recently been funded where do you go?  Well the next question is what can you prudently afford. Gone are the days of leasing as much space as you can and hoping for revenue. Today’s decision makers would love to continue to grow their business within close proximity of the think tanks at Harvard and MIT; the reality, however, is that those locations are being gobbled up by the large publicly-traded tech companies with a worldwide presence. The notion of paying $60 PSF doesn’t affect them as much when you compare it to pricing in London or Singapore.

The Boston Business Journal describes the surge in Class A office space in Cambridge, identifying the “one-year increase roughly equates to a 25-to-30 percent price hike for tenants seeking a new or expanded beachhead in the Bay State’s innovation hub.”

You can check out office space available in Cambridge or read the BBJ’s article.

0 Cambridge Office Space Consumed by Tech Companies

Posted on by

Office space at Two Cambridge Place in Cambridge, MACurrently the East Cambridge/Kendall Square office market continues to see tight vacancies with increased rents. Of the 27 Class A buildings that list availability the average asking prices is $58.17 PSF this includes direct and sublets.  The rumblings are these prices will continue to march North squeezing those with limited financial capacity. The squeeze is due, in large part, to an influx of technology companies consuming clusters of prime commercial real estate in Cambridge.

According to a recent BBJ editorial, “the list of companies swallowing chunks of new space and driving up rents in the process reads like a Who’s Who of Silicon Valley. Amazon.com just locked in 100,000 square feet at 101 Main St., while Oracle Corp. and Twitter Inc. recently rolled up a flurry of acquisitions to bring their local footprints to 82,000 square feet and 30,000 square feet, respectively. Facebook is on the prowl for a local 5,000-to-10,000-square-foot toehold, while Google Inc. remains Boston Properties’ best friend as it incrementally adds to the 300,000-plus already under contract at 4 and 5 Cambridge Center.”

Follow the link to read the full Boston Business Journal article, Cambridge tenants get whipsawed by big tech

Cambridge Office Space for Lease
Commercial Real Estate in Kendall Sq.

0 Boston and Houston Markets Catalyze Drop in National Vacancy Rates

Posted on by

Commercial real estate in Boston ranks forth in vacancy rates among U.S. office markets.

“According to new data from leading real estate company CB Richard Ellis, vacancy rates fell in 10 out of 13 of America’s largest office markets in the second quarter, with Houston and Boston charging the decline,” an article on ipinglobal.com states.

US office market statistics

Credit: ipinglobal

The original article and additional analysis is available on ipinglobal’s website

0 Boston Cityscape: Blend of Historic and Modern

Posted on by
Boston public garden

Photo Credit: Wikipedia

Boston in the eyes of our kids is much different than our own. I had the benefit of a field trip with my first grader, and he has fallen in love with the swan boats in the public garden. Cranes, cranes and more cranes. “Dad what are they building over there?” This seemed like a constant question now, but when we look back 5 years, who knows what will have already been transformed.

Craig Douglas of the BBJ aptly articulates the blend of modern and historic elements that’s germane to Boston:

“What is most amazing about Boston is the fact that it is all so new. Cranes and work crews are everywhere, as are restaurants and hipster worker bees. New glass. New granite. Green space galore. Clean causeways and spit-shined store shingles, all this in a near 400-year-old city.”

The full article is up on the Boston Business Journal’s website: Boston – something to behold

0 157 Berkeley Street is 8th Largest Office Building in Back Bay

Posted on by
Berkeley Street office building in Boston's Back Bay

Photo Credit: Boston Business Journal

Back Bay’s newest address unveiled in a big way; in fact, 157 Berkeley Street opened as the 8th largest office building in Back Bay.

Here’s the complete list:

1.      John Hancock Tower – 200 Clarendon Street – 1,755,398 RSF

2.      The Prudential – 800 Boylston Street – 1,207499 RSF

3.      111 Huntington Avenue – 859,053 RSF

4.      500 Boylston Street – 760,000 RSF

5.      200 Berkeley Street – 747,000

6.      131 Dartmouth Street – 609,000 RSF

7.      501 Boylston Street – 607,685

8.      157 Berkeley Street – 580,000

The newly completed 157 Berkeley St. will serve as the new Back Bay HQ of Liberty Mutual. The Boston Business Journal covered the ribbon cutting ceremony at the new 22-story office building in the Back Bay, and described the scope of the project:

“Liberty Mutual broke ground on the $300 million expansion project in 2010. The 590,000-square-foot building at 157 Berkeley St. building will accommodate more than 600 new, full-time Liberty Mutual Insurance employees at the expanded Boston offices.”

The complete BBJ article is available on the Boston Business Journal website.

0 Green Office Space: How Much of a Consideration is it for You?

Posted on by
office space interior at 75 state street in Boston

Photo Credit: Boston.com

How important is reducing your carbon footprint when you are searching for new office space?  This question does not come up with all clients that are looking for space, but I would say that most care.  Being that they care doesn’t mean they would like to spend more for it; they would be most interested when their green efforts could also reduce the cost to run the building. For example, lower HVAC costs result from better insulation and more efficient building systems.

What is LEED? LEED, or Leadership in Energy & Environmental Design, is transforming the way we think about how our buildings and communities are designed, constructed, maintained and operated across the globe. Comprehensive and flexible, LEED is a green building tool that addresses the entire building lifecycle recognizing best-in-class building strategies.

Landlords use LEED Certification to differentiate themselves amongst their peers. Some claim to be the first LEED Gold certification while others claim the most improved say from Silver to Platinum. Massachusetts currently ranks 4th amongst all states with 106 projects certified in 2012 or 13,395,597 square feet.

Boston.com recently noted Grant Thornton’s green considerations in its relocation to the Financial District, “Another benefit of the new office: It is designed to help reduce the firm’s carbon footprint…All workspaces have access to natural light as well as to modern conference and team rooms.”

0 Boston Waterfront Real Estate Booming

Posted on by
building at 200 Seaport Boulevard in Boston's waterfront

World Trade Center Boston, 200 Seaport Blvd.

Well, call it what you’d like: Seaport/Innovation/Fort Point; the reality is the area has blossomed for a myriad companies. Since the sale of the Boston Wharf portfolio we have seen a steady influx of capital to renovate old, tired buildings that had roof leaks, failing windows, and inoperable elevators. The addition of the Turnpike exit and the convention center has added to the core infrastructure that’s helping to accommodate the demand for office space and housing. In the past 30 months, rents in Class B buildings have increased from the upper $20’s to the low $40’s PSF.

Banker & Tradesman recently explored the roots, and validity, of the waterfront’s building ‘boom’:

“with Menino riding into the sunset, it’s high time to find out whether the so-called waterfront building boom is real or instead government-driven at the behest of one of the nation’s most powerful big city mayors.”

B&T’s complete article is available here