0 Back Bay Building Purchased by Fisher College for $12M

Posted on by
Back Bay building on Arlington St in Boston

Photo Credit: Boston Business Journal

 

Another office building trade has occurred in Back Bay. This sale falls outside of what we have seen in the recent past by investors, this in an owner occupant as well as an expanding college.

The Boston Business Journal reports that Fisher College has purchased 10-11 Arlington St. for $11.7 million. The article contends the building “will be able to provide offices for faculty and staff, as well as additional services and resources to its students.”

For more information on the specifics of the purchase of 10-11 Arlington Street, follow this link to the Boston Business Journal.

0 Is One Lincoln Street Stagnation a Sign of Larger Trend?

Posted on by
State Street Financial Center at 1 lincoln

Photo Credit: Boston Business Journal

The office market is in the midst of an upswing as it pertains to rents, but from the value side, buyers are cautious. Have we peaked or is there more to come?

The Boston Business Journal article reported on the relative stagnation, noting that “twenty months after One Lincoln Street ­— also known as the State Street Financial Center — was put up for sale, the skyscraper remains on the market for $1.15 billion.”

Follow the link to read more about One Lincoln Street.

0 Boston Innovation District Adds 200 Companies in Three Years

Posted on by
Map of Boston's innovation district

Photo Credit: innovationdistrict.org

Rents are above $40.00 PSF, vacancy is below 4 percent for Class B space, but the good news is the Innovation District is humming. Companies are willing to pay a premium to be located among their technology peers; as it pertains to recruiting, applicants would much prefer to be there than outside the city.

A Banker & Tradesman report, quoting the Boston Redevelopment Authority, states “in the past three years, more than 200 new companies and 4,000 new jobs have moved to Boston’s Innovation District.”

The article also notes that technology companies are leading the charge, accounting for 30 percent of the area’s new job growth.

For more insight, jump over to Banker & Tradesman’s coverage of the growth of Boston’s Innovation District.

0 Marine Industrial Park to House New Spec Building

Posted on by
6 Tide Street in Boston's Industrial Park

Photo Credit: Boston Business Journal

As rents have continued to rise and vacancy has dropped, landlords are becoming more bullish on the office market future.  Spec buildings, previously considered a thing of the past due to the high cost of construction (compared to the cost of renovating an existing structure) are reemerging in the Hub’s commercial landscape with a new addition to Boston’s marine industrial park.

The Boston Business Journal reported, “Danvers-based Kavanagh Advisory Group is expected to break ground by year’s end on the first new building in six years on the eastern edge of the Hub’s Innovation District.”

Details on the spec building are available on the BBJ’s coverage of the new development at Marine Industrial Park.

0 Jos. A. Bank Signs Lease in Boston Financial District

Posted on by
Office building at 70 Franklin Street in Boston

Photo Credit: Boston Business Journal

Men’s clothing retailer Jos. A. Bank has moved in the retail space on the corner of Franklin Street and Arch Street in Boston’s financial district.

According to an article on the Boston Business Journal, the fashion retailer “has signed a 10-year lease for nearly 5,000 square feet at 70 Franklin St. in Boston’s Financial District.” Additional details on the space and terms of the agreement are available on the BBJ.

To view available commercial real estate listings in Boston’s financial district, follow this link.

0 New Tower Considered in Back Bay

Posted on by
Back bay tower site

Photo Credit: Boston Business Journal

Will Back Bay be home to another Boston Properties skyscraper?  The location would be atop the John Hancock garage at Back Bay Station.

A report in the Boston Business Journal describes the proposal, “Boston Properties, owner of the John Hancock and Prudential towers, is floating a proposal for a skyscraper to be built on air rights atop its garage near Back Bay Station…a conceptual idea for a building could include office space and other mixed-uses above the parking garage at the corner of Stuart and Dartmouth streets.”

Related Commercial Real Estate
Back Bay Office Space for Rent

0 Boylston St. Company Constructs ‘Fun’ Work Environment

Posted on by

logo for zero turnaroundOffice and work space in Boston continues to evolve to meet the needs of contemporary companies, with additional consideration given to functional atmospheric elements to complement the core layout.

Located on Boylston Street, ZeroTurnaround — a Java productivity tools maker — is one of a number of companies in Boston to design its workspace to match its progressive attitude. In a Boston Herald article about the company’s “fun” work environment, author Ira Kantor describes the company’s Back Bay HQ, “as music fills the C-shaped, 5,500-square-foot space, employees feed off that energy as they start cranking out global phone calls.”

0 Former Jae’s Restaurant in Boston’s Theatre District Set for Demolition

Posted on by
Office_building_ 212_Stuart_Street

Photo Credit: Boston Business Journal

The street scape continues to change with the scheduled demolition of 212 Stuart Street. The Back Bay office vacancy rate is at a record low at just under 5 percent, will the ownership push for office or residential?

A Boston Business Journal article quotes the Bay Village Neighborhood Association, stating, “nearly four years after the Boston Redevelopment Authority approved conversion of the shuttered Jae’s restaurant into a 10-story office building in Boston’s Theater District, the property is on track to be demolished.”

Jump over to the BBJ online to read the full report.

0 Back Bay Restoration Hardware Seeks Beer/Wine License

Posted on by
234 Berkley Street location for Restoration Hardware

Photo Credit: Boston Business Journal

The scaffolding has been taken down and Restoration Hardware is scheduled to open its new Back Bay location next month at 234 Berkley Street.  Having vacated 711 Boylston Street a number of years ago, Restoration Hardware  is looking to not only sell sheets, towels and hardware, but the Back Bay location also hopes to offer beer and wine as part of their café.

The Boston Business Journal reports that “the California-based retailer will go before the Boston Licensing Board on Wednesday seeking a beer and wine license for a proposed 118-seat restaurant on three levels. Located in the 19th-century Boston building that once housed the New England Museum of Natural History and LouisBoston, the store is set to open next month.”

To read more about the Back Bay Restoration Hardware’s push for a beer and wine license, continue on to the Boston Business Journal. Alternatively, click through to view available property for lease in the Back Back.