Credit: Banker and Tradesman
Office tenants are using their space far different than years past. In some, but not all, cases employees no longer have an assigned desk. They simply check in and grab space that is conducive to the task they need to perform that day. This would include a phone room for a call with a client or a table for an internal team meeting.
Speaking to this trend, a recent Banker and Tradesman article aims to identify “what the [Boston office] market wants most”:
Efficiency, convenience, a great neighborhood and something “cool” that goes above and beyond for our tenants…[many contemporary office developments]…have flexible conference and events facilities with outdoor access to accommodate corporate gatherings. This maximizes the amount of productive square feet within a tenant space and minimizes the need for a large conference room, ultimately increasing the number of employees that a space can accommodate.
On-site amenities provide a company’s employees with options for a balanced and productive day within their office building. Gyms, dry cleaning and terraces are now standard in many buildings.
Will the Boston skyline elect to push heights in the upcoming years?
“Going higher is a fix to a lot of different things, from the housing shortage to taking the heavy load off the freeways into our city,” Perry Brokerage Director of Intelligence Brendan Carroll said.
Despite claims it has reached peak prices, Boston is still the third-most expensive city in the U.S. to rent. It has a cost of living nearly 40% higher than the national average, and low supply is keeping prices high. Cities around the world are in similar situations and have taken to building up as a way out of housing crunches.
Security is changing in our office and retail centers with the introduction of Robots. Boston Properties is a leader with the introduction of their robot at the Prudential Center in May.
Credit: Boston Globe
From the Boston Globe:
Dennis Crowley, senior vice president with Allied’s integrated technology group, said a similar robot in California recently used its thermal imaging technology to identify a hair curler someone had left on at a boutique kiosk after closing for the night.
The robot alerted security guards at the nearby command center.
“So they were able to prevent a fire,” Crowley said.
Your phone provider could be your new office landlord. Verizon is dipping into the market by converting former telecommunication space to office space and partnering with Alley to run it.
“Alley, powered by Verizon,” the new membership-only, 10,000-square-foot space in Cambridge is scheduled to open at the end of June at 10 Ware St. The facility served as a central office for Verizon (NYSE: VZ) that previously housed network and telecommunications equipment.
Any move is stressful be it for you home or office. The office can’t work without computers connected to the web and phones. Make sure to plan so your team reduces down time and plans for alternative solutions.
Here are some standard office timeframe considerations to keep in mind, courtesy of the Boston Business Journal:
- Most Internet Service Providers take 60 to 120 days to have their service installed and ready in your new space
- Most phone vendors take 30 to 90 days for their part, especially if they need to install their own circuit
- Ideally, furniture should be delivered and set up in your space a week prior to move-in to allow ample time for workstation setup
- In other words, if you’re less than four months away from your move date and you haven’t taken a look at internet providers, it’s time to pick up the phone and pick up the pace.
Photo Credit: Boston Globe
Office landlords are constantly vying for office tenants to occupy their buildings. This is achieved through competitive rent, leasing incentives, common area upgrades and the addition of amenities. Now some landlords are looking beyond the traditional channels by helping their customers get their employees to the office without worrying about parking. Uber and Lyft could be the next line item on a landlords expense budget.
Bisnow notes, “Several New Jersey landlords are using the perk to overcome a lack of office parking, connect offices with downtowns and attract employees who do not own cars, the Wall Street Journal reports. Hugo Neu Corp. launched a program in March that offers $50 monthly credits for tenants’ employees without cars to commute to its Kearny Point office.”
You can read the full article on Bisnow.
Credit: Boston Globe
At the intersection of Huntington and Mass. Ave stands Horticultural Hall which will have a new owner, Marcus Partners. The building is 45,000-square feet and is scheduled for upgrades to the lobby and entrances.
According to the Boston Globe, “Horticultural Hall’s tenants include the Museum of Fine Arts’s William Morris Hunt Memorial Library, the New England Conservatory of Music, and the offices of Boston magazine.”
You can read more about the prospective updates to Horticultural Hall on the Boston Globe.
Credit: Wicked Local
The City of Cambridge has plans for the Foundry Building at 101 Rogers Street.
According to an article on Wickedlocal, “the redevelopment plans call for five high-traffic “destination spaces,” including a redesigned lobby, a black box theater/assembly hall, a community room, a kitchen and a workshop and five flexible “interstitial spaces” with classrooms, multi-purpose rooms, studios, a gallery and a mix of nonprofit and for profit office space.”
You can read the full article on Cambridge.Wickedlocal.com
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