0 November 9th: 142nd Anniversary of the Great Boston Fire

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archive image of the great Boston fire in 1872

Credit: Wikipedia

The great Boston Fire started on November 9th in 1872 that started on the corner of Kingston and Summer Streets which is now the heart of Downtown Crossing (DTX).

The historic significance of the fire’s aftermath of the city’s commercial development is noted in The Daily Times:

On this day in 1872, a fire in Boston destroyed hundreds of buildings and kills 14 people. In the aftermath, the city established an entirely new system of firefighting and prevention. The fire also led to the creation of Boston’s financial district…The business community saw the burned area as an opportunity to expand its presence downtown. The city’s financial district was established where the fire had hit hardest and Boston soon became a key business center of the late 19th-century United States.

0 Sales of New Boston Office Towers to Boost Rent Prices

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Office space for rent in Boston

Credit: Banker&Tradesman

Office rents will continue to rise and I expect this to continue through 2015 and into 2016.  The buyers of the recent office buildings will be looking for their return on investment and that will come from increasing the price per foot they charge tenants.

Banker & Tradesman reports the stage was set “for the big rent hikes to come has been a frenzy of office tower sales in the Financial District, Back Bay and Seaport over the last six months…More than 5.5 million square feet of office tower space changed hands or has been placed under contract between July and September, Collins and Regensburg note in a piece for the New England Real Estate Journal. Another 4 million square feet has hit the market or is about to.”

Additional details on the new office towers and projected office rent rates is available on Banker&Tradesman’s website, here.

0 Proposals Submitted for Parcel 13 Over Mass Pike in Back Bay

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Credit: The Boston Globe

One thing that we truly aren’t making more of is real estate.  The recent focus is Back Bay at the intersection of Mass Ave and Boylston Street above the Pike; will this become the next hot development site?  Parcel 13 is getting a lot of attention and the stars might be aligning for building above the Pike.

The Boston Globe reports, “three companies on Friday submitted proposals to build large complexes on the 50,000-square-foot lot, across from the Hynes Convention Center. The pitches include a curvy, 11-story building with residences, a hotel, and stores, as well as a 21-story complex with shops and 350 apartments…The Massachusetts Department of Transportation will select a winner in the coming months. The redevelopment would create a new entrance to the Back Bay and help enliven a disjointed section of the otherwise bustling neighborhood.”

You can read more on the contest and proposals for Parcel 13 on The Boston Globe.

0 Cambridge Startup Launches new IM for Workplace Collaboration

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Collaboration seems to be a key driver for employers both large and small.  Some companies are trying to figure out the best way/product that could be the key for maximizes efficiencies in the workplace.

New messenger and professional network for worker collaboration

Credit: BBJ

The Boston Business Journal notes that Chookka, “a Cambridge company that allows people to chat with each other and send files…officially launched in September. The service is currently in beta mode and hopes to get to 10,000 users “fairly quickly,” said Chookka co-founder Yves Schabes…The goal, Schabes said, is not to replace email, but complement it — especially when groups of people are trying to communicate.”

Additional information on Chookka’s collaborative product is available on the BBJ’s website.

0 Downtown Crossing Building on Summer Street Bought by Synergy

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Summer Street office building in downtown crossing

Credit: Boston Business Journal

As landlords assemble abutting parcels is there a master development plan or is it simply better economies of scale?  Downtown Crossing (DTX) is clearly getting a lot of attention from tenants and landlords.

A recent purchase in Downtown Crossing by Synergy is described by the BBJ:

“Synergy Investments and DivcoWest spent $48 million Friday on a building that gives Synergy control of a full block in a rapidly improving part of Downtown Crossing. DWF IV LLC bought 55-63 Summer St. and 65-69 Summer St. from Brickman 55 Summer LLC of New York City.”

0 Is co-working Office Space in Boston for You?

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Shared office space in Boston

Credit: Bisnow

What is co-working space and is it the correct fit for you and your team?  Well, if you can play nice in the sandbox and share, it is a great tool as your company grows.  Planning is key, meaning, if you require private conference rooms, you will need to plan and reserve them.  Don’t expect that they will be waiting for you.

Weigh out the pro’s and con’s and then make your decision.

If you still need some help deciding, Bisnow.com notes its bottom line, “coworking providers have democratized space and turned it into a liquid asset as technology and tech entrepreneurism explode and startups seek collaborative offices with flexible lease terms instead of the growth-hindering “corner office” route.”

0 Facebook’s Cambridge Office Space Hits One-Year Mark

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Facebook office space in Kendall Square

Credit: Facebook

So you have just been funded and you are in the hunt for the perfect office to grow the team.  Have a look at the new digs for Facebook in Cambridge for some ideas.

Ryan Mack, the site lead for Facebook Boston notes in a blog post, “we look forward to hosting some of these events at the Facebook office, where we have a newly expanded space to support our growing engineering team. In the coming year we’ll continue hiring experienced engineers for our Boston team to work on data infrastructure, core systems services, location, and language runtimes, as well as new grads.”

You can also check out photos of Facebook’s office space in Cambridge on its site.

0 Boston Harbor Garage Towers Discussion Continues

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Rendering of the proposed towers at Boston Harbor Garage

Credit: Bostinno/Streetwise

How many towers can the 1.3 acre site on the waterfront support?

Graphic renderings of the proposed Boston Harbor Garage towers were recently unveiled; the towers would replace the Harbor Garage on India Street.

From Banker & Tradesman:

“‘They told us that being allowed to build that much would be considered a valuable business opportunity by any experienced developer,’ Lee Kozol, chair of the Harbor Towers Garage committee, said in a statement. The economic analysis has been submitted to the Boston Redevelopment Authority, which is reviewing conceptual plans for the project…for the project to go forward in its current form, the BRA would have to waive maximum height and minimum open space limits for waterfront developments.”

0 How Do You Feel about Office Beacons?

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Office beacons in Boston real estate

Credit: OfficeBeacon.com

Does your office use beacons like Digitas to figure out your movement with the office?

From Digiday:

“DigitasLBi…has installed 120 beacons — devices that communicate with nearby smartphones via Bluetooth technology — in its Boston office in order to identify how and where its employees congregate. The goal is to learn how to improve office design and meeting scheduling.

‘the most immediate goal…was to use data collected from the beacons to establish a baseline for how the office’s 700 employees currently meet with one another.'”

Does this sound like a model for efficiency or will it yield a new mode of employee resentment?