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0 New Location for Charles River Center

Posted on July 18, 2014 by Wil Catlin

Credit: HometownWeekly

The Charles River Center has opened a new facility within Needham becoming the 10th home that the organization has opened to support local adults with intellectual and physical disabilities throughout the community. This serves as additional expansion taking place throughout the area, as residents and business owners are experiencing a boom in development occurring throughout the Town with the addition of new retail and office buildings along the Highland Avenue/Needham Street corridor.

From HomeTownWeekly.com:

“In a press release, John Grugan, President of The Charles River Center, credited a number of town officials for working with the organization to help continue its growth. Among those mentioned in the release, were the Planning Board, the Board of Selectmen, the Finance Committee, and the Conservation Committee.”

0 Innovation and Design Building in Boston Marine Industrial Park Adds Commercial and Restaurant Space

Posted on July 18, 2014 by Wil Catlin

Credit: Boston.Citybizlist

The design center will be changing what it offers after receiving BRA approval. The change will be the conversion of industrial to commercial combined with dedicated retail and amenities such as vending trucks and Hubway bikes stations.

According to Banker & Tradesman, “the $15.5 million project will convert the space from industrial to commercial space, including 50,000 square feet that will be set aside for retail and restaurants.”

The full article is available on B&T’s website

0 Blade Unveils $20M Seed Fund for Boston Tech Start-ups

Posted on July 17, 2014 by Wil Catlin

Consumer Tech is a hot spot and Blade has launched a $20M seed fund to assist which is headed up by Kayak co-founder Paul English.

The new fund is led by Paul English, co-founder of Kayak Software Corp.

According to pymnts.com, “english plans to invest $250,000 to $1 million per startup. The fund works, each selected startup will be able to use the office space at Blade’s offices in Boston for a few months, or a full year, depending on their needs, and what they are building.”

Details on the fund and its initial start-up selections, are available, here.

0 The Boston Globe is on the Move, Literally

Posted on July 11, 2014 by Wil Catlin

Credit: The Boston Herald

The new ownership is in the midst of some significant changes on the look and feel along with the location. It will be interesting to see what becomes of the 16.5 acre complex in Dorchester that has housed The Globe since the ’50. Additionally, a 150K tenant in the market with garnish many developers and may be the catalyst to get another project out of the ground.

From the BBJ:

“Boston Globe owner John Henry has hiredColliers International to search for the space that would house the Globe’s editorial, advertising and administrative offices. Commercial real estate sources familiar with the search say Colliers has looked in the Seaport area, among other locations in Boston.”

0 Newton Among Top 10 MA Cities in Growth

Posted on July 11, 2014 by Wil Catlin

Despite being one of the oldest states in the country, Massachusetts is always inventing itself and continues to draw new residents and new businesses each year. According to a study done by NerdWallet to determine the top 10 cities on the rise throughout Massachusetts, Newton ranks in third with a 66.2% overall growth score from 2009-2012. With the indication that these numbers will steadily increase, it is believed that Newton will continue to grow and add new residents and businesses throughout the coming years. Commercial real estate agents will continue to stay active as an increase in businesses throughout the area will begin looking for Newton and Needham Office space.

Credit: NerdWallet

0 Downtown Crossing Poised for Another Triumph

Posted on July 9, 2014 by Wil Catlin

Credit: Bisnow

This is not the first period of growth or transformation for DTX, also known as Downtown Crossing. In 1979, Washington Street was made into a pedestrian-only roadway following the success of Faneuil Hall Marketplace. This resulted in a modest decline following the popularity of the vending cart program.

The fate of the neighborhood, now, seems set for a steep incline:

Bisnow states, “$210M Millennium Place mixed-use residential project that opened Q2 last year tested how housing would fare in the heart of this commercial neighborhood. All of its 256 condos sold by year-end priced from $550k to $3.5M. As one of the first Boston condo developments to be completed since the recession, it showed that buyers would put down stakes in the CBD, permanently changing the character of the historic neighborhood.”

A more detailed history on Downtown Crossing is available in the Bisnow article.

0 Needham’s Real Estate Market Slowing

Posted on July 9, 2014 by Wil Catlin

Credit: Pinterest

There is a growing concern amongst residential realtors that the real estate market in Needham is slowing down. Will this have a direct impact on office space throughout Needham and slow the growth for commercial real estate development in the area?

Wicked Local pointed to three key indicators of this trend:

The first clue is that days on market fell from an average of 59 days in February to a mere 24 days in April. But so far in May that number has crept up to 39. Houses appear to be sitting a bit longer.

The second clue is that the number of houses that have gone under agreement fell from 38 in March to 32 in April. So far this month the number is 13. Though we are only halfway through the month, even if you double that figure to 26, it still shows a downward trend.
(more…)

0 Newton Office Vacancies Continue to Decline

Posted on July 9, 2014 by Wil Catlin

Credit: ilovenewton.com

More vacancy is being absorbed in the Newton Office market as a growing pharmaceutical company is preparing to move into the area from its current location on Mercer Road in Natick.

According to Wicked Local, “the company currently has about 8,000 square feet of space while the Newton location, on Wells Avenue near the Needham line, has about 30,000 square feet of space…Its new landlord is willing to help with improvements to the building and the rent, at $30 per year per square foot, is cheaper than properties in Cambridge which could cost more than twice as much.”

Additional details on the company’s move to Newton, jump over to the complete article on Newton.Wickedlocal.com.

0 Wells Avenue Development Debated

Posted on July 3, 2014 by Wil Catlin

Talks of a development taking place in Wells Avenue are underway, as city officials and zoning board of appeal members begin to dissect the development and its impact on the surrounding the area. The development is said to fit nicely into the proposed Needham Street redevelopment plan. As jobs follow younger, educated workers these days, the hope for the project is to give these millennial’s quick and easy access to work, shopping, and restaurants. The Needham and Newton office markets will see a direct impact upon the completion of this development. It does, however, seem like there will be significant time required before either side of the table will move towards a decision.

The Newton, MA vertical of WickedLocal offered commentary on the proposed mixed-use development on Wells Avenue from architect Doug Carr of Cube 3 Studio, who “described the development as “pedestrian-focused.” Carr said it would be six stories high and built around three exterior courtyards, contain 334 pet-friendly residential units, have a café and restaurant, “work bar,” convenience store, swimming pool, bike storage, and even a bike repair shop.”

0 State Street Opens Facility at Channel Center in the Seaport

Posted on June 28, 2014 by Wil Catlin

State Street at Channel Center in the Seaport

Credit: Bisnow

State Street has opened is new facility in the Seaport at Channel Center. For some this marks a trend towards more collaborative downtown workspaces.

From Bisnow:

“Mayor Walsh and State Street CEO Jay Hooley were among those celebrating the 222-year-old financial services giant’s jump from the Financial District to the emerging Seaport. Kristin says State Street’s presence validates the Seaport as a desirable corporate address. And the building’s open layout—which emphasizes collaborative space over individual cubicles—is a “game changer.” (It’s also easier to see who’s gossiping about you.) The company expects that at least 3,500 employees will move in by fall; it started moving in February. The build-to-suit was developed by Commonwealth Ventures and AREA Property Partners.”