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0 FinTech Program for Burgeoning Boston Financial Services Startups

Posted on June 6, 2014 by Wil Catlin

Entrepreneurs: do you have an idea focused on the Financial Services sector? Look no further, Fidelity and Amazon would like to help back fledgling Boston startups through a new program, tagged the Fintech Sandbox.

A Boston Globe editorial highlights the target:

“Fintech entrepreneurs have a unique problem, which is the high cost of data to help them build applications,” said David Jegen, managing director of Devonshire Investors, the private investment arm of the Johnson family, which controls Fidelity. “They raise $2 million of venture capital funding, and then spend $500,000 of it buying market data from Bloomberg or Thomson Reuters. Or they show up to customers, who say, ‘Nice app, but it hasn’t been tested on robust data sets.’ We think that is a problem we can help solve.”

0 Downtown Crossing Office Building May Become Boston Landmark

Posted on June 5, 2014 by Wil Catlin

Downtown Crossing office space on Washington Street in Boston

Credit: Boston Business Journal

As I tour the Financial District with clients many ask about this building located and 276-278 Washington Street or 7 Water Street which is bordered by Washington, Water and Devonshire Street. According to public record, the ownership is a Fidelity Company.

The Boston Business Journal reports that in order for the 9-story building at 276-278 Washington St. to become a historic landmark, “the process in Boston can take up to a year. The designation procedure is initiated by the submission of a petition, which is followed by a preliminary hearing before the commission, the preparation of a study report on the proposed landmark, and another public hearing. To be designated, a property must receive a two-thirds majority vote from the commission and be confirmed by the mayor and City Council. When a property is designated a landmark, any physical changes must be approved before they are undertaken.”

Additional details on the building are available in the full BBJ article, here.

0 UberBoat to Provide Limited Water Service in Boston

Posted on June 5, 2014 by Wil Catlin

Credit: Uber

Need a ride to the airport or a harbor island from the Financial District? Walk toward the waterfront at get within .25 mile of the water and open Uber. This is pilot program only from June 4th to June 15th.

Boston Magazine notes that “in order to access the UberBOAT option, users have to be within a quarter-mile of the harbor. When they are close enough, the app will then display an UberBOAT icon on the screen. From there, people can simply “place a pin” on a map , indicating where they want to be picked up near the docks, and hit the “Request” button. Soon after, a boat will appear. “Once your request has been accepted, the captain will give you a call to confirm your location and provide additional details on reaching the dock,” the company said.”

Jump over to Boston Magazine to read the complete article and to view an interactive map of the water taxi operation area.

0 Boston Micro Hotel Made to Fit Along Seaport Boulevard

Posted on June 5, 2014 by Wil Catlin

Credit: The Boston Globe

What’s new coming to the Seaport? Micro rooms. Yes, soon you will be able to get a hotel room that is about half the standard size. The location is will be along Seaport Boulevard near the Barking Crab.

From The Boston Globe:

“John B. Hynes III is proposing to develop a Yotel, whose rooms — Yotel calls them “cabins” — have set a new benchmark for efficiency from London to New York to Amsterdam…The rooms in Boston would range between 160 and 200 square feet, Hynes said, or roughly half the sizeof traditional rooms at the nearby Westin Waterfront. The 307-room Yotel is to be built along Seaport Boulevard, across from the John Joseph Moakley US Courthouse.”

0 App for On-street Parking in Boston

Posted on May 28, 2014 by Wil Catlin

Credit: Boston Business Journal

How would you like to Uber a parking space? App is trying to make it happen. Not too sure the Massachusetts driver would be willing to wait for the next owner of the space to show up and claim it. If I don’t have the App and see the person getting into their car and pull up behind them the old fashioned way can I claim it?

The BBJ described the app as follows:

“Developed by former Harvard Graduate School of Design professor Kostas Terzidis, the app lets drivers with a coveted space name their own price for a space. Then a driver, using the app, can claim the space by clicking it on a map and paying for it within the app using a credit card or bitcoin. The driver seeking the space can anonymously message or call the driver who has the space and let them know they’d like it. They can also watch the driver approach the space on a map within the app, much like users of Uber can watch their ride arrive. The person who has the space would wait until the other driver arrives and then the space swap would take place.”

0 Suburban Offices Fight the Trend Downtown

Posted on May 28, 2014 by Wil Catlin

Credit: Boston Business Journal

Where should you locate your company office? Most groups I speak with are trying to provide an option that accommodates multiple solutions; easy access from public transportation, amenity rich environment, vibrant workforce and economically feasible.

This doesn’t mean that groups are flocking to the vacant office buildings on 495, but rather looking inside of 128 and more specifically within areas serviced by the Red Line. New hotspots for the emerging tech firms are surrounding the Broadway T stop. This caters to the young workforce residing in South Boston, the commuter coming in from Metro West combined with those either driving or relying on public transit from the South Shore. This area is generally priced in the mid $20’s PSF unlike the Seaport which would price in the upper $30’s to low $40’s for a comparable Class B building.

From the BBJ:

“Some suburban companies are moving to Cambridge and there’s all the buzz about the Seaport District,” said Garry Holmes, president of R.W. Holmes Realty Co. in Wayland. “We’re also seeing the same people who worked at EMC and live in the suburbs launching startups. And they’re convinced the in-vogue thing to do for hiring is to have an office in Seaport. As a result, lots of those startups are bypassing the suburbs and it’s having an impact out here.”

The full article is available on the Boston Business Journal.

0 Cambridge Office Building at 90 Hamilton St. Sells for $2.6M

Posted on May 28, 2014 by Wil Catlin

office space at 90 Hamilton Street in Cambridge MA

Credit: Banker & Tradesman

Boston Realty Advisors capital markets team completes another sale transaction. 90 Hamilton Street is located in Cambridge, MA.

From Banker & Tradesman:

“MRH Hamilton LLC of Brookline bought a 7,800-square-foot office building 90 Hamilton St. in Cambridge for $2.6 million…The parcel is suitable for use as an investment property or redevelopment for a variety of commercial or residential uses, according to Boston Realty Advisors.”

You can read the complete B&T article, here

0 Cool Office Space in the Seaport?

Posted on May 28, 2014 by Wil Catlin

Credit: Bostinno.streetwise.co

Yes, cool space can still be found in the Seaport. Lose It is on the lucky side with a great view Boston’s waterfront at 250 Northern Avenue.

From Bostinno.streetwise.co:

“Snuggled up in the Seaport, the startup has miraculously secured one of the best views of the harbor in the city. Seriously…Lose It!’s handful of employees are living large. An entire side of the company’s perfect, petite office is glass, overlooking the water. On nice days, people can venture outside onto the balcony and scoop up a spot on a bench to take their phone calls and lunches in the open air.”

0 Boston Cab Union Protests Uber

Posted on May 28, 2014 by Wil Catlin

Credit: Boston Business Journal

Do you Uber when you are touring office space for lease in Boston? Well, yes. Will Uber be here tomorrow or with the Cab Union prevail?

The Boston Business Journal reported that “the union, representing 1,400 cab drivers, is calling on Boston Mayor Marty Walshand Police Commissioner William Evans to order all UberX and UberXL for-hire vehicles off the streets of Boston until the city can regulate and license all Uberdrivers and cars.”

Follow the link to view the full BBJ article for details on the Cab Union Uber protests.

0 Blackstone’s Boston Commercial Real Estate Portfolio Sells for $2.1B

Posted on May 28, 2014 by Wil Catlin

125 summer street in Boston

Who is your new landlord and should you care? Equity Office, Blackstone, is in the process of selling off assets. The newest to be announced are 100 High Street and 125 Summer Street.

From Banker & Tradesman:

“Private equity giant Blackstone Group will sell five Boston properties to Oxford Properties Group of Toronto for $2.1 billion, the Wall Street Journal reported.
The deal comprises 3.2 million square feet of office space, including 100 High St. and 125 Summer St. in Boston…Oxford will jointly purchase three other properties with J.P. Morgan Chase: 60 State St. and 225 Franklin St. in Boston and One Memorial Drive in Cambridge, the Journal reported.”

Additional details on the sale are available on the B&T website.