0 Boston Commercial Real Estate: Rife with Office Space Renovations

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230 Congress Street office building

Office building at 230 Congress Street

Landlords in Boston continue to make considerable upgrades to their buildings as part of the ongoing courting process for new tenants.  Beacon Capital has continuously made improvements to its Boston assets such as 1 Financial Center, and the newly acquired 230 Congress Street.

Another recent renovation is 177 Huntington Ave., following the departure of Wayfair. A Banker and Tradesman article notes some of the buildings modifications:

“To reposition 177 Huntington for new tenants, Beacon installed new art and signs and LED news strips in the elevator bays. On Monday, Varano Group will open a Caffe Strega breakfast and lunch cafe in the lobby. The owners wanted a name-brand restaurant operator to set the lobby apart, Gratton said.”

0 Starbucks Opens Waterfront Retail Location at Boston’s Fan Pier

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Starbucks has crossed the Fort Point Channel into the Seaport with its new location at Fan Pier.

Office Buildings at Boston's fan pier

Credit: fanpierboston.com

From the WSJ’s Market Watch:

“Lease agreements have been reached with each of the new tenants to occupy more than 21,450 square feet of existing space on the lobby level of Fifty Northern Avenue, one of two build-to-suit towers – along with Eleven Fan Pier Boulevard – housing Vertex Pharmaceutical’s global headquarters…Starbucks Coffee Company’s Fan Pier location will occupy 2,100 square feet of street floor space, which is expected to open in the summer of 2014.”

 

0 Two Summer Street Office Buildings Sold

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321 Summer St. Boston

321 Summer St. in Boston (click  to view additional property details)

More trades in the Seaport’s red hot office Market.  The Seaport Class B office lease rates are hovering just around $40 PSF in the first year.

Drawing national coverage, the Wall Street Journal reported on the recent Seaport transactions of 281 Summer Street and 321 Summer Street in Boston, MA. The Journal notes, “the two building portfolio is in Boston’s Seaport District and totals 243,000 square feet of office and retail space. Newly renovated, the properties are well-located in the heart of Boston’s Fort Port Channel neighborhood.”

The WSJ article on the Boston Seaport is available, here.

You can view additional details on both of the Summer Street buildings on our property listing pages:

321 Summer Street, Boston Seaport

281 Summer Street, Boston Seaport

0 Etymology of MA Company Names

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BRA logoWhat’s in a name?  My firms name came from the idea to say what we do in our name, we act as real estate advisors to our clients and are headquartered in Boston.

What’s your company’s story?

The Boston Business Journal put together an article indicating how nine Mass. tech companies got their names. Included in the list are Akamai Technologies, Aereo, Brightcove, Content Raven, FeedHenry, Jess, Meet Ken, Rapid7, Verivo Software , and Wayfair.

You can read the MA branding stories on the BBJ.

0 171 Newbury St. Sold for $13.2M

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gallery space at 171 Newbury St. in Boston

Credit: The Real Reporter

Mike d’Hemecourt of our Retail Capital Markets Team produces a great outcome for 171 Newbury Street.

Details, posted by The Real Reporter, indicate that “the landmark Pucker Gallery is relocating within the Back Bay following a sale of its longtime home at 171 Newbury St. to Dutch capital at an eye-popping $1,553 per sf, an all-cash $13.2 million transaction negotiated by Boston Realty Advisors. The five-story, 8,525-sf building that has housed the multi-level gallery since 1967 and is now home to international retailer Clarks Shoes on the ground floor attracted a range of investors from around the corner and around the globe, relays BRA principal Michael d’Hemecourt in acknowledging the agreement that closed on Friday.”

Further information on the gallery and its sale, are available on The Real Reporter website.

0 Back Bay-to-Logan Shuttle Launched for Boston Commuters

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Logan to Back Bay Shuttle launched to ease traffic at airport

Credit: Boston.com

Looking for new ways to get to Back Bay?  Massport believes that their new shuttle from Logan to Back Bay will provide an alternative to the T or Taxi service.

Details  on the shuttle from Baker & Tradesman:

“The Back Bay Logan Express service started Monday and will run every 20 minutes from the airport to Hynes Convention Center and Copley station on the MBTA’s Green Line, Massport announced today. The 42-foot bus will stop at all Logan terminals on the departure level and pick up passengers on the arrival levels…The service will run from 5 a.m. to 9 p.m. from Back Bay and 6 a.m. to 10 p.m. from Logan, and cost $5, payable with a debit or credit card, or free for riders with an MBTA pass. Massport estimates ridership at 1,400 passengers a day.”

The full article is available on the B&T website.

0 Mobile App Brings Real-Time Ride Options to Boston

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Mobile transportation app

Credit: Boston Business Journal

What’s the fastest way to get there?  I  was leaving my office on Boylston Street Last week headed to the corner of High and Federal.  My route was my standard one: hop on the T at Back Bay and head to Park Street then walk through Downtown Crossing down Summer to High.

As I walked across Exeter Street at Boylston Street, I noticed a motorcycle rider on a Ducati, felt the warm day air, and thought, Spring is burgeoning.  As my trip progressed, I walked in front of 100 Summer Street and noticed the same rider on the same bike.  Was my way quicker or did the rider stop for a coffee at Flat Black?  Not sure, but I was rather impressed that the T scored the same speed as a motorcycle.

If you’re unsure of the best route or means for a particular trip, check out RideScout, and see what’s your quickest path to your Boston destination.

The BBJ describes RideScout’s functionality, which is now available in Boston and Cambridge:

“The app aggregates ground transportation services including public transit, private options and social ride-share that allows users to search and compare options in real-time..,Users of the app can find and connect with Zipcars, Hailo taxis, Hubway bike share, MBTA bus and rail services.”

Additional details are available on the Boson Business Journal.

0 Burnham Building in Millennium Tower Lands Fashion Retailer

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Burnham office Building at the Millennium Towers Complex

Credit: Banker & Tradesman

Another new lease for the Downtown Crossing, this time its retail.  Headquartered in Dublin Ireland, www.primark.com was founded in 1969 and today operates 250 store in eight countries.

From Banker & Tradesman: “Fashion retailer Primark has signed a long-term lease for 112,000 square feet at the Burnham Building in the Millennium Tower complex at Boston’s Downtown Crossing…Dublin-based Primark’s first U.S. store will occupy four floors in the eight-story Burnham Building, including 70,000 square feet of retail floor space.

View Listings: Downtown Crossing Office Space

0 Boston Harbor: today, as it was meant to be

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office space reflected in the Boston

Credit: Bisnow.com

One of our city’s most valued resources wasn’t always treated as such.  Yes, our waterfront.  Not only has this become a destination location for visitors, but now we have new residential communities and office buildings that are the new gateway to the water.

Bisnow offers a perspective on how the harbor used to be, and what it’s evolved into.

“[today], many of the region’s major developers and corporations…now see how valuable a beautiful waterfront can be. Rents are rising for offices and multifamily residences and commercial property sale values are hitting all-time highs.”

The full article, including a comparison of ‘old’ Boston Harbor to a “men’s locker room”, is available here.

0 What Does Cool, Funky Office Space in Back Bay Look Like?

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Workbar offices in cambridge

Credit: Workbar

What does cool funky space look like, or better yet how does it feel?  The virtue of my business is to walk in and out of company offices daily and I must say that this one grabbed my attention as cool and funky.  It isn’t so much as to the building or layout, but the culture that the company extends to its employees and customers.

Bostinno.streetwise.co articulates this quality in its assessment of Karmaloop’s ‘swagged out’ Back Bay office space:

“Karmaloop stickers bearing the company’s classic chunky logo in all prints and colors sit in neat piles atop a coffee table. A giant-sized, glittering mannequin sits with plastic legs crossed coquettishly on one of the entryway’s couches, while another figure, a frightening yet sort of high fashion clown marionette, looms over the space. Both were crafted by ecommerce company’s outspoken founder and CEO, and proud Bostonian Greg Selkoe.”

Let us know your definition of cool, funky office space in the comments below, or on twitter @bradviors

To read the full bostinno article, follow this link.