Tag Archives: 745 Atlantic Ave.

0 745 Atlantic Ave. Purchased by Oxford Properties for $114.5M

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Office building at 745 Atlantic avenue in downtown Boston

Credit: BBJ

Oxford Properties continues its buying spree by plunking down $114.5 million for 745 Atlantic Avenue or $657 per square foot. 745 Atlantic Avenue is home to WeWork and Dain Torphy as well as a number of companies.  WeWork will be building out a Café on the 1st floor as part of their future expansion.

From the BBJ:

“It really fits our profile of what we like to buy for the long-term: Class A assets in downtown cores near transit-oriented locations,” said Chad Remis, the head of Oxford Properties’ Boston office.

Its $114.5 million acquisition of 745 Atlantic, which closed May 29, is more than double the $54.65 million sale price 745 Atlantic fetched in 2003. The property sold again in 2008 as part of a $1.7 billion office property acquisition invovlingBeacon Capital Partners and Charter Hall Office REIT of Sydney, Australia.

You can read the full article on the Boston Business Journal website.

0 WeWork Plans Café Across from South Station in Boston

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shared office space in cambridge

Credit: Bostinno.Streetwise.co

Café owners lookout; a new provider is opening up with its own customer base.  WeWork continues to forge ahead and cater to the customer by offering additional services at street level  The latest venue is a Café’, by no sense is this a new concept, but it is if you are in the temporary office space business.  This fulfills two goals; first more services to its existing customer base.  Second; a street level presence to attract new customers.  Banking has also seen this in Café 360 by Capital One.

Bostinno.StreetWise.co is reporting a “Small scoop here: In the midst of a Boston expansion, WeWork has also taken street-level retail space in the Hub. The company plans to open a coffee shop at 745 Atlantic Ave., a few floors below its shared workspace in the same building…This sets up a potential barista duel for the hearts and minds of downtown Boston’s startup set. Cambridge Innovation Center, another shared workspace, is also developing a café project on the ground floor of its 60,000-square-foot Boston facility at 50 Milk Street. CIC’s founder and chief executive, Tim Rowe, demurred about a date for its opening.”

The full article details WeWork’s cafe project as well as how it fits in with its larger corporate strategy. You can read it on Bostinno.Streetwise.