Once a seller and now a buyer, the Davis Company is buying 88 Black Falcon Ave. for $60 million. The borders of the Seaport District submarket haven’t changed physically since Davis sold Back Falcon in 2006, but tenants desire to be there has changed. The Seaport office market has blossomed and is now one of the hottest markets in the country with a diverse tenant mix of TAMI, law, and life sciences.
According to a recent article from the Boston Business Journal, “the low-rise complex spans a combined 376,000 square feet, about evenly split between office and warehouse/R&D space, at the far edge of the Raymond L. Flynn Marine Park…Davis Cos. plans to put “tens of millions of dollars into the property,” said CEO Jon Davis, and has tasked architecture firm Dyer Brown with creating a warm industrial aesthetic. Planned improvements include bolstering 88 Black Falcon’s structural underpinnings, adding WiFi throughout the property, and creating a bike storage area and fitness facility. Davis aims to complete work by the second quarter of 2018.”
You can read more on the BBJ, here.
Credit: Boston Herald
How far is far enough to “get away?” Well, according to Moira McCarthy the Seaport Envoy Hotel fits the bill. Check it out next time you are considering a Boston destination.
From the Boston Herald:
Tucked into the edge of Boston Harbor (it gazes down upon the iconic Barking Crab restaurant), the hotel offers a new and distinctive feel for a Boston stay, but with enough classic Boston and seaside to remind us what an amazing city we live in. There’s even a rooftop bar…Warm and almost beachy, and touched with the hotel’s signature yellow and lots of reclaimed wood, the lobby featured classic games such as Connect Four, deep and comfortable conversation-pit-style couches, artistic touches like a chandelier made from reclaimed materials, and an open feel.
You can read a first-person account’s of their stay in the Boston Herald.
Image Credit: Banker & Tradesman
If you come we will build it for you! That is what Skanska USA Commercial Development agreed to do for PwC. This is usually how new projects get in the ground, most developers and landlords would prefer not to build on spec, but that model has shifted in the very recent past due to the lack of inventory and increased rents most notably in the Seaport District.
According to Banker & Tradesman, “PricewaterhouseCoopers has signed a 15-year lease to occupy the majority of a planned office tower in Boston’s Seaport District. Inking a deal with the accounting firm gave Skanska USA Commercial Development the anchor tenant it needed to begin construction on the 440,000-square-foot tower at the southeast corner of Seaport Boulevard and Boston Wharf Road.”
The complete article is available on Banker & Trademan’s website.