Tag Archives: Historic office space in Boston

0 Older Office Buildings in Boston Yielding Higher Rent Prices

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office space at 10 Post office square in Boston

Credit: Boston Globe

It is true, Class B office rents are on par with the low rise space in class a towers.

From the Boston Globe:

What they lack in modern conveniences, the Class B buildings make up in character: Many have exposed bricks and beams or ornate stairways and other finishings that have caught the eye of young technology companies and other startups looking for more authentic digs.

Vacancy rates for those buildings have been consistently below those of the more modern, taller downtown towers, something unheard of in previous decades, according to JLL, a Chicago commercial real estate firm with offices in Boston.

Rents at Class B buildings in downtown Boston have increased about 32 percent over the past three years, compared with 18 percent for space in Class A towers, according to Cushman & Wakefield.

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Boston Commercial Real Estate

0 Downtown Crossing Office Building May Become Boston Landmark

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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.