Boston is rising! We are witnessing one of the city’s largest building booms and the attached map, courtesy of the Boston Business Journal, lays out all of the active sites.
Credit: BBJ
Credit: Inc.com
Our firm just moved, Monday June 15th was our first day in our new office. We chose to stay in the same building after touring the market and evaluating the options and listening to the feedback from our internal teams.
The location was great, but how we used the space needed to change. My simple suggestion: understand what you need.
Inc.com recently posted a list ‘Reasons to Move–and Reasons to Stay’ to help companies understand when it’s time to move to new office space:
RETENTION
Pro: Don’t underestimate how happy a tricked-out new space can make employees.
Con: Sometimes retention requires staying put.
RECRUITMENT
Pro: The battle for talent never ends, and a brand-new office in a desirable location can be a major draw.
Con: Expect that some current employees will need to be sold on the move–especially if their commute would be changing.
ECONOMIC INCENTIVES
Pro: Move to a great new space–and get paid for it? Where do I sign?
Con: If incentives are tied to certain metrics related to job creation or retention and your company can’t meet them, be prepared for negative PR and a possible backlash.
Jobs, Jobs and more Jobs. The construction industry is in the midst of a very strong rebound from recent years. As you drive around Boston, you’ll notice the skyline littered with construction cranes from the Seaport to Back Bay; that means the once soft construction industry is on a frantic pace to keep up with the supply of new office buildings and residential communities.
A Banker & Tradesman editorial examining the economic impact of the construction boom, indicates that it has “pushed general contractors and builders across the Greater Boston region to increase their ranks with project and assistant project managers, superintendents and business development professionals.”
B&T subscribers can read the complete article on the building surge.
Alternatively, you can jump over to BostonOfficeSpaces to view all available commercial real estate in Boston, or office listings in Cambridge.