0 Boston Office Towers: Occupancy Drop; Rents still Climbing

Posted on November 10, 2013 by Wil Catlin

28 State Street – Office Building

Where is the value in office space within Boston? Low and mid-rise Class A.

Tenants in recent years have worked on space efficiency like State Street with their new facility in the Seaport, which will have less than 100 square feet per employee. Additionally, tenants have sought out a flight to quality by moving up in floors during the recent economic downturn and locking in rates for a longer term.

The Boston Business Journal cites a survey by Jones Lang LaSalle, “which examined 46 towers in the Back Bay, Financial District and the Seaport, found 22 buildings where occupancies dropped, while 21 saw increases and three were flat, year-over-year. Within the 31.8 million-square-foot office market, 5.7 million is available to lease – the equivalent of three John towers.”

More information from the survey is available on the BBJ’s website.

0 Is One Lincoln Street Stagnation a Sign of Larger Trend?

Posted on March 5, 2013 by Wil Catlin

State Street Financial Center at 1 lincoln

Photo Credit: Boston Business Journal

The office market is in the midst of an upswing as it pertains to rents, but from the value side, buyers are cautious. Have we peaked or is there more to come?

The Boston Business Journal article reported on the relative stagnation, noting that “twenty months after One Lincoln Street — also known as the State Street Financial Center — was put up for sale, the skyscraper remains on the market for $1.15 billion.”

Follow the link to read more about One Lincoln Street.