0 Suburban Office Space Outside of Boston Draws Interest

233 Cochituate Road, Framingham, MA

Office building in Boston suburbs

Moving out to the burbs, who would have thought?  With innovation and technology booming in the greater Boston area, Boston proper is running out of space. With arms wide open, the suburban market place is gearing up and ready to accommodate.

Posh areas have revitalized their sleepy town centers and have agreed that designating suburban land for commercial space must be done in order to utilize the real estate properly. There is a need for housing, there is a need for social adventure, and there is s definite need for space!

Northland Investment Corporations undertook this project as they saw the pressing needs and desires. Back in August, the Town of Waltham underwent a huge makeover, from its quiet town center now being primed to focus on luring the full lifestyle package changing the stereotype of the lethargic 1950’s old school, soda pop Main Street into a modern, young and vibrant center.  When the development of Marc at Moody and Main began many questioned the intent, but this is a great way to bring flair and affordability, convenience, and energy into the region. Situated just 7 miles from the heart of Boston with some of the best transportation in the country, is a plus. A true live, work, play environment has been achieved. With more and more influence and expansion the burbs are not heading back to sleep.
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0 MA Ranks 3rd for Expected IPO’s in 2015

281 summer street in south Boston

South Boston office building at 281 Summer St.

Massachusetts ranks 3rd nationally behind California and New York for 2015 IPO’s from Tech Firms.

The BBJ notes, approximately “588 tech companies across the nation are in the IPO pipeline, running roughly equal to the 590 tech firms that were in the pipeline at this time last year, according to a new report by CB Insight…Massachusetts has the third most tech companies in the IPO pipeline: 44…The top Massachusetts companies include Bit9 of Waltham, Actifio of Waltham, Veracode of Burlington, Simplivity of Westboro, and Dataxu of Boston.”

You can read the full article on the Boston Business Journal’s website, here.

0 Boston Suburban Office Parks get Reinvented

Owners and developers across Eastern Massachusetts are seeking to reinvent the suburban office park. In communities such as Waltham, Newton and Needham, developers are adding restaurants, hotels and other amenities to replicate the idea of “live, work, play,” which is an increasing popular attraction in the city. Needham’s soon-to-be largest office tenant, Trip Advisors, will benefit directly from this “live, work, play” attraction.

Wells Avenue office park in Newton, MA

Credit: The Boston Globe

The Boston Globe quantifies the divide between Boston’s urban and suburban landscapes:

“Along Interstate 495, the vacancy rate for Class A offices is hovering at nearly 18 percent, compared with 11.5 percent in Boston and less than 6 percent in Cambridge. Commercial rents are depressed. Offices lease for only $20 per square foot in the region, less than half of what similar space fetches in Boston and Cambridge, according to Jones Lang LaSalle, a commercial real estate firm.”