Dozens of startup companies have found a new destination for affordable office space: Downtown Crossing. The more popular destinations, such as Boston’s Seaport/Innovation District and Kendall Square in Cambridge, have proven too expensive for these emerging companies. The 1.4 million square foot Downtown Crossing submarket is better known as the hub of department store shopping […]
Commercial real estate firm Cassidy Turley recently relocated its Minneapolis headquarters to the IDS Center in downtown Minneapolis. Prior to this move, Cassidy Turley engaged its younger employees – known as millennials – in the office space conversation to gain an idea of what they had in mind for the future of the company. Millennials […]
Adding to the growing concentration of startup companies expanding to Boston, Nasuni Corporation is opening up a second office in the Hub. Currently headquartered in Natick, Nasuni’s new sales and marketing office at 101 Arch Street is expected to open as early as July 1st. Nasuni is a storage vendor known for introducing Storage Infrastructure-as-a […]
Boston-based real estate investment and development firm Synergy Investments is continuing its spending spree, partnering with DivcoWest to buy a pair of office buildings and a parking garage in Boston’s Seaport District. Synergy is paying The Archon Group $53 million for the sale of these three properties. The properties include 319 A Street, a 48,000-square-foot […]
Liability insurance provider Coverys announced that as part of their expansion, they are relocating their Boston headquarters to One Financial Center in South Station. Coverys signed a 15-year lease for 60,000 square feet of office space in the 46-story, 1.3-million-square-foot tower. The company currently occupies 49,000 square feet at 101 Arch Street. They are expected […]
Multi-Employer Property Trust, a pension-backed fund based in Washington D.C. recently announced that Burlington Centre, a 620,000 square foot office park in Burlington, is officially on the market. MEPT first bought the property in 1991 for $21.3 million, and the property’s sale could net as much as $100 million. With the continuous expansion of the […]
In less than a week from now, the massive redevelopment project of NorthPoint will take a major step forward. The ceremonial groundbreaking of one of the project’s apartment towers is scheduled for Wednesday May 29th. Located on a 45-acre parcel of land in Cambridge at the edge of the Charles River, the property is expected […]
by Byron Chen After the first quarter of 2013, Boston’s Retail market experienced minimal change in market conditions. The retail market saw its vacancy rate decrease from 4.4% at the end of 2012 to 4.3% at the conclusion of this most recent quarter. Vacant sublease space has trended down as well this quarter, finishing with […]
In the past years, the commercial real estate market has experienced a multitude of changes in response to poor economic conditions. Tenants, particularly large public firms, have been downsizing to cut costs. Office spaces are changing to accommodate downsizes. For example, non-dedicated offices and flex spaces are being utilized to diminish costs. In addition, Norm […]
