The New Office/Lab Thread

TallIsGood said:
BCG is at Exchange Place/53 State St.
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Sure, but also at One Beacon according to the linked article:
Boston Consulting Group, One Beacon’s longtime tenant, might be leaving the tower for Pier 4 in the Seaport...
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Pretty sure they have a lot of square footage in multiple buildings...
 
cjbski said:
WOW!
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If they want the seaport, that's probably Parcel D for starters. But that would only be half their desired SF. There's also the remaining Fan Pier parcel that's nearby. Do both, and you get 1 million.
 
Not sure if the Seaport is a hard requirement for Amazon since the tweet says "likely Seaport". But if they're considering other areas, the Landmark Center would be a great pick IMO. It currently has ~1M sqft of office space and Samuels is going to build another 500k sqft of lab space next door.

I'd imagine the office rents are much cheaper in Fenway than in the Seaport. Another plus is that it would be considerably easier to get to the Kendall office via the CT2 bus in Fenway than it would be from deep within the Seaport.
 
Not sure if the Seaport is a hard requirement for Amazon since the tweet says "likely Seaport". But if they're considering other areas, the Landmark Center would be a great pick IMO. It currently has ~1M sqft of office space and Samuels is going to build another 500k sqft of lab space next door.

I'd imagine the office rents are much cheaper in Fenway than in the Seaport. Another plus is that it would be considerably easier to get to the Kendall office via the CT2 bus in Fenway than it would be from deep within the Seaport.
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The problem is the Green Line is joke of a subway line compared to Red/CR @ South, Orange not far away either at Chinatown or Blue @ Aquarium.
 
Hmm, I wonder if they have already ruled out Boston for HQ2 and this buy might be a consolation prize?
 
statler said:
Hmm, I wonder if they have already ruled out Boston for HQ2 and this buy might be a consolation prize?
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Maybe, but don't think so. The article suggests that they've been at this quietly for a while, maybe even before the RFP came out in September and certainly before the bids were in.
 
That's great news about Wayfair. They seem to have made a concerted effort to stay within the city. (A co-founder lives in the South End and can walk to work.) Admirable, and makes sense if they want to get nearby talent. (Although with a starting salary ~$600/week, many have to live outside the city, itself.)

One could make the argument that tax incentives, etc., should go to a company like Wayfair instead of a washashore like GE or Amazon, but I don't see it as an "either-or" especially since it appears Wayfair hasn't even asked for any handouts. Plus, it's a shadow of the size of those other two corporations.

I HATE giving private companies any of the city or state's money but felt GE and Amazon (if/when it happens) were exceptions to the rule. Too much upside. (Plus the amounts, at least for GE, were so minuscule.)

Regarding Wayfair, they used to lease space at 500 Boylston when they were in-between 177 Huntington and Copley Place so going back there wouldn't be unexpected. I fear they'll start sending jobs to the suburbs, at least some of the back-office, no matter how much we want them to stay, in the search for profit(s).

For some reason, I can't imagine them taking space in an under-construction building, they just seem like a different type of company than that. But .. put their name on the exterior, maybe they'll bite?
 
JumboBuc said:
Globe: Wayfair needs a home for the 10,000 workers it plans to hire

Wayfair is looking for up to 1 million (!) sf of office space. Its current space is in the Back Bay, and real estate sources say that's where they're looking.
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Where else is there in the back bay that could provide that kind of square footage? Back Bay Garage development - that might make sense because they're already at copley.

Of course I'd rather see them take over One Congress or SST or Winthrop Sq.

I think they are growing their technical staff considerably...they've been working on a lot of augmented reality stuff ("visualize / try out products before you buy them").
 
bigpicture7 said:
https://www.bankerandtradesman.com/no-let-seen-office-lab-demand/


(among several other already-known space search announcements).
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Any predictions on where these companies could be moving into? That article alone cited 1.2 million sq ft in Cambridge and 1.2-1.7 million sq ft in Boston being sought after, and 300k+ recently signed, and that has just been what has been released to the public in the past month or so... add on smaller tenants and maybe potential future larger tenants, and we're looking at a reasonably large spike in demand over the past month or 2.

Anybody thinking lease signings at Hub on Causeway (after WeWork and Rapid7 took the podium office space)? Bulfinch Crossing? L Block in the Seaport?
 
stefalarchitect said:
Anybody thinking lease signings at Hub on Causeway (after WeWork and Rapid7 took the podium office space)? Bulfinch Crossing? L Block in the Seaport?
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Some people are. From the article:

Such large commitments could kick off construction of approved office towers looking for anchor tenants at South Station, Bulfinch Crossing and the Hub on Causeway at North Station.

“The one that has the fundamentals to do it is Boston Properties with the Hub on Causeway,” [Ron] Perry [of Avison Young] said. “They have the retail infrastructure there. The market’s really improved over there and I think that could happen.”
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Archboston should move into one of these office towers. Hire a few people get a small office in one of these towers and find a way to monetize the site without subscriptions. Then with this hq you can now have a space for people to meet and it could be the answer to countering the anti development community. Now you can setup meetings with people from the city to meet with other people with planning ideas. Also its a ground zero for getting people mobilized to go to the meetings prepared to counter argue. There could be a much bigger picture than just the website it could turn into a force of its own within the city. I think that would be pretty cool. I dont know how non profits could go but maybe be able to host events in the city for awareness of needed progress and get donations. Idk there could be tons of directions you could take it to turn this into the voice of the people in the city that goes up against the big dogs and helps get shit done in this city. Id try to go in a direction like that if I owned this site it would be my job.
 
stick n move said:
Archboston should move into one of these office towers. Hire a few people get a small office in one of these towers and find a way to monetize the site without subscriptions. Then with this hq you can now have a space for people to meet and it could be the answer to countering the anti development community. Now you can setup meetings with people from the city to meet with other people with planning ideas. Also its a ground zero for getting people mobilized to go to the meetings prepared to counter argue. There could be a much bigger picture than just the website it could turn into a force of its own within the city. I think that would be pretty cool. I dont know how non profits could go but maybe be able to host events in the city for awareness of needed progress and get donations. Idk there could be tons of directions you could take it to turn this into the voice of the people in the city that goes up against the big dogs and helps get shit done in this city. Id try to go in a direction like that if I owned this site it would be my job.
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Courbanize.com (I’d have to guess) has monetized their site and has features where the public can comment on projects (and be responded to). I don’t think the coverage of projects is as complete and expansive as some of the threads on here but it’s worth mentioning that some organizations are trying.
 
With the recently announced CVS-Aetna merger, I wonder if we'll be hearing about that particular office relocation plan again. CVS is a more or less "local" company, and they've been looking for a foothold in downtown Boston for the same talent reasons as everyone else. Nixing the Aetna-to-NYC plan in favor of Boston would seem to make sense from both a recruitment and logistics standpoint.

Globe seems to think they'll just stick with Hartford: http://www.bostonglobe.com/business...ed-cvs-deal/bESYdk2FOI2CVVZHSLciwO/story.html
 
Interesting tidbit: Wayfair has added a big sign on the Copley Place office building they occupy. It's right in your face when you walk out of Back Bay Station. Can also be viewed clearly from areas nearby.

Isn't the city usually very much against this type of signage, particularly in a place like Back Bay that's already established?
 
WeWork is taking 100k sf at 33 Arch. This is half of the 200k sf being vacated by Digitas as it leaves 33 Arch for 40 Water st (the Quaker Lane + Congress Square project). [Globe]

WeWork's an interesting tenant for a traditional office tower. Landlords like leasing to big companies on long-term established leases, but much of the growth in office employment comes from small companies with uncertain and variable demands for space. WeWork bridges that gap nicely; they can commit to the big floorplates on long-term agreements that landlords want and then turn around and rent chunks of it out to the little guys on flexible terms.
 
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