The New Office Thread

Equilibria

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jklo

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Didn't see this posted anywhere:

https://www.bostonglobe.com/business/2019/06/10/raytheon-merger-won-mean-big-layoffs-united-technologies-ceo-says/wvueh7VHyByhLHhzq2CeHO/story.html

Effectively, this is a United Technologies HQ move from Connecticut to Boston. Less than 100 jobs shifting for now, but the combined company is not committed to Waltham, apparently. Easy to picture New Raytheon ending up in Cambridge Crossing.
Seems that a lot of the jobs are manufacturing. Can't see them moving those jobs here. Moving all the non-manufacturing jobs into Cambridge would make sense.
 

Rover

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Nice win for Mass. While some people may look at this as poaching an HQ from CT, you have to look at the larger picture. With a market cap of around 50Bn, Raytheon was in danger of getting bought by a larger competitor from outside the region and its HQ being far, far away. Now it will become the most valuable company in New England on any given day, depending on how long it takes GE to recover and whether or not Thermo Fisher keeps growing.

Yes its a kick in the shorts for Connecticut, but that's not Mass' problem.
 

12345

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meddlepal

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Article also hits on one of Boston's biggest problems: brutally slow and complex development process.
 

curcuas

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That pull quote hits one of our biggest problems - office (and resi) developers who are terrified of another 80s style crash and are instead neglecting market fundamentals leading to a massive squeeze.
 

cjbski

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New "Spaces" co-working space opening in 75 State Street in former Santander branch.
 

whighlander

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Mildly interesting, this list of office properties in Boxborough and which ones are seeking for abatements. There's one that's completely empty and another that has 60% vacancy. Even the one that estimated to be 100% full is still asking for one because the rents are so low.

https://acton.wickedlocal.com/news/20190805/map-of-boxborough-office-properties-and-abatements
Same time -- Hobbs Brook just leveled old smallish building and is building on spec 500,000 sq ft right next to Rt-2 in Waltham
 

stellarfun

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Posting this here, as I don't know a better place to put it.

Second most valuable VC biotech in the U.S. is doubling its space on Drydock Ave. Currently has nearly 300 employees.
...Jason Kelly, Ginkgo’s chief executive and cofounder, said the firm plans to use the cash to expand its laboratory and buy more production robots. Ginkgo occupies 100,000 square feet at 27 Drydock Ave. and expects to use another 120,000 square feet in the same building as it grows.

Given what Ginkgo produces, -- and Ginkgo says it doesn't want to do end-to-end -- the simple proliferation of cell lines of synthetic microbes could require a huge, future increase in square feet.

^^^ 27 Drydock Ave.,
 

whighlander

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Posting this here, as I don't know a better place to put it.

Second most valuable VC biotech in the U.S. is doubling its space on Drydock Ave. Currently has nearly 300 employees.


Given what Ginkgo produces, -- and Ginkgo says it doesn't want to do end-to-end -- the simple proliferation of cell lines of synthetic microbes could require a huge, future increase in square feet.
There is a lot of potential development space on the edge of the harbor just sitting and baking in the sun [during the summer] some of it is used to store snow in the winter and there was once a proposal to place the GE [and everyone else] Helipad there -- its a perfect location for a company with both serious R&D and also a product to produce needing high quality manufacturing facilities
 

stellarfun

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Demand drops for office space in Boston and Cambridge. Ten year boom slowing.
For the first time since Great Recession of 2009, tenants in the third quarter cut back on office and lab space in Boston, Cambridge and the suburbs, said Aaron Jodka, who leads the research team at Colliers International Group Inc.’s Boston office. A quarter-over-quarter reduction in occupied space in all three markets has only happened during recessions or in the early stages of a recovery, he said.
 

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