On Monday, July 17, 2017, the CBRE/New England Owner’s Project Management & Development team held a groundbreaking ceremony for their first ground-up construction project—a new 30,000 SF Brigham and Women’s Health Care Center in the University Station Development in Westwood, MA. The medical office building will house primary care, specialty care on a rotating basis, and an urgent care clinic.
“With a variety of services under one roof, the new location will offer quality care closer to home for our many patients from the Westwood area,” said William C. Johnston, Senior Vice President of Ambulatory Services at Brigham and Women’s Hospital.
The Center is located at 100 Brigham Way, bordering the Route 128 Amtrak and MBTA Station stop for easy accessibility. The expected grand opening is fall 2018.
For more information about CBRE/NE’s Project Management services, please contact firstname.lastname@example.org.
Dunkin’ Donuts Park, in its maiden season as home of the Hartford Yard Goats, has been named the Best Double-A Ballpark in America, per a recent poll conducted by Ballpark Digest. The online poll—which began May 30th before concluding on June 20th—achieved participation by 178,000 fans, with each of the 30 Double-A ballparks in the nation considered. Dunkin’ Donuts Park faced fierce competition (with Pennsylvania club Altoona Curve coming in second) and is a testament to the draw of the Yard Goats’ new home. The park has already sold out 15 times this season, including 11 of the last 17 games.The park’s design emphasizes socialization as a critical part of the game experience, with a multitude of concession options on offer, as well as amenities including the Travelers Fun Zone. This endeavor clearly has resonated with visitors to Dunkin’ Donuts Park, and their rapid incorporation of the park into the center of Hartford’s entertainment scene indicates the beginning of an exciting new period in Downtown North. The stadium’s function as another downtown entertainment option further provides employees with greater opportunity to meet, mingle and network in this evolving 18-hour city.
The ramifications of a revitalization of this section of the city are substantive and positive: increased vibrancy and available amenities in the area will be a boon for businesses as Hartford’s CBD expands northwards, furthering a collective optimism regarding the city’s future.
Short on time? Here are the highlights of our first quarter Greater Boston Industrial MarketView. To request the full report, fill out the form at the bottom of this post.
After ending 2016 with record-breaking absorption of over 3.4 million sq. ft., the Greater Boston Industrial market set its bar high. While it would have been difficult to replicate that sort of showing two quarters in a row, Q1 2017 was still a solid three months, with positive absorption in all three markets for a cumulative 440,000 sq. ft.
Vacancy remained low, with single-digit numbers across the board, and asking rents stayed elevated year-over-year.
Two distinct themes shaped and bolstered the market in the first quarter, the first being organic growth by local companies, and the other new entrants to the Greater Boston market—indicative of the area’s increasing visibility and appeal on the national stage.
On May 17, 2017, the New England Venture Capital Association (NEVCA) hosted one of Boston’s biggest award shows. For the past five years, the NEVYs have brought together the growing Tech and Life Science communities, all under one roof. This year’s event was held at Boston’s House of Blues.
Awards were presented to Tech and Life Science finalists in the following categories:
Healthcare & Life Science
Congratulations to all of this year’s NEVY nominees and award winners!
For more information about the NEVCA and CBRE/New England’s expertise in Tech and Life Science communities, please reach out to Adam Brinch or Nick Amarante. Follow the NEVCA on Twitter for updates on upcoming events and other networking opportunities.
Short on time? Here are the highlights of our first quarter Boston Suburban Office MarketView. To request the full report, fill out the form at the bottom of this post.
To begin the year, the Greater Boston Suburban Office market recorded 320,388 sq. ft. of positive absorption, as considerable activity in the Metro West bolstered the market, much of which was holdover from slow-moving deals in 2016.
Life sciences continued to drive demand, and as tenants began to shift outwards from tighter urban markets, buildings with strong amenities experienced the most success, as the push for quality office space continued to rise.
Availability dropped 20 basis points (bps) quarter-over-quarter to 20.5% as large tenant renewals and organic growth from established companies continued to be a theme.
Despite the decline in availability, vacancy increased 50 bps, quarter-over-quarter, to 18.1%, while rents remained relatively flat, ending Q1 2017 at $22.78 per sq. ft.
On May 12, 2017, the Huntington Avenue YMCA hosted Boston’s newest corporate competition, the 2017 Huntington Games. CBRE/New England competed against Boston Realty Advisors, Cushman & Wakefield, Engles & Völkers, First Republic, LINK, Millenium Partners and Prince Lobel Tye LLP for the coveted Huntington Cup. All proceeds benefitted the YMCA Achievers program, summer camps and other initiatives that are critical to the Greater Boston community.
Several CBRE/NE employees participated in this year’s intra-industry competition. The afternoon’s schedule was filled with a variety of wellness and team-building activities including high-intensity interval training, cycling, dodgeball and other fitness circuits.