Short on time? Here are the highlights of our third quarter Greater Boston Industrial MarketView. To request the full report, fill out the form at the bottom of this post.
The Greater Boston Industrial market sustained its momentum into the third quarter, recording almost 530,000 sq. ft. of absorption in Q3 2017 and over 1.6 million sq. ft. year-to-date. The outlook remains positive as strong rents, accompanied by declining availability and vacancy, continued through the third quarter.
Demand for industrial space closer to the city continued to increase, while some obsolete industrial product in the suburbs is under consideration for redevelopment. With urban rents increasing, companies have been looking to land close to the city along the Route 128 belt; however, due to tight space, some are being pushed out to the quieter Route 495 market.
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.
- Owner’s Project Manager: CBRE/New England
- General Contractor: Consigli Construction
- Architect/Engineer: CannonDesign
- Civil Engineer: vhb
- Legal: Sherin & Lodgen
- Brokerage: McCall & Almy
For more information about CBRE/NE’s Project Management services, please contact email@example.com.
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
- Deal of the Year: Jounce Therapeutics, Inc.
- Digital Health Company of the Year: Rest Devices
- Entrepreneur of the Year: Kurt Graves, Intarcia Therapeutics
- Exit of the Year: Nimbus Apollo
- Fund of the Year: Third Rock Ventures
- Hottest Early Stage Startup – Therapeutics: Magenta Therapeutics
- Hottest Early Stage Startup – Tools & Tech: 3Derm
- Rising Star VC: Michael Gladstone, Atlas Venture
- Angel of the Year: Joe Caruso
- Clean Tech Company of the Year: Sense
- Entrepreneur of the Year: Ric Fulop, Desktop Metal
- Fund of the Year: Highland Capital Partners
- Hottest Early Stage Startup: nuTonomy
- Next Pillar Tech Company: Turbonomic
- Rising Star Entrepreneur: Liz Powers, ArtLifting
- Rising Star VC: Juan Luis Leung-Li, General Catalyst
CBRE/NE’s Amarante & Brinch present Third Rock Ventures with the Fund of the Year award for Healthcare & Life Science (Courtesy of the NEVCA)
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.
CBRE/New England works with several clients to pursue WiredScore Certification, the international standard for cutting-edge internet connectivity in office buildings. Recently, three office buildings in our leasing portfolio within the Greater Boston area have achieved Platinum and Gold Wired Certification for having best-in-class connectivity infrastructure—One Boston Place and 33 Arch Street, both owned by TH Real Estate, and 451 D Street, owned by a joint venture between Meritage Properties and Commonwealth Ventures.
33 Arch Street – Platinum Wired Certification
To achieve Wired Certification, properties must meet a rigorous set of standards developed in conjunction with the top minds in the telecom and commercial real estate industries. The accreditation has proven to be a popular accolade amongst Class A and Class B buildings, citing further claim to which assets are more efficiently set up for today’s demanding tenancies.
“Network connectivity has become increasingly more important to corporate occupiers as the adoption of cloud computing, office collaboration, and telecommunicating gains momentum. It is imperative for building owners to provide their tenants with best-in-class connectivity options to stay relevant and competitive in the market. WiredScore has provided a great platform for owners to showcase their technology infrastructure in a concise and standardized manner.” – CBRE/NE’s Rich Modliszewski
451 D Street – Gold Wired Certification
By distinguishing buildings with the best tech capabilities, Wired Certification makes information about internet connectivity more transparent than ever before, enabling commercial buildings to benchmark themselves against a single standard and upgrade their offerings and allowing businesses to identify the best buildings in which to grow.
One Boston Place – Platinum Wired Certification
For more information about the WiredScore program and CBRE/NE’s expertise in Data Centers & Telecom, please reach out to Rich Modliszewski and Brad McLaughlin.