DOCSLIB.ORG

Boston Office Market Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Boston Office Market Report BOSTON OFFICE MARKET REPORT THIRD QUARTER 2019 BOSTON MARKET FINISHES UP HOT SUMMER Despite summer coming to a close, Boston’s real estate market remained hot. Over the course of the third quarter, vacancy and availability declined and asking rates continued to increase. Developers continued to look to take advantage of the ongoing demand for space in the city, with several developments due over the next few years which should bring much needed relief to this extremely tight market cycle. A portion of current requirements represent the overflow from the even tighter Cambridge market, with life-science tenants now pursuing alternatives to a Cambridge address. WS Development’s project at 400 Summer Street reflects this new trend, with site work commencing soon, Foundation Medicine has already committed to the entire 16-story building. On a macro level, the region's demographics and economy have remained solid helping to support and promote Boston's recent expansion. Firmly rooted in education, technology and life sciences, Boston's diverse economic base has submitted strong job growth through increased recruitment and skilled labor retention from the area’s leading universities and institutions. Looking forward, expect durable market conditions and a diversified economy to guide the region's commercial real estate market to a strong performance over the next few years. 2.9% 3.7% $12B #1 AUGUST AUGUST MASSACHUSETTS NATIONALLY MASSACHUSETTS NATIONAL ANNUAL (2018) R&D FUNDING UNEMPLOYMENT UNEMPLOYMENT VC FUNDING PER CAPITA CLASS A MARKET ASKING RATE VS. DIRECT VACANCY TRENDS $70.00 16.0% $67.00 14.0% $64.00 12.0% $61.00 GLOBAL DESTINATION $58.00 10.0% World leader in medical innovation and technological advancement $55.00 8.0% $52.00 6.0% $49.00 DEMAND PUSHES 4.0% $46.00 DEVELOPMENT 2.0% $43.00 Significant demand has produced a large development pipeline $40.00 0.0% 20192018201720162015201420132012201120102009200820072006 Average Asking Rate Direct Vacancy (%) TECHNOLOGY & INNOVATION HUB Fortune 500 leaders and 1,900 homegrown startups CLASS B ASKING RATE VS. DIRECT VACANCY NEW LIFE SCIENCE HUB $55.00 16.0% As Cambridge fills up, life science tenants look to the Seaport for a new home $50.00 14.0% $45.00 12.0% COWORKING SPACE $40.00 10.0% DISRUPTING MARKET $35.00 8.0% Tenants like flexibility and shorter term commitments $30.00 6.0% $25.00 4.0% TENANTS FAVOR $20.00 2.0% CREATIVE OFFICE $15.00 0.0% Open layouts, contemporary and 20192018201720162015201420132012201120102009200820072006 collaborative environments Average Asking Rate Direct Vacancy (%) DIRECT VACANCY RATE BY SUBMARKET North Station Financial District Midtown Seaport South Station Back Bay Charlestown Fenway 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% QUICK GLANCE MARKET STATS VACANCY SUBLEASE AVAILABILITY 3.8% 1.4% 10.0% ABSORPTION CONSTRUCTION ASKING RATE 1.43MM sf 2.4 MM sf $61.56/sf North Station North End $55.35/SF Beacon Hill Financial District Back Bay $62.82/SF $64.47/SF Midtown $51.43/SF South End South Station $54.35/SF Seaport $64.74/SF CLASS A OFFICE 3.0% • Foundation Medicine confirmed that it plans to lease nearly all of a DIRECT VACANCY 16-story building that will be built at 400 Summer Street in Seaport Square, and consolidate its workforce of about 1,100 at the new headquarters. At 580,000 square feet, it’s the largest office lease signed in Boston since Vertex Pharmaceutical moved to the Seaport five years ago. It continues a wave of huge deals that are triggering the construction of large office buildings across greater Boston. Following the relocation, Foundation Medicine will be able to consolidate all of its employees under one roof including additional room to grow. # 1.5% • With continued life science demand outside of Cambridge, SUBLEASE AVAILABILITY developers are seeking entitled sites to accommodate these new requirements. In July, 105 West First Street, a 1-acre South Boston property that was approved for 250,000 square feet of office and lab space, was sold to Tishman Speyer for over $300/FAR which sets a new high water mark for land in Boston. Also in the Seaport at Skanska's speculative development at Two Drydock, market rumors suggest that the landlord may receive long term commitments from both Shell and MullenLowe which would both be significant market 9.6% relocations. TOTAL AVAILABILITY • Online security firm Rapid7 leased an additional 67,000 square feet at The Hub on Causeway office tower, after moving into its new headquarters in the initial phase of the project’s podium office space in July. The long-term lease for the ninth and tenth floors begins in June 2021 with an initial rental rate of $60/SF NNN. In 2017, Rapid7 leased 157,000 square feet in the office podium building at The Hub. The online security firm will join Verizon in the tower portion when that is completed in Summer 2021. # 1,284,950 SF • Carr Properties increased its ownership stake in One Congress, 12-MONTH ABSORPTION the future one million square foot office tower in Boston that will be home to State Street when complete in 2022. Carr boosted its ownership to 75 percent from 50 percent. The DC based investor has made a strong push into the Boston market over the past 18 months having also acquired 200 State Street and hotly contesting the acquisition of several other Class A properties. # $66.57/SF AVERAGE ASKING RATE CLASS A OFFICE NOTABLE QUARTERLY LEASES ADDRESS SUBMARKET TENANT SF 400 Summer Street Seaport Foundation Medicine 580,000 100 Summer Street Financial District WeWork 117,000 125 High Street Financial District Burns & Levinson 103,000 200 Berkeley Street Back Bay WeWork 87,000 75-81 Arlington Street Back Bay WeWork 68,000 100 Causeway Street North Station Rapid7 67,000 One Beacon Street Financial District Robeco Investment Management 48,900 600 Atlantic Avenue Financial District Harvard Management Company 44,000 101 Huntington Avenue Back Bay Lincoln Financial Group 43,600 225 Franklin Street Financial District Raymond James 25,250 AVERAGE ASKING RATE AVERAGE DIRECT VACANCY BY SUBMARKET BY SUBMARKET $78.00 18.0% $72.00 15.0% $66.00 12.0% $60.00 9.0% $54.00 6.0% $48.00 3.0% $42.00 0.0% 201920182017201620152014201320122011201020092008 201920182017201620152014201320122011201020092008 Financial District Seaport Back Bay 93 Wood Island 28 1 Airport Community College Constitution Wharf 28 Lechmere Portfolio Constitution Wharf Maverick Battery Airport Terminal C 93 Wharf SUMNER TUNNEL 1 LOGAN AIRPORT Science Park North Station LincolnCALLAHAN TUNNEL RECENT Wharf Central Union Airport Terminal A Wharf Sargents Wharf 90 Airport Terminal B2 Lewis Kendall/MIT Wharf Haymarket Airport Terminal B1 LONGELLOW BRIDGE INVESTMENT 1 Bulfinch PlaceCharles/MGH Bowdoin Long Wharf Government Center Aquarium y a State St w n e MASSACHUSETTS e r G INSTITUTE OF TECHNOLOGY 3 y d e n Park St n Rowes e Wharf K Downtown Fan MASS AVE BRIDGE 75 State Street SALES e Crossing s Pier Boston o Commons R NORTHERN AVE BRIDGE Public EVELYN MOAKLEY BRIDGE Pier 4 Garden Boylston Chinatown South Station Pier 6 Court House TED WILLIAMS TUNNEL Arlington Pier 7 Boston University West 90 Copley Boston University East Boston University Central Tufts Medical Center 20 Blandford ST YAWKEY Kenmore World Trade Center Hynes Convention Ctr HYNES 90 PRUDENTIAL CONVENTION CENTER 90 CENTER Back Bay Silver FENWAY Line PARK 28 Herald ST Way Prudential BOSTON 40 Channel Center Street3 CONVENTION & EXPO CENTER Fenway Back Bay 93 LANDMARK Fens CENTER E.Berkeley ST 1 Symphony Broadway Union Park ST 9 Massachusetts Ave 28 Northeastern Newton ST City Point Museum Of Fine Arts Worcester Square Ruggles Longwood Medical Area Massachusetts Ave 9 Lenox ST Brigham Circle 75 STATE STREET CONSTITUTION WHARF PORTFOLIO $635,000,000 ($755/RSF) $114,000,000 ($846/RSF) Buyer: Divco West and Rockpoint Group Buyer: Jamestown 1 BULFINCH PLACE 40 CHANNEL CENTER STREET $39,000,000 ($437/RSF) $18,000,000 ($682/RSF) Buyer: EverWest Investors Buyer: Akelius US CLASS B OFFICE 5.5% DIRECT VACANCY • WeWork has been atop headlines all summer yet again. After taking a significant hit to their valuation due to a lack of potential profits, WeWork has now delayed their initial public offering. Despite turmoil surrounding their business practices, the coworking giant did not slow down locally. WeWork recently leased approximately 87,000 square feet of space at 200 Berkeley Street, with plans to occupy six floors in the 26-story office tower. Currently, coworking 1.3% providers occupy 3.8 million square feet of office space in Boston, Cambridge, and Somerville. WeWork’s latest deal expands their SUBLEASE AVAILABILITY footprint to over 1.6 million square feet. • The investment sales market closed out the summer with three noteworthy transactions. Perhaps drafting off their recent success in West Cambridge, Invesco purchased a stake in the 375,000 square foot property at 88 Black Falcon Avenue from The Davis Companies for just over $150 million. One Bulfinch in North Station was acquired in September by EverWest Investors for $39 million, 10.8% or $437 per square foot. The 89,000 square foot office building is fully leased by Boston Sports Club and the Suffolk County District TOTAL AVAILABILITY Attorney. Lastly, 40 Channel Center Street, a 22,000 square foot office building in the Seaport, was purchased by Akelius for $18 million. • Boston-based law firm Morrison Mahoney signed a lease this quarter for 60,100 square feet at 250 Summer street in the Seaport. In the Financial District, WinnCompanies signed a lease for 27,400 square feet at One Washington Street. WeWork rival Knotel expanded its # 144,500 SF Boston footprint this quarter with a 27,000 square foot lease at 239-245 Causeway Street in the North Station submarket.
Load more

Recommended publications
  • Greater Boston Market Viewpoint
    GREATER BOSTON MARKET VIEWPOINT 3RD QUARTER 2014 Accelerating success. MARKET VIEWPOINT | Q3 2014 Boston Overview The vacancy rate in the 62.8-million-square-foot Boston office The largest third quarter leases represented Financial District market dropped to 11.1% during the third quarter, and nearly Class A buildings, with select transactions including: 800,000 square feet of positive absorption was recorded. The core Financial District and Back Bay submarkets were largely Tenant Address SF Submarket Financial responsible for the increased occupancy, with 522,000 and Sonos (n) Lafayette City Center 170,000 District 248,000 square feet of absorption, respectively. Financial CDM Smith (n) 75 State Street 170,000 While most of the smaller peripheral submarkets report single- District Financial State Street Bank (r) 100 Summer Street 167,000 digit vacancies, the vacancy rate in the Financial District is 13.1%, District a marked improvement from early 2011 when it topped 20%. Financial Choate Hall & Stewart (c) Two International Place 135,000 District Statistics in the core submarkets are as follows: Financial Jewish Vocational Service 101 Federal Street 42,200 District Supply Market Segment SF Available Vacancy Rate Financial Atlantic Trust 100 Federal Street 40,000 (SF) District Financial District – Class A 27,544,321 3,847,840 14.0% (n) = relocation from Cambridge (c) = contraction (r) = renewal Financial District – Class B 6,054,905 542,551 9.0% Back Bay – Class A 10,863,855 1,131,593 10.4% • The Financial District accounts for a slightly disproportionate Back Bay – Class B 2,030,085 311,428 15.3% share of the leasing activity thus far in 2014, with roughly 60 Seaport – Class A 3,067,295 209,696 6.8% percent of transaction velocity, compared to the Back Bay and Seaport – Class B 4,545,896 343,677 7.6% Seaport at 23 percent and 11 percent, respectively.
    [Show full text]
  • Softbank Bailout Would Give It Control of Wework: Sources 14 October 2019
    SoftBank bailout would give it control of WeWork: sources 14 October 2019 address short-term financing needs, according to the sources. The company has asked JPMorgan Chase to organize a debt financing round to raise up to $5 billion from other investors, said the sources, confirming details reported earlier by the Wall Street Journal. "WeWork has retained a major Wall Street financial institution to arrange a financing," a WeWork spokeswoman said. "Approximately 60 financing sources have signed confidentiality agreements and are meeting with the Under a possible plan, SoftBank would provide needed company's management and its bankers over the funding for WeWork in exchange for control of the course of this past week and this coming week." company, sources told AFP A person familiar with the matter said the two options are not in competition, but that supporters of the company are mulling over the best option. Japan's SoftBank Group has prepared a financing SoftBank could also participate in the round plan that would give it control of WeWork as the organized by JPMorgan. office sharing startup seeks badly- needed financing, sources told AFP Monday. SoftBank, which already holds about 29 percent of the We Company, could also purchase shares not The plan would give SoftBank, which is controled held by Neumann, which would value the We by billionaire Masayoshi Son, more than 50 Company overall at around $10 billion, the sources percent of WeWork and further limit the influence said, well below the $47 billion a few months ago. of former chief executive and co-founder Adam Neumann, said sources who spoke on the WeWork needs to raise at least $3 billion to cover condition of anonymity.
    [Show full text]
  • Directory of Massachusetts LOBBYISTS   617.646.1000 - BOSTON - WASHINGTON DC GREG M
    Directory of Massachusetts LOBBYISTS 617.646.1000 - www.oneillandassoc.com BOSTON - WASHINGTON DC GREG M. PETER J. VICTORIA E. MARK K. MATTHEW P. D’AGOSTINO D’AGOSTINO IRETON MOLLOY MCKENNA Lobbying & Public Aairs Providing comprehensive state and municipal advocacy. PRACTICE AREAS: TRANSPORTATION | HEALTH CARE PUBLIC SAFETY | REGULATIONS | ENERGY ENVIRONMENT | CANNABIS FINANCIAL SERVICES | EMERGING INDUSTRIES 12 POST OFFICE SQUARE, 6TH FLOOR | BOSTON, MA 02109 | 6175743399 WWW.TENAXSTRATEGIES.COM David Albright Oamshri Amarasingham Cynthia Arcate Jewish Alliance for Law and Social Action American Civil Liberties PowerOptions, Inc. A 18 Tremont Street, Suite 320 Union of Massachusetts 129 South Street, 5th Floor Boston, MA 02108 211 Congress Street Boston, MA 02111 Anthony Arthur Abdelahad (617) 227-3000 Boston, MA 02110 (617) 428-4258 Ventry Associates LLP (617) 482-3170 1 Walnut Street Walter Alcorn Luz A. Arevalo Boston, MA 02108 Consumer Technology Association Robert J. Ambrogi Greater Boston, Legal Services (617) 423-0028 1919 South Eads Street Law Office of Robert Ambrogi 197 Friend Street Arlington, VA 22202 128 Main Street Boston, MA 02114 Tate Abdols (571)239-5209 Gloucester, MA 01930 (617) 603-1569 Onex Partners Advisor, Inc. (978) 317-0972 161 Bay Street Theodore J. Alexio Jr. Derek Armstrong Toronto, ON M5J 2S1 Essential Strategies Inc. Shannon Ames Bank of America, N.A. (416) 362-7711 One State Street, Suite 1100 Low Impact Hydropower Institute 100 Federal Street Boston, MA 02109 329 Massachusetts Avenue, Suite 6 Boston, MA 02110 Brendan Scott Abel (617) 227-6666 Lexington, MA 02420 (617) 434-8613 Massachusetts Medical Society (781) 538-4266 860 Winter Street Waltham, MA 02451 Daniel Allegretti Gabriel Amo Kristina Ragosta Arnoux (781) 434-7682 Exelon Generation Company, LLC Magellan Health 1 Essex Drive The Home Depot 8621 Robert Fulton Drive Bow, NH 03304 166 Valley Street, 6M222 Columbia, MD 21046 Lisa C.
    [Show full text]
  • Worry Over Mistreating Clots Drove Push to Pause J&J Shot
    P2JW109000-6-A00100-17FFFF5178F ****** MONDAY,APRIL 19,2021~VOL. CCLXXVII NO.90 WSJ.com HHHH $4.00 Last week: DJIA 34200.67 À 400.07 1.2% NASDAQ 14052.34 À 1.1% STOXX 600 442.49 À 1.2% 10-YR. TREASURY À 27/32 , yield 1.571% OIL $63.13 À $3.81 EURO $1.1982 YEN 108.81 Bull Run What’s News In Stocks Widens, Business&Finance Signaling More stocks have been propelling the U.S. market higher lately,asignal that fur- Strength ther gains could be ahead, but howsmooth the climb might be remains up fordebate. A1 Technical indicators WeWork’s plan to list suggestmoregains, stock by merging with a but some question how blank-check company has echoes of its approach in smooth theywill be 2019,when the shared-office provider’s IPO imploded. A1 BY CAITLIN MCCABE Citigroup plans to scale up its services to wealthy GES Agreater number of stocks entrepreneurs and their IMA have been propelling the U.S. businesses in Asia as the market higher lately,asignal bank refocuses its opera- GETTY that—if historyisany indica- tions in the region. B1 SE/ tor—moregains could be ahead. What remains up forde- A Maryland hotel mag- bate, however, is how smooth natebehind an 11th-hour bid ANCE-PRES FR the climb will be. to acquireTribune Publish- Indicatorsthat point to a ing is working to find new ENCE stronger and moreresilient financing and partnership AG stock market have been hitting options after his partner ON/ LL rare milestones recently as the withdrew from the deal.
    [Show full text]
  • Why Did “We” Not Work?
    LANGEVOORT.PRINTER.UPDATED (DO NOT DELETE) 7/18/2021 5:50 PM Corporate Adolescence: Why Did “We” Not Work? * Donald C. Langevoort and Hillary A. Sale In academic and public commentary, entrepreneurial finance is usually portrayed as a quintessential American success story, an institutional structure whereby expert venture capitalists with strong reputational incentives channel much-needed equity to deserving entrepreneurs, then subject them to intense monitoring to assure they stay on the path to hoped- for success in the form of an initial public offering or public company acquisition.1 Thus, it is jarring that in recent years there have been so many troubles, from gross embarrassments to allegations of outright criminality, at companies like Uber, Theranos, and our subject here, WeWork. These dramas are often portrayed in terms of the predictable sins of youthfulness: reckless, disruptive, risk-taking behaviors that come from the volatile interaction of a charismatic young leader and a cult(ure) of STEM-smart followers who buy into the dream.2 * The authors thank Craig Lewis, Sharon Nellis, and Elizabeth Pollman for their helpful comments and Olivia Brown, Samantha Glazer, Hollie Chenault, Claire Creighton, Jing Xu, and Michael Marcus for their research, insights, and good humor. 1. E.g., Bernard S. Black & Ronald J. Gilson, Venture Capital and the Structure of Capital Markets, 47 J. FIN. ECON. 243 (1998). 2. See generally JOHN CARREYROU, BAD BLOOD: SECRETS AND LIES IN A SILICON VALLEY STARTUP (2018) (discussing the Theranos scandal
    [Show full text]
  • Boston Office Market Report
    BOSTON OFFICE MARKET REPORT THIRD QUARTER 2017 FLAT ABSORPTION AMIDST MOVING PIECES As the nation’s 10th largest metro and population growth exceeding San Francisco, New York and Los Angeles, Boston has cemented its status as one of the premier Global Markets as a “must have” location. Not surprisingly, rumors surrounding Amazon’s HQ2 are running rampant with many local professionals thinking the Hub stands an excellent chance to land the second behemoth headquarters for the booming Amazon. In addition to the buzz surrounding the potential Amazon expansion, the local market remained extremely active with several large chips announcing relocations this quarter. Rental rents have responded favorably with the average rate eclipsing $55.26 per square foot. With a combined vacancy rate at 7.0% across Downtown’s eight distinct submarkets, the overall market has remained at its lowest levels since the dot-com boom of the early 2000’s. Firmly rooted in education, technology and life sciences, the region’s diverse economic base has submitted strong job growth through increased recruitment and skilled labor retention from the area’s leading universities and institutions. Looking forward, expect sound market conditions and a diversified economy to guide the greater Boston commercial real estate market to a strong performance over the next several years. # 4.2% # 4.4% # 2.9% 4th AUGUST AUGUST ANNUAL HIGHEST GDP MASSACHUSETTS NATIONAL WAGE GROWTH PER CAPITA UNEMPLOYMENT UNEMPLOYMENT NATIONALLY MARKET TRENDS CLASS A - ASKING RATE BOSTON 10TH LARGEST
    [Show full text]
  • Suffolk University Institutional Master Plan Notification Form
    SUFFOLK UNIVERSITY Institutional Master Plan Notification Form Submitted to Prepared by Boston Redevelopment Authority Vanasse Hangen Brustlin, Inc. Boston, Massachusetts In association with Submitted by Chan Krieger Sieniewicz Suffolk University CBT/Childs Bertman Tseckares, Inc. Boston, Massachusetts Rubin & Rudman LLP Suffolk Construction January, 2008 SUFFOLK UNIVERSITY Table of Contents 1. INTRODUCTION Background.............................................................................................................................1-1 The Urban Campus ................................................................................................................1-2 Institutional Master Planning Summary ..................................................................................1-3 2002 Suffolk University Institutional Master Plan....................................................1-3 2005 Amendment to Suffolk University Institutional Master Plan ...........................1-4 2007 Renewal of the Suffolk University Institutional Master Plan...........................1-5 2007 Amendment to Suffolk University Institutional Master Plan – 10 West Street Student Residence Hall Project .....................................................1-5 Public Process and Coordination............................................................................................1-6 Institutional Master Plan Team .............................................................................................1-10 2. MISSION AND OBJECTIVES Introduction.............................................................................................................................2-1
    [Show full text]
  • Boston Office Market Report
    BOSTON OFFICE MARKET REPORT FOURTH QUARTER 2017 OUTSTANDING YEAR LEAVES BRIGHT FUTURE The past year's headlines were marked by all the premier movers and shakers within the commercial real estate industry. Amazon remained the elephant in the room, with everyone from City Hall to Fenway Park speculating where the eCommerce behemoth will erect its new HQ2, if anywhere locally. Shrouded with somewhat less intrigue, GE began renovation efforts for its Fort Point headquarters despite shifting timelines and some uncertainty surrounding the scope of the larger development component. Beyond the stalwart Downtown and Seaport markets, the less publicized but increasingly competitive fringe markets including North Station and Brighton surged to close out the end of the year. Several tenant relocations from the Core markets to these burgeoning markets bolstered the nascent Class A markets. Primarily, Boston Properties rejuvenation of the parking lot outside TD Garden into a dynamic mixed-use urban playground will firmly anchor North Station, while at Boston Landing in Brighton, New Balance and its partners have quite literally created a new neighborhood as a viable alternative for ultra competitive Cambridge. Firmly rooted in education, technology and life sciences, Boston's diverse economic base has submitted strong job growth through increased recruitment and skilled labor retention from the area’s leading universities and institutions. Looking forward, expect durable market conditions and a diversified economy to guide the region's commercial real estate market to a strong performance over the next several years. 3.6% 4.1% # 2.9% 2ND NOVEMBER NOVEMBER ANNUAL HIGHEST GDP PER MASSACHUSETTS NATIONAL WAGE GROWTH CAPITA NATIONALLY UNEMPLOYMENT UNEMPLOYMENT MARKET CLASS A TRENDS ASKING RATE VS.
    [Show full text]
  • District of Massachusetts CJA Panel List
    District of Massachusetts CJA Panel List Panel(s) Name Address Phone Email Boston Amabile, John A Amabile & Burkly, PC 508-559-6966 [email protected] 380 Pleasant Street Brockton, MA 02301 Worcester Angiulo, Leonardo A. Angiulo Law, PLLC 508-868-0899 [email protected] PO Box 2903 Worcester, MA 01613 Boston Apfel, David J Goodwin Procter LLP 617-570-1970 [email protected] 1000 Northern Avenue Boston, MA 02210 Boston Bailey, R Bradford Brad Bailey Law P.C. 857-991-1945 [email protected] 44 School Street Suite 1000B Boston, MA 02108 Boston Barron, Kevin 50 Congress St 617-407-6837 [email protected] Habeas Sutie 600 Boston, MA 02109 Boston Benzaken, Jason Benzaken, Alexander & Wood, PC 508-897-0001 [email protected] 1342 Belmont Street Suite 102 Brockton, MA 02301 Boston Bernstein, Inga Zalkind Duncan & Bernstein LLP 617-820-5168 [email protected] 65A Atlantic Avenue Boston, MA 02110 Boston Bourbeau, Michael C Bourbeau & Bonilla, LLP 617-350-6565 [email protected] 80 Washington St Building K Norwell, MA 02061 District of Massachusetts CJA Panel List Panel(s) Name Address Phone Email Boston Braceras, Roberto M Goodwin Procter LLP 617-570-1895 [email protected] 1000 Northern Avenue Boston, MA 02210 Boston Budreau, James H Bassil & Budreau 617-276-7385 [email protected] 20 Park Place Suite 1005 Boston, MA 02116 Boston Caramanica, James M. 120 North Main Street 508-222-0096 [email protected] Suite 306 Attelboro, MA 02703 Boston Carney, Jr., J. W. J. W. Carney & Associates
    [Show full text]
  • NYC Newtrends: Coworking
    Research JUNE 2016 NYC NewTrends WeLease: The Growth of Shared Workspace and Its Impact on the New York City Market The growth of coworking is astounding. This real estate niche is changing the way people work and how new companies grow. The number of locations citywide, their total occupancy and the number of new providers have increased by multiples in just six years. This rapid expansion has led to lively debates about the future of coworking in New York City. Coworking as a 1.2% percentage of 767% Manhattan’s total inventory Growth in square footage occupied since 2009 180 Locations in New York City, 6,258% up 86% since 2009 44 Increase in WeWork’s New York City portfolio since opening their New NYC providers first location since 2009 Square for a total of 90,560 Feet 53 today Average size of WeWork’s new locations in 2016, up 186% since 2010-2011 1 Research JUNE 2016 NYC NewTrends The Boom Years of Coworking and Shared Workspace Market Share of Providers Demand for coworking space has been fueled by citywide growth of freelance workers and small businesses—firms with fewer than 20 employees. According to data from the U.S. Census Bureau, employment in this segment of the labor market has grown by Other (44 Virgo providers) 70,999 jobs since 2010, far outpacing the prior market cycle (2002 Business 18% Centers to 2008), when this segment grew by just 12,255 jobs. 2% The Yard In 2009, there were an estimated 25 coworking locations totaling 2% WeWork 698,501 square feet.
    [Show full text]
  • B Oston Inner Harbor
    93 30 Cambridge St Charlestown Msgr. O’Brien Chelsea St Hy Bridge Hampshire St Co Route 3 mm erc ial To Logan St t International 35 S t B s S Airport e 39 l r Broadway e o r v a t o h S n s Commercial Av C a d t Main St r H o on o f d M 31 i ar n Ch n a Longfellow a w ss t Ne a Cambridge St S ch Bridge u n I C se i C o n t h o d 22 t St a u St n s r State A r 16 w t St 7 A l t 29 e e o 33 S 34 l v a r r s B t n e n t v S o 38 i c H i t Harvard Bridge R m S e a s r n 4 2 e Boston T to r rl g 20 b Memorial Drive a Common in 44 o h Berkeley St sh 3 24 r C a 9 36 14 19 N W l o Public 8 10 41 e rth Beacon St er Garden 26 Beach S 37 n n Clarendon St t n A a v Dartmouth17 St 23Arlington St 42 C 25 43 S 15 21 h o 1 6 tuart S n 5 t r C gr 18 e e Commonwealth Av t t Su ss Commonwealth Av s n m S 46 e i m t 45 h e 40 c o r Boylston St r P 28 o Beacon St 90 t 27 D r 11 o Sobin 12 F Park 32 0 1/4 1/2 mi E Berkeley St 93 Boylston St 13 D St Huntington Av Brookline Av Reserved Channel Columbus Av Tremont St Representative Boston Office Landlord Projects 1 10 St.
    [Show full text]
  • 2021 Resolution Plan
    2021 Resolution Plan Public Section July 1, 2021 2 STATE STREET 2021 RESOLUTION PLAN – PUBLIC SECTION Contents 4 1. Introduction and Our Business 12 2. Our Integrated Approach to Resolution Planning 12 2.1 Our Resolution Planning Priorities 14 2.2 Overview of Resolution Planning 22 2.3 Post-Resolution Size and Operational Capabilities 22 2.4 Our Continued Focus on Resolvability 39 2.5 Our Resolution Governance Structure and Risk Management Processes 44 2.6 Actions to Address the Shortcoming on Governance Mechanisms 44 2.7 Targeted Information Request 46 3. Additional Information 46 3.1 Description of Core Lines of Business 50 3.2 Material Entities 67 3.3 Financial Information 74 3.4 Memberships in Material Payment, Clearing and Settlement Systems 76 3.5 Description of Derivative and Hedging Activities 77 3.6 Material Supervisory Authorities 79 3.7 Principal Officers 80 3.8 Description of Material Management Information Systems 80 3.9 Conclusion 81 3.10 Glossary 3 STATE STREET 2021 RESOLUTION PLAN – PUBLIC SECTION 1. INTRODUCTION AND OUR BUSINESS State Street views prudent management and the operation of our business as a core institutional responsibility. We understand the importance of (FDIC) (collectively, the “Agencies”). actively managing risk and being A thoughtfully designed resolution plan prepared to weather unexpected can serve to minimize disruption to US events that could place tremendous and global financial markets, protect stress on our financial well-being. client assets and deposits, and avoid One aspect of our commitment to the need for extraordinary government prudent management is our resolution or taxpayer support.
    [Show full text]