CAMBRIDGE OFFICE & LAB MARKET REPORT
|
|
- Florence Phillips
- 6 years ago
- Views:
Transcription
1 CAMBRIDGE OFFICE & LAB MARKET REPORT SECOND QUARTER 2017
2 WHITE HOT MARKET TO OPEN SUMMER As Greater Boston s global gateway market, Cambridge is a hub for intellectual capital, innovative minds and technological advancements. The Cambridge market has experienced plunging office & lab vacancy rates and rapidly growing rents which make the market one of the world s premier locations. In fact, vacancy rates are becoming difficult to track because available space is quickly absorbed and rarely hits the market before being committed by a new tenant. Demand is largely coming from the expansion of existing tenants, the inward migration from out-of-market users and the explosive growth of the life science industry. The life science sector now constitutes roughly 70% of total demand and has become the most formidable market force, particularly within the lab sector. Looking forward, Cambridge s future remains extremely bright with the high concentration of intellectual and investment capital keeping the market fueled and extreme land constraints placing an upper bound on future development. # 4.2% MAY MASSACHUSETTS UNEMPLOYMENT $ 4.0% JUNE NATIONAL UNEMPLOYMENT # 2.9% ANNUAL WAGE GROWTH 4 th HIGHEST GDP PER CAPITA NATIONALLY
3 MARKET TRENDS BOSTON 10 TH LARGEST METRO Faster population growth than New York & San Francisco $72.00 OFFICE CLASS A - ASKING RATE VS. DIRECT VACANCY Direct Vacancy (%) 24% VACANCY INCHES UP TO 1.6% Strong demand across all submarkets & sectors ASKING RATES RISE AGAIN Demand continued out-pacing supply, modern space rules $66.00 $60.00 $54.00 $48.00 $42.00 $36.00 $ % 18% 15% 12% 9% 6% 3% $ % LIFE SCIENCE SECTION SURGES Now represents over 70% of R&D demand CREATIVE OFFICE Open layouts, contemporary and collaborative environments $55.00 Average Asking Rate Direct Vacancy (%) Direct Vacancy OFFICE CLASS B - ASKING RATE VS. DIRECT VACANCY 16% $ % WHERE IS THE RELIEF? Small and medium size users face historic competition $45.00 $40.00 $ % 10% 8% $ % INVESTMENT SALES ARE HOT New landlords are paying record pricing $25.00 $ % 2% $ % Average Asking Rate Direct Vacancy
4 DIRECT VACANCY RATE BY SUBMARKET West - Office Mid - Lab Mid - Office East - Office East - Lab None West - Lab None 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0%
5 CAMBRIDGE STATS AT A GLANCE VACANCY 1.6% ABSORPTION 26,500 sf SUBLEASE 4.3% AVAILABILITY 8.8% WEST CAMBRIDGE ASKING RATE $65.35/sf CONSTRUCTION 980,000 sf Office $44.88/SF Lab $55.24/SF NNN MID CAMBRIDGE Office $59.69/SF Lab $76.08/SF NNN EAST CAMBRIDGE Office $75.73/SF Lab $75.77/SF NNN
6 CLASS A & B OFFICE
7 With rents in the mid to high $60 s on average and vacancy below 2.0% the Cambridge office market has become prohibitively difficult to enter and maintain a presence. The Kendall Square and Massachusetts Avenue corridor have become saturated with big life science and pharma tenants. On the flip side, many small start-ups and incubators are struggling to maintain Cambridge locations and are frequently pursuing periphery urban technology hubs like Somerville, Watertown and Brighton as lower cost alternatives. The East Cambridge office market recorded a quiet first quarter with several tenants renewing including CSP Associates at 55 Cambridge Parkway for 8,000 SF. There were few significant expansions observed beyond HubSpot who committed to additional square footage at One Canal. The overall lack of availability across East Cambridge has tempered absorption figures over the past months however the market remains extremely strong. In the heart of Central Square at 625 Massachusetts Avenue, Harvard University signed a long term extension for 35,600 square feet. Across the street at 485 Massachusetts Avenue, Digital Ocean committed to 7,000 square feet. Within this stretch of Massachusetts Avenue between MIT and Harvard Square, the tenant base has become increasingly institutional quality which has pushed start-ups and the like west & north. Over the past 36 months, the West Cambridge submarket has dramatically transformed following the addition of new residential, retail and lifestyle amenities along Cambridgepark Drive. Following an extensive marketing and competitive bidding process Morgan Stanley has emerged as the street s largest landlord following the acquisition of 100, 125 & 150 Cambridgepark Drive in two separate transactions. With an average purchase price of $444 PSF the new benchmark has been set for the West Cambridge neighborhood. #1.6% DIRECT VACANCY #4.3% SUBLEASE AVAILABILITY #8.8% TOTAL AVAILABILITY #26,500 SF 12-MONTH ABSORPTION # $65.35/SF AVERAGE ASKING RATE
8 CLASS A & B OFFICE NOTABLE QUARTERLY LEASES ADDRESS SUBMARKET TENANT SF 625 Massachusetts Avenue Mid Cambridge Harvard University 35,600 One Canal Park East Cambridge Hub Spot 25, CambridgePark Drive West Cambridge TriNetX 19, CambridgePark Drive West Cambridge NuoDB 10, Cambridge Parkway East Cambridge CSP Associates 8, Massachusetts Avenue Mid Cambridge Digital Ocean 7,000 AVERAGE ASKING RATE BY SUBMARKET AVERAGE DIRECT VACANCY BY SUBMARKET $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % West Mid East
9 RECENT OFFICE INVESTMENT SALES 125/150 Cambridgepark Drive 100 Cambridgepark Drive 1000 Massachusetts Ave 955 Massachusetts Ave 125/150 Cambridgepark Drive $210,000,000 ($443/RSF) Buyer: Longfellow & Morgan Stanley 100 Cambridgepark Drive $60,200,000 ($445/RSF) Buyer: Longfellow & Morgan Stanley 955 Massachusetts Avenue $66,000,000 ($734/RSF) Buyer: DivcoWest 1000 Massachusetts Avenue $69,500,000 ($644/RSF) Buyer: International RE
10 CLASS A & B LAB
11 The Cambridge lab market has become some of the world s most sought real estate from both tenants and landlords alike. With a barely measurable vacancy rate below 1.0%, market rents and investment sale pricing are pushing historically high. The life science sector now constitutes roughly 70% of total demand with major pharma users driving demand through rapid expansion. Most significantly over the past six months, Johnson & Johnson, AbbVie, Shire, Lilly & Novartis have all either committed to large expansions or been actively engaged in lease negotiations. Following Novartis 302,600 square foot renewal at 100 & 200 Technology Square last quarter, Ironwood Pharmaceuticals renewed its lease at 301 Binney Street securing its 223,000 square foot operation for the long term. It is also widely rumored that Shire Pharmaceuticals, as part of their efforts to consolidate exclusively to Cambridge and Lexington, will take approximately 230,000 square feet at 125 Binney Street. Also in East Cambridge, Blueprint Medicines has leased 100,000 square feet at 45 Sidney Street while co-working lab environment, Lab Central, secured 42,000 square feet at 700 Main Street. The shared working space has become increasingly popular with asking rates soaring and start ups finding it difficult to secure space within Kendall Square. Looking forward expect the market to continue performing at an efficient clip, however with several new lab developments scheduled to open over the next 3-5 years, rent growth will be less explosive because the increased supply will offset demand. Development projects to recently break ground include: Alexandria s new 170,000 SF life science building at 399 Binney Street, the Davis Companies 220,000 square foot redevelopment of 35 Cambridgepark Drive and Northpoint s 250 North Street which is currently slated as a 430,000 square foot versatile office & lab building. # 0.7% DIRECT VACANCY $ 2.3% SUBLEASE AVAILABILITY $ 4.8% TOTAL AVAILABILITY $ (65,000) SF 12-MONTH ABSORPTION # $74.90/SF AVERAGE ASKING RATE
12 CLASS A & B LAB NOTABLE QUARTERLY LEASES ADDRESS SUBMARKET TENANT SF 100 & 200 Technology East Cambridge Novartis 302, Binney Street East Cambridge Ironwood Pharmaceuticals 223, Sidney Street East Cambridge Blueprint Medicines 100, Landsdowne Street East Cambridge Takeda Pharmaceuticals 100, Main Street East Cambridge Lab Central 42, CambridgePark Drive West Cambridge Celgene 39,100 AVERAGE ASKING RATE BY SUBMARKET AVERAGE DIRECT VACANCY BY SUBMARKET $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % $ % West Mid East
13 RECENT LAB INVESTMENT SALES 733 Concord Avenue One Kendall Square 19 Blackstone Street 245 First Street One Kendall Square $750,000,000 ($1,125/RSF) Buyer: Alexandria RE 245 First Street $311,250,000 ($1,020/RSF) Buyer: Clarion Partners 19 Blackstone Street $56,000,000 ($718/RSF) Recap: Brickman & Investcorp 733 Concord Avenue $29,146,4980 ($662/RSF) Recap: King Street & Morgan Stanley
14 OFFICE & LAB REPORT STATS CONFIDENTIAL
15 Office Total Inventory (SF) Direct Vacancy Sublease Availability Total Availability Quarterly Absorption (SF) 12 Month Absorption (SF) Average Asking Rate TOTAL A & B Cambridge 10,809, % 4.3% 8.8% (8,750) 26,450 $65.35 East Cambridge 5,668, % 3.1% 7.5% 16,850 26,100 $75.73 Mid Cambridge 3,135, % 1.8% 5.2% ,250 $59.69 West Cambridge 2,005, % 11.4% 17.9% (26,200) (23,850) $44.88 CLASS A Cambridge 6,977, % 5.7% 10.7% (30,250) (39,200) $70.99 East Cambridge 4,649, % 3.8% 7.1% 8,600 23,950 $77.03 Mid Cambridge 1,224, % 2.0% 9.6% (13,700) (30,500) $68.25 West Cambridge 1,103, % 18.2% 27.4% (25,150) (32,650) $48.56 CLASS B Cambridge 3,832, % 1.6% 5.1% 21,500 65,650 $55.10 East Cambridge 1,018, % 0.0% 9.3% 8,200 2,100 $69.81 Mid Cambridge 1,911, % 1.7% 2.4% 14,350 54,750 $54.20 West Cambridge 902, % 3.1% 6.3% (1,050) 8,750 $40.38 Lab Total Inventory (SF) Direct Vacancy Sublease Availability Total Availability Quarterly Absorption (SF) 12 Month Absorption (SF) Average Asking Rate TOTAL A & B Cambridge 14,109, % 2.3% 4.8% (21,500) (65,600) $74.90 East Cambridge 9,107, % 1.4% 2.5% 2,900 4,150 $75.77 Mid Cambridge 4,336, % 4.5% 9.3% (24,350) (69,700) $76.08 West Cambridge 665, % 0.0% 6.2% - - $55.24 CLASS A Cambridge 11,621, % 2.7% 4.5% 2,900 4,150 $76.32 East Cambridge 8,452, % 1.5% 2.7% 2,900 4,150 $75.81 Mid Cambridge 3,039, % 6.0% 9.6% - - $78.25 West Cambridge 129, % 0.0% 0.0% - - $64.00 CLASS B Cambridge 2,488, % 0.5% 6.2% (24,400) (69,700) $68.27 East Cambridge 654, % 0.0% 0.0% - - $75.25 Mid Cambridge 1,297, % 0.9% 8.6% (24,400) (69,700) $71.00 West Cambridge 535, % 0.0% 7.7% - - $53.13
16 ETHAN ROBERT Director of Research O: Lincoln Property Company 53 State Street, 8th Floor, Boston, MA LPCBoston.com Lincoln Property Company s Boston Office Report is produced by the Boston Office s research team in collaboration with our Urban Brokerage Group. If you have any questions regarding market conditions and the information found in this report, please contact Ethan Robert.
CAMBRIDGE OFFICE & LAB MARKET REPORT
CAMBRIDGE OFFICE & LAB MARKET REPORT SECOND QUARTER 2018 LANDLORD FAVORABLE MARKET CONDITIONS As Greater Boston s preeminent technology and innovation market, Cambridge has become a must have address for
More informationCAMBRIDGE OFFICE & LAB MARKET REPORT
CAMBRIDGE OFFICE & LAB MARKET REPORT FIRST QUARTER 2018 MUST HAVE LOCATION & INNOVATION HUB As Greater Boston s gateway market, Cambridge is a magnet for intellectual capital, innovative minds and technological
More informationLife Sciences Outlook
Greater Toronto 2018 JLL Research Report Life Sciences Outlook Breakthrough discoveries at a breathtaking pace 2 Greater Toronto The Greater Toronto area is home to Canada s largest combined life sciences
More informationLife Sciences. An evolving industry: Today s clusters creating tomorrow s breakthroughs. Denver JLL Research
Life Sciences Denver 017 An evolving industry: Today s clusters creating tomorrow s breakthroughs JLL Research Denver With college graduates at 41.3 percent and high school graduates at 90.5 percent, Colorado
More informationSILICON VALLEY COMMERICAL SPACE
Quarterly Report SILICON VALLEY COMMERICAL SPACE 2017 SILICON VALLEY INSTITUTE for REGIONAL STUDIES This report is released on a quarterly basis by the Silicon Valley Institute for Regional Studies, in
More informationLife Sciences Outlook
United States 2018 JLL Research Report Life Sciences Outlook Breakthrough discoveries at a breathtaking pace What s inside? 3 Cluster rankings 4 The U.S. life sciences landscape in 2018 6 Trend 1 Creating
More informationRiNo Park Buildings Business Case Analysis. July 10, 2017
RiNo Park Buildings Business Case Analysis July 10, 2017 1 Purpose and Goal The public indicated a strong desire to keep and reuse RiNo Park buildings during the park planning process. The City of Denver
More information2017 PHOENIX INDUSTRIAL REPORT. Building. Lincoln Logistics 40 Ownership. LPC / GS Construction Start.. November 2017 Construction End.
Q 4 2017 PHOENIX INDUSTRIAL REPORT Building. Lincoln Logistics 40 Ownership. LPC / GS Construction Start.. November 2017 Construction End.August 2018 T he Industrial Sector has been one of the top performing
More informationDEMONSTRATION PROJECT PLAN UPDATE. AGENDA 1. New Path Forward 2. From Vision to Conceptual Program 3. Design and Cost Studies 4.
1 DEMONSTRATION PROJECT PLAN UPDATE AGENDA 1. New Path Forward 2. From Vision to Conceptual Program 3. Design and Cost Studies 4. Next Steps 2 NEW PATH FORWARD To achieve the building vision and more effectively
More informationREAL ESTATE, HOUSING, AND ECONOMIC DEVELOPMENT DRAFT 5 YEAR ACTION PLAN BOARD BRIEFING
REAL ESTATE, HOUSING, AND ECONOMIC DEVELOPMENT DRAFT 5 YEAR ACTION PLAN BOARD BRIEFING BACKGROUND 2 BACKGROUND Strategic Implementation Plan Approved 2013 Focused on work plan for transit, parks, trails,
More informationLife Sciences Cluster Report Global. 2012
Life Sciences Cluster Report Global. 2012 Portfolio optimization and strategic site selection are crucial for success in the industry s new reality In the new reality for life sciences companies one where
More information2125 O NEL DRIVE HIGHWAY 101 IDENTITY 100% LEASED WITH NEAR TERM UPSIDE SAN JOSE, CA NORTH FIRST STREET 104,657 SF OFFICE/R&D BUILDING
NORTH FIRST STREET 104,657 SF OFFICE/R&D BUILDING HIGHWAY 101 IDENTITY 100% LEASED WITH NEAR TERM UPSIDE 2125 O NEL SAN JOSE, CA EXECUTIVE SUMMARY This offering provides the exceptional opportunity to
More informationPortland Economic Opportunities Analysis October 2012
Portland Economic Opportunities Analysis October 2012 The EOA is an analysis of the long term supply and demand for employment land. It consists of four sections: 1. Trends, Opportunities & Market Factors
More informationKendall Corridor Development Miami, Florida
Kendall Corridor Development Miami, Florida Kendall Corridor Development Summary At the heart of Miami Dade County s residential expansion zone, this ambitious project is divided into two phases. The North
More informationBuilding Effective Startup Ecosystems. Presented by: Tim Rowe February 16, 2017
Building Effective Startup Ecosystems Presented by: Tim Rowe February 16, 2017 WHAT IS INNOVATION, REALLY? Not innovation: water bicycle Never employed by society Real innovation: hybrid electric engine
More informationDeveloping the Pulse Corridor
Developing the Pulse Corridor Creating TOD that s effective and equitable Christopher Leinberger Professor George Washington University School of Business Partner, Arcadia Land Company Christopher Zimmerman
More informationCITY OF PROVIDENCE: ECONOMIC CLUSTER STRATEGY. Presentation to City Council Final Analysis November 18 th, 2015
CITY OF PROVIDENCE: ECONOMIC CLUSTER STRATEGY Presentation to City Council Final Analysis November 18 th, 2015 CONTENTS I. Goals and Preview II. III. IV. Economic Foundation Clusters and Actions Recommendations
More informationENDING FAMILY HOMELESSNESS IN THE SAN FRANCISCO UNIFIED SCHOOL DISTRICT. Business Plan
ENDING FAMILY HOMELESSNESS IN THE SAN FRANCISCO UNIFIED SCHOOL DISTRICT Business Plan Overview The Heading Home Campaign will rapidly re-house at least 800 homeless families with children in the San Francisco
More informationSAN FRANCISCO HOUSING AUTHORITY
HABD MISSION AND GUIDING PRINCIPLES SAN FRANCISCO HOUSING AUTHORITY 2011 2016 Strategic Plan MESSAGE FROM THE EXECUTIVE DIRECTOR Henry A. Alvarez III Executive Director PLACE HOLDER NEED INFORMATION FROM
More informationSFY 2017 Neighborhood Development Center Small Business Programs Direct Appropriation
SFY 2017 Neighborhood Development Center Small Business Programs Direct Appropriation Report to the Legislature as required by 2016 Minnesota Session Laws, Chapter 189, H.F. 2749, Article 12, Section 11,
More informationOffering Memorandum REDMOND DEVELOPMENT SITE th Ave NE Redmond, WA. Exclusively offered by Paragon Real Estate Advisors
Offering Memorandum REDMOND DEVELOPMENT SITE 8921 166th Ave NE Redmond, WA Exclusively offered by Paragon Real Estate Advisors 1 Offering Summary The Redmond Townhouse Development Site is a rare developable
More informationThe 2017 Lagos Office Market in 5 Charts
The 2017 Lagos Office Market in 5 Charts estateintel.com With the lowest building completions in 3 years, 2017 provided an opportunity for the market to try to absorb the disruptive amount of space that
More informationBeyond Housing in TOD Vision
Beyond Housing in TOD Vision Philadelphia, PA October 18, 2013 Placeholder, presenter logo DELETE if not needed. Presenters Moderator: Robin Hacke, Living Cities Panelists: Jennifer Standiford, Low Income
More informationREQUEST FOR PROPOSALS Operation: Storefront
REQUEST FOR PROPOSALS Operation: Storefront Date Posted: September 24, 2010 Proposals Due: November 22, 2010 I. Opportunity Summary Downtown Partnership of Baltimore, Inc. (DPOB) seeks proposals from individual
More informationPlanning Ahead for Growth in Massachusetts
Planning Ahead for Growth in Massachusetts 4 9 5 / M E T R O W E S T P A R T N E R S H I P A N N U A L M E E T I N G P R E S E N T A T I O N J U N E 1, 2 0 1 2 The Commonwealth s Economic Development Plan
More informationREQUEST FOR PROPOSALS (RFP): COMMERCIAL LEASE BROKER
A. Introduction and Purpose REQUEST FOR PROPOSALS (RFP): COMMERCIAL LEASE BROKER The Public Health Institute (PHI) is a global leader in public health, dedicated to promoting health, wellbeing, and quality
More informationTimothy Chen Director Research East China
thousand sq m Timothy Chen Director Research East China timothy.chen@colliers.com Building a global science and innovation centre is an important strategic mission for Shanghai. Colliers' analysis of business
More information44 New NYC providers since 2009 for a total of 53 today 767% 6,258% Increase in WeWork s New York City portfolio since opening their first location
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.
More informationThe SoNo Collection Norwalk, CT
The SoNo Collection Norwalk, CT Norwalk Common Council 04.17.17 Planning Committee Table of Contents 1 Project Site 2 Requested Approvals 3 Updated Conceptual Renderings 4 Economic Impacts 1 Project Site
More informationECONOMIC DEVELOPMENT INCENTIVE AND INVESTMENT POLICY
ECONOMIC DEVELOPMENT INCENTIVE AND INVESTMENT POLICY Introduction On October 19, 2010, the Peoria City Council approved an Economic Development Implementation Strategy ( EDIS ) which provides an implementation-based
More informationCoworking Sector. Overview
Coworking Sector in Tokyo Expands July 218 JLL Research Overview The coworking sector, or community-oriented office space, in Tokyo has been rapidly expanding in 218. During the first half of 218, total
More informationGreater Philadelphia Office, Q Suburbs Continue to Perform, Solid Fundamentals in CBD
Greater Philadelphia Office, 217 Suburbs Continue to Perform, Solid Fundamentals in CBD 243,662 sq. ft. 14.74% $25.51 2.85 Million sq. ft. Figure 1: Philadelphia CBD Office Rent vs. Direct Vacancy *Arrows
More informationCLEVELAND INDUSTRIAL MARKET
RESEARCH 2Q 2018 CLEVELAND INDUSTRIAL MARKET INDUSTRIAL MARKET REMAINS STEADY AS CONSTRUCTION HITS AN ALL-TIME HIGH Despite an overall negative tenancy return, the Greater Cleveland industrial market continued
More informationMENDHAM VILLAGE SHOPPING CENTER. 86 East Main Street Mendham, NJ
MENDHAM VILLAGE SHOPPING CENTER 86 East Main Street Mendham, NJ MENDHAM VILLAGE SHOPPING CENTER 86 East Main Street Mendham, NJ Space Available 1,280 sf 1,280 sf 1,280 sf - former coffee GLA 133,854 sf
More informationABERDEEN CITY REGION DEAL:
ABERDEEN CITY REGION DEAL: Powering Tomorrow s World #ABZdeal Introduction The Aberdeen City Region Deal provides what is possibly the best opportunity in the UK to build further growth into an already
More informationEmily Berwyn (real estate professional and entrepreneur)
IN THE MEANWHILE Emily Berwyn (real estate professional and entrepreneur) STARTING MEANWHILE SPACE In 2009, the recession was beginning to hit hard in the UK; businesses were going under, developments
More informationTransmittal Letter. Via Hand Delivery. January 10, 2011
Transmittal Letter Via Hand Delivery January 10, 2011 Kathleen Diohep Project Manager Port of San Francisco Pier 1, The Embarcadero San Francisco, CA 94111 Re: Request for Developer Qualifications Pier
More informationIMPA 2 CT REPORT 017
IMPACT REPORT 2017 2017 78 Companies Served Since 2014 37 Alumni Companies by Year s End $2,015,429,000 in Funding Raised Since 2014 $760,215,000 in 2017 Funding Raised 63 Net Promoter Score BY THE NUMBERS
More informationResearch. The Growing Influence of Technology in Austin AUSTIN 2Q16 OFFICE MARKET. Current Conditions
The Growing Influence of Technology in Demand for office space in technology-centric markets is robust, vacancies are low and rents are rapidly climbing. The computer, semiconductor and electrical component
More informationWorkbar NextSpace Impact Hub Serendipity Labs State Street Bank
Case Profiles The following profiles of U.S. coworking facilities demonstrate the concept s flexibility and range of applications, which vary depending upon the target users. Workbar in Boston and Cambridge,
More informationNW ORLANDO INDUSTRIAL 45 ACRES
NW ORLANDO INDUSTRIAL 45 ACRES OFFERING MEMORANDUM Presented by: Trevor Hall, Jr. Director, Land Services Colliers International Dustin Bowersett Associate, Land Services Colliers International Richard
More informationInnovative and Vital Business City
Innovative and Vital Business City An Innovative City means promoting Melbourne as a smart, creative and progressive city. Innovation is critical to the continued development and prosperity of the City.
More informationNassau Hub Innovation District: Transforming the Nassau Hub Biotech Park into a Competitive, 21 st Century Innovation District.
Nassau Hub Innovation District: Transforming the Nassau Hub Biotech Park into a Competitive, 21 st Century Innovation District August 2017 Executive Summary The redevelopment of the Nassau Coliseum is
More informationFitchburg Development Assistance Guide. A guide to technical support and incentives for business and housing development in Fitchburg.
Fitchburg Development Assistance Guide A guide to technical support and incentives for business and housing development in Fitchburg. Foreward Fitchburg is Open for Business! In my role as Mayor, it pleases
More informationBusiness Incubation Case Study
Business Incubation Case Study Preview 1. Intro to Business Incubation A. General B. Northwest Regional Planning Commission 2. Virtual Incubation 3. Physical Business Incubation 4. Building Your Own Incubator
More informationPune records lowest Q residential sales since 2010; office market at historical low with vacancy levels at 8.2%: Knight Frank India
Pune records lowest Q4 2016 residential sales since 2010; office market at historical low with vacancy levels at 8.2%: Knight Frank India Pune, January 11 th, 2017: Knight Frank India today launched the
More informationCommunity Meeting: Campus Land Use & Square 54 Discussion May 4, 2005
Community Meeting: Campus Land Use & Square 54 Discussion May 4, 2005 1 Overview of Presentation Goals To understand. How GW plans to accommodate its forecasted housing and academic space needs within
More informationMassDOT Air Rights Parcels Citizens Advisory Committee Questions for Proponents
MassDOT Air Rights Parcels 12-15 Citizens Advisory Committee Questions for Proponents Trinity Financial, Inc. responses for Parcels 12 and 13 (responses in bold) 1. What stage are you at in the development
More informationflexible space revolution.
Bracing flexible for the space revolution. Flexible space Flexible Space United States 2017 < 2 > An introduction to: JLL forecasts a dramatic shift in the office market, as tenant demand for more flexible
More informationBarcelona Offices MARKET INDICATORS. October 2017 MARKET SUMMARY. Occupancy. Investment. OFFICE STOCK: 5,880,000 sqm
marketbeat Barcelona Offices MARKET SUMMARY Take-up of office floorspace reached 56,700 sqm in the third quarter, representing a quarterly fall of 56%. Nevertheless, the aggregate take-up for 2017 shows
More informationWorkbar NextSpace Impact Hub Serendipity Labs State Street Bank
Case Profiles The following profiles of U.S. coworking facilities demonstrate the concept s flexibility and range of applications, which vary depending upon the target users. Workbar in Boston and Cambridge,
More informationVirginia Department of Planning and Budget Project Request Justification
DPB Form CNJ June 2005 Virginia Department of Planning and Budget Project Request Justification 2006-2008 Biennium Date: July 22, 2005 A. General Information 1. Agency name: Virginia Tech 2. Agency code:
More informationPremium Office & Retail Units FOR SALE OR LEASE
Premium Office & Retail Units FOR SALE OR LEASE A New Way to INNOVATE City Centre 3 (CC3) at 9620 137A Street is the newest development project located in Surrey City Centre s Health & Technology District.
More informationScaling innovation for impact
Re: ED12.2 Scaling innovation for impact Karen Greve Young, VP Partnerships kgreveyoung@marsdd.com MAY 2016 Visit us at marsdd.com Toronto Canada s Global Innovation City 6 million people in GTA 4 th largest
More informationSan Jacinto Economic Development Program January 3, 2008
San Jacinto Economic Development Program January 3, 2008 SAN JACINTO ECONOMIC DEVELOPMENT PROGRAM I. Introduction II. Economic Development Program III. Budget IV. Flowchart V. Schedule A. Background I.
More informationI want good chefs, good beer, and entrepreneurs Jonathan Bush, CEO, athenahealth
One Broadway, 14th FL, Cambridge, MA 02142 1 Little West 12th Street, New York, NY 10014 info@graffitosp.com www.graffitosp.com I want good chefs, good beer, and entrepreneurs Jonathan Bush, CEO, athenahealth
More informationBoise Gateway. Industrial Park OFFERED FOR LEASE BTS. tokcommercial.com
OFFERED FOR LEASE BTS Eisenman road & freight street boise 83702 Boise Gateway Industrial Park Devin Pierce, SIOR 208.947.0850 Dan Minnaert, SIOR, CCIM 208.947.0845 Chris Baird 208.947.5508 A New Development
More informationNeighborhood Plus (NH+) Work Plan Council Housing Committee Briefing January 4, 2016
Neighborhood Plus (NH+) Work Plan 2015-16 Council Housing Committee Briefing Council Housing January Committee 4, 2016 Briefing January 4, 2016 Purpose of the Briefing Discuss the approach to NH+ implementation
More informationEast Harlem Commercial Opportunity RFP
East Harlem Commercial Opportunity RFP Site Description 2321-2325 3rd Avenue (MN Block 1791 Lot 46) Convenient access via subway, Metro North, bus, and highway Located in a fast growing neighborhood Component
More informationTHE PENINSULA ECONOMY
Economic Update THE PENINSULA ECONOMY July 2017 SILICON VALLEY INSTITUTE for REGIONAL STUDIES Prepared by Stephen Levy This publication is one in a series of periodic updates on the local economy published
More informationAugust 2018 COWORKING AND FLEXIBLE OFFICE SPACE. Additive or Disruptive to the Office Market? Coworking and Flexible Office Space
August 2018 COWORKING AND FLEXIBLE OFFICE SPACE Additive or Disruptive to the Office Market? Coworking and Flexible Office Space 1 COWORKING Additive or Disruptive? A growing and influential sector, coworking
More informationMr. George McNabb, Principal Paragon Real Estate 1400 Van Ness Avenue San Francisco, CA January 23, 2015
95 Brady Street San Francisco, CA 94103 415 541 9001 info@sfhac.org www.sfhac.org Mr. George McNabb, Principal Paragon Real Estate 1400 Van Ness Avenue San Francisco, CA 94109 Ref: 1700 Market Street Mixed-Use
More informationJob Creation Bonus (JCB) Program Guidelines & Application. City of Titusville Downtown Community Redevelopment Agency
Job Creation Bonus (JCB) Program Guidelines & Application City of Titusville Downtown Community Redevelopment Agency Adopted March 13, 2012 Introduction Job Creation Bonus (JCB) Program A Job Creation
More informationNew Regional Distribution Center Development
New Regional Distribution Center Development SCHODACK, NEW YORK Tyler Culberson Office 518 465 1400 ext. 228 TCulberson@naiplatform.com Daniel Slote Office 518 465 1400 ext. 213 DSlote@naiplatform.com
More informationTightest Vacancy in Texas; YTD Demand Nears 1.0 Million SF
MARKETVIEW Austin Office, Q2 2015 Tightest Vacancy in Texas; YTD Demand Nears 1.0 Million SF Vacancy Rate 11.9 % Avg. Asking Rate 31.33 $/SF Net Absorption 489,183 SF Completions 869,280 SF *Arrows indicate
More informationFOR SALE BURIEN RETAIL PROPERTY
FOR SALE BURIEN RETAIL PROPERTY 225 SW 152ND STREET, BURIEN, WA 98166 CONTACT INFORMATION: ELLEN MOHL SENIOR BROKER 206.505.9421 ellenmohl@westlakeassociates.com EXECUTIVE SUMMARY INVESTMENT SUMMARY OFFERING
More informationAT CORTEX FOUNDRY OFFICES
AT CORTEX FOUNDRY OFFICES Creating the Workplace of the Future More and more, corporate America is seeking unique, diverse and dynamic work environments in order to attract and inspire the workforce of
More informationREQUEST FOR PROPOSAL MARKETING PLAN FOR THE ROXBURY CULTURAL DISTRICT ISSUED: 11/29/2017 DEADLINE: 12/29/2017
REQUEST FOR PROPOSAL MARKETING PLAN FOR THE ROXBURY CULTURAL DISTRICT ISSUED: 11/29/2017 DEADLINE: 12/29/2017 The Roxbury Cultural District (RCD) is now accepting proposals from marketing, branding, and
More informationGLOBAL BUSINESS NETWORK WTCA HANDBOOK
A GLOBAL BUSINESS NETWORK WTCA HANDBOOK CONNECTS NEW YORK, CHICAGO, TOKYO, BEIJING, FRANKFURT, LONDON, DUBAI, HONG KONG, MOSCOW, MUMBAI AND 308 OTHER CITIES GIVES IN-DEPTH TRADE INFORMATION, EDUCATION
More informationThe Loop Media Hub. Gigabit Economic Development Impact Statement. Prepared for: The Loop Media Hub Feasability Study. June 27, 2012.
Sandel & Associates The Loop Media Hub Gigabit Economic Development Impact Statement Prepared for: The Loop Media Hub Feasability Study June 27, 2012 Prepared by: Special Advisor Pat McKeehan 6900 Delmar
More informationObjective 1. Research current housing issues in Avon to gain a deeper understanding of the housing market Type: Program Priority: 1 Cost: Medium
Overall Comprehensive Plan Goals: Encourage growth in more suitable areas within town boundaries. These areas include sites close to existing residential, commercial, or industrial areas that are already
More informationRequest for Proposals (RFP) Commercial Space Leasing City Lights, Winooski VT
Request for Proposals (RFP) Commercial Space Leasing City Lights, Winooski VT RFP 463 square foot commercial/retail space available in downtown Winooski. Over 20,000+/- cars per day pass by this space
More information168 th Street Redevelopment RFP. Information Session March 12, 2015
168 th Street Redevelopment RFP Information Session March 12, 2015 Agenda Introduction Project Overview Project Goals Site Description Jamaica Context & District Proposal Elements Economic and Workforce
More informationRequest for Proposals
Request for Proposals Big Bethel AME Church Campus Development Strategy October 21, 2013 Big Bethel AME Church 220 Auburn Avenue NE Atlanta, Georgia 30303 Introduction Big Bethel AME Church and Bethel
More informationSAN FRANCISCO NONPROFIT SPACE STABLIZATION PROGRAM FINANCIAL ASSISTANCE PROGRAM GUIDELINES February 2017
The Northern California Community Loan Fund (NCCLF) announces the availability of technical and financial assistance to stabilize the real estate of San Francisco nonprofits. Applications must be received
More informationINSTITUTIONAL MASTER PLAN NOTIFICATION FORM / NOTICE OF PROJECT CHANGE
HARVARD university INSTITUTIONAL MASTER PLAN NOTIFICATION FORM / NOTICE OF PROJECT CHANGE For the Third Amendment to the 2013 Institutional Master Plan for Harvard University s Campus in Allston Science
More informationLIVE MUSIC RETAIL EST atlanta dairies CREATIVE OFFICE RESTAURANTS 777 MEMORIAL DR.
LIVE MUSIC IN THE HEART OF REYNOLDSTOWN RETAIL EST. 2017 atlanta dairies RESTAURANTS 777 MEMORIAL DR. CREATIVE OFFICE 777 MEMORIAL DR. about REYNOLDSTOWN 95,000 SQUARE FEET Located just off the Beltline,
More informationHHS Federal Government Grant Proposal
HHS Federal Government Grant Proposal Scroll down to read the first part of this sample. When purchased, the complete sample is 84 pages long and is written using these Proposal Pack chapters: Cover Letter,
More informationNew York University Campus Plan for Designation of Tax- Free NY Area
New York University Campus Plan for Designation of Tax- Free NY Area 1. Campus Name: New York University Contact Person: Jennifer Pautz Address: 25 West 4 th Street, 5 th Floor New York, NY 10012 2. Identification
More informationABOUT THE REPORT. About the 3-Month Report
THE DIGEST OF BIOTECH JOB TRENDS IN MASSACHUSET TS QUARTERLY LIFE SCIENCES JOB MARKET REPORT (Abbreviated) Q2 2018 ABOUT THE REPORT About the 3-Month Report MassBioEd produces a Quarterly on biopharmaceutical
More informationA. Executive Summary...3. B. Initiatives and Status at a Glance...4
Quarterly Progress Report on Corporate Strategic Initiatives January to March 2011 Table of Contents A. Executive Summary...3 B. Initiatives and at a Glance...4 C. Initiative Summaries...5 1. Respond to
More informationRound Table Discussion: Shared Views and Perspectives on Outsourcing
Round Table Discussion: Shared Views and Perspectives on Outsourcing IQ Drug Metabolism Leadership Group Pharmaceutical Industry Benchmarking CPSA Shanghai, April 17th, 2018 www.iqconsortium.org IQ: Collaboration
More informationBoston's Economy 2018
Boston's Economy 2018 The Boston Planning & Development Agency We strive to understand the current environment of the city to produce quality research and targeted information that will inform and benefit
More informationNew York Life Sciences Initiative
New York Life Sciences Initiative Initiative Real Estate - Underway JLABS Jan-17 30,000 SF incubator that will provide pre-built office and wet lab space for ~30 early stage life sciences companies, as
More informationWhat Happened to the Brownfields Tax Incentive? Webinar April 11, 2013
What Happened to the Brownfields Tax Incentive? Webinar April 11, 2013 1 Empowering localities to revitalize their communities through the exchange of strategies, tools, and best practices for brownfields
More informationSummary Observations. ParqueSoft Centers
As in the other incubators examined, branding plays a key role. The Octantis name provides credibility and opens doors for the tenants. More than interviewed client suggested that the instant credibility
More informationThe Rise of Coworking
Thought Leadership Series The Rise of Coworking Corporate tenants are working differently, presenting new opportunities and questions for owners. Issues addressed in this edition of the Yardi Thought Leadership
More informationTrends in Commercial Leasing Co-Working and Office Sharing Arrangements. Pam Swidler, Esq., Associate General Counsel for Real Estate 4.28.
Trends in Commercial Leasing Co-Working and Office Sharing Arrangements Pam Swidler, Esq., Associate General Counsel for Real Estate 4.28.17 Office Leases for Shared or Co-Working Spaces Here s what we
More informationREQUEST FOR PROPOSALS CITY OF TAMPA Downtown Tampa Community Redevelopment Area
ALL INTERESTED PARTIES: REQUEST FOR PROPOSALS CITY OF TAMPA Downtown Tampa Community Redevelopment Area The City of Tampa and the Community Redevelopment Agency of the City of Tampa, (collectively the
More informationDenver International Airport Request for Qualifications (RFQ) Gate Holdroom Concession Services Concourse C West Expansion
Denver International Airport Request for Qualifications (RFQ) Gate Holdroom Concession Services Concourse C West Expansion I. OVERVIEW / SCOPE OF WORK A. DESCRIPTION The City and County of Denver ( CCD
More informationRetail & Restaurant Incentive Program GUIDELINES
Amended April 19, 2016 Retail & Restaurant Incentive Program GUIDELINES The Program The purpose of this program is to serve as a catalyst for securing new retail, restaurant and service concepts to fill
More informationA NEW CENTER OF GRAVITY Revolutionizing Durham s Innovation Ecosystem
A NEW CENTER OF GRAVITY Revolutionizing Durham s Innovation Ecosystem The Chesterfield is a 286,000 square foot adaptive re-use historic building in downtown Durham that will be a new center of gravity
More informationFLOOR AND. 111 Mulberry Street Market. Street Suite
Request for Proposals GROUND FLOOR MANAGEMENT, OPERATION, AND PROGRAMMING, 5055 CLINTON AVENUE NEWARK Community Economic Development Corporation 111 Mulberry Street Market Street Suite LL Newark, NJ 07102
More informationREVIEW OF THE IMPACT OF INCREASING RENTS IN SAN FRANCISCO ON LOCAL NONPROFIT ORGANIZATIONS Policy Analysis Report to Supervisor Kim
REVIEW OF THE IMPACT OF INCREASING RENTS IN SAN FRANCISCO ON LOCAL NONPROFIT ORGANIZATIONS Policy Analysis Report to Supervisor Kim Presentation to: BUDGET AND FINANCE COMMITTEE BOARD OF SUPERVISORS CITY
More informationColumbus-Franklin County Finance Authority Projects Financed
Jean Carter Ryan, President 350 E. First Avenue ~ Suite 120 Columbus, Ohio 43201 614.429.0177 Telephone JRyan@columbusfinance.org www.columbusfinance.org Columbus-Franklin County Finance Authority Projects
More informationSAN FRANCISCO NONPROFIT SPACE STABLIZATION PROGRAM FINANCIAL ASSISTANCE PROGRAM GUIDELINES Amended January 2018
The Northern California Community Loan Fund (NCCLF) announces the availability of technical and financial assistance to stabilize the real estate of San Francisco nonprofits. Applications must be received
More informationPreserving Local Retail: Issues & Strategies Presentation for the APA Metro Chapter Zoning Committee
Preserving Local Retail: Issues & Strategies Presentation for the Vicki Weiner, Director of Planning & Preservation Pratt Center for Community Development How communities perceive the problem Aesthetic
More informationSummer 2017 CBRE TECH SERIES AUSTIN REAL ESTATE TRENDS
Summer 2017 CBRE TECH SERIES AUSTIN REAL ESTATE TRENDS Scott Senese Sr. Managing Director WELCOME Tech and Austin go hand in hand, so we are pleased to release the Summer 2017 Austin edition in CBRE s
More informationCity of Delray Beach New Rules for Economic Development FCCMA Annual Conference
City of Delray Beach New Rules for Economic Development FCCMA Annual Conference Presentation by Paul Dorling, AICP, Planning & Zoning Director Richard J. Reade, Sustainability Officer/Public Information
More informationFinancing Strategies to Encourage Transit Oriented Development Rail~Volution 2009
Financing Strategies to Encourage Transit Oriented Development Rail~Volution 2009 October 31, 2009 1 Six considerations for successful funding of transit oriented development. 1.Transit alone cannot create
More information