Boston Commercial Real Estate and Retail SceneSeptember 14, 2013
There have been many exciting commercial and retail announcements that will definitely have an impact on Boston luxury real estate. Among the recent news is Price Water House Coopers' 15-year lease of 330,000 square feet in the 17 story building at Seaport Square. They will be the major anchor tenant for the 440,000 square foot building by Skanka and ready for occupancy in 2015. The building will have retail and dining amenities as well as spectacular Boston luxury homes.
Pop-Up Boston Luxury Real Estate
Adding to their portfolio with yet another acquisition by the Investment firm Urban Meritage, in partnership with Novaya Ventures and L&B Realty, they have purchased #8 Newbury Street for $15.2M. This building is the pulse of Boston luxury real state, including the commercial and retail sectors. The first block of Newbury Street at the Public Garden is prime Back Bay location. There’s also a new development on the same block, #6 Newbury, with Boston luxury homes and housing luxury homes and upscale retail due to open in 2014.
Another interesting concept being introduced to the Boston real estate market is the “Pop-Up” shops. These are a commercial/retail version of AirBNB, a successful California based startup company that helps retailers looking for short term, unused retail space. It’s a win-win situation for both short term retailers selling some inventory quickly and for commercial real estate owners who have been plagued across the country by unrentable space.
Interested in new construction properties in Boston? Contact me to find out your options.