Blog :: 06-2018
According to a 2017 Gallup poll, 43% of Americans in 2016 worked from home in some capacity. This number had increased from previous years and is steadily rising. Many developers are taking this into consideration when planning projects and are catering to this popular and growing concept.
Park Lane Apartments in Boston’s Seaport anticipated this as the first apartment building in a new neighborhood. They offer a conference room, club room with billiards, and a 24-hour gym. The newer, Waterside Apartments in Seaport has extended work space in the business center with a Wi-fi connected cafe and a 24-hour fitness center, among many other perks.
How you "work from home" depends upon how you like to work. Some may prefer to be in a luxury building that offers many of these types of amenities, so that while you are "trapped" at home/work, you can sneak in a quick workout at your building's gym or spread out in the business center.
For those who want to search for a private in-home office, the best bet is to look at homes offering a private den or small second (or third or fourth) bedroom. Click here to search for two bedrooms for sale under $1 million to help get started.
There are lots of options in and around Boston. Our team is here to help do a lot of the legwork to help hone in on the properties that would be the best fit for what you're looking for. Feel free to contact us and let us show you how we can help you find your next home (and office)!
Shelagh Brennan sold her client unit 7G at Lovejoy Wharf.
Companies continue to look for opportunities to move and expand into Boston. Here are some highlights on the current office market with data from CoStar’s First Quarter 2018 Boston Office Market Report:
Boston Office Rent Rates
Due to high demand, downtown Boston continues to command higher rent rates than the suburban markets. In Q1 2018, the average quoted asking rent in Boston’s central business district was $50.07 per square foot, versus $22.02 per square foot in the suburbs.
Office Space Absorbed Downtown, While Suburban Availability Increased
In Q1 2018, downtown Boston saw net positive absorption of 455,952 SF – meaning, 455,952 SF more office space was leased than became available. The suburban markets experienced the opposite, as they saw net negative absorption of 577,088 SF in Q1 2018. The vacancy rate in downtown Boston is down to 5.7%, while the suburban markets saw their vacancy rate increase to 8.5%.
Boston Office Vacancy Rates by Class
Class C office space continues to experience the lowest vacancy rate (3.6% in Q1 2018), as it has since the early 2000s. In Q1 2018, the vacancy rates at Class A and B space were 9.3% and 8.6%, respectively.
Cabot & Company was treated to a tour of this fab new building and spectacular model units that took our breath away. Ultra-luxury, 5 star amenities, and unique and expansive views. This development has changed the landscape and improved the lifestyle of the Fenway area, with an investment into the future of this sometimes-overlooked neighborhood.