MATTER’s Post

At the end of 2019, Greater Boston's office market was booming, driven by the tech and biotech sectors with soaring demand and rents. Fast forward to 2024, and the landscape has drastically changed. Our new two-part blog series delves into these shifts, examining the impact of economic changes, evolving work patterns, and declining demand. Dive deeper into the evolution of Greater Boston's office market in our detailed blog. Stay tuned for Part 2, where we'll explore leasing activity, sublease availability, construction trends, and market outlook. #WRA #CRE #TenantRep

Midtown foot traffic is now at 80% compared to prepandemic, and the renewed intestest in well located Class B buildings should also bring more demand for sidestreet retail in these markets.

Do we see us at the Family Office Forum in Weisbaden? 🙋🏼♂️ After more than 10 years, the meeting can already be described as a tradition and definitely as the family reunion of the family office community. The highlight in the family calendar will take place on 12 and 13 September, as always at the Nassauer Hof. Family Office Forum in Wiesbaden – A Milestone for the #RealEstate Industry? The highly anticipated Wiesbaden edition of the renowned Family Office Forum by Prestel is just around the corner. This annual gathering of the Family Offices, industry experts, investors, and forward-thinkers is especially significant this year, considering the unparalleled challenges the real estate sector is facing. I'm thrilled to share that I will be part of the real estate panel. Alongside other panelists, we will delve deeply into the intricate challenges of the real estate world and, more importantly, discuss the groundbreaking innovations set to navigate us out of the current situation. A focal point of our discussion will be the role of technology, particularly how it can revolutionize and reshape the industry. At Humboldt Capture, we firmly believe that digitization is the key to addressing current and #future challenges. That's why we are championing the cause of revolutionizing the real estate sector with technologies like digital twins and optical due diligence. For instance, digital twins allow for the creation of virtual replicas of physical buildings and structures, facilitating more efficient planning, development, and maintenance. On the other hand, optical due diligence enables precise and rapid property evaluation, considerably speeding up the decision-making process. At Humboldt Capture, we are proud to be at the forefront of this technological revolution, offering solutions that enhance the real estate industry's efficacy. At the Family Office Forum in Wiesbaden, we'll be showcasing our vision and approaches, eager to learn from other industry leaders and share our perspectives. Join us in this exciting discussion about the future of the real estate industry. The Wiesbaden Family Office Forum promises to be an unforgettable experience. 🙋🏼♂️ #FamilyOfficeForum #RealEstateInnovation #HumboldtCapture.

As dawn begins to illuminate the executive boardroom at Mad Mobile, I find myself transported back to a moment in time – the night we moved into our MetWest offices, before any furniture graced these walls. There's a unique magic in the stillness of this space, devoid of the usual hum of activity but pulsating with the potential and ambition that would soon fill these halls. It’s the space where I sat while waiting for the movers to arrive- excited for what was to come. It’s still my favorite place. Today, as our boardroom stands silent, I can't help but reflect on the journey we've taken together especially over this past year. The countless hours of strategy, collaboration, and innovation that have unfolded within these walls have shaped Mad Mobile into the dynamic entity it is today. While I cherish the vibrancy of our bustling workspace filled with our incredible team, there's an undeniable allure to this early morning solitude. It's a silent witness to the dreams dared to dream, the plans meticulously laid out, and the collective vision that propels us forward. As the executive boardroom embraces the pre-dawn hush, let's take a moment to honor the essence of beginnings, the potential encapsulated in an empty room, and the brilliance that emerges when our minds meet in synergy. Here's to the echoes of the past and the boundless possibilities of our future at Mad Mobile. #MadMobileMagic #ExecutiveBoardroomChronicles #BeforeTheFurnitureArrived #TeamMadMobile

The growth of life sciences requires “brick & mortar” facilities with ample square footage for employees, labs, storage, and equipment. This niche industry requires flexible office and industrial space.    While the need for life science space has always existed, the pandemic drew attention to it generating increased research, diagnostics, and manufacturing capabilities for COVID and other health-related issues. Venture capital funding for startups more than doubled, from $6.6 billion in 2019 to $13.5 billion in 2020, to an all-time high of $31.8 billion in 2021 before leveling off in 2022. This spurred a construction boom for the industry — ground-up as well as a proportionately large number of office conversions — to meet the increased demand due to the near-zero vacancy rates in life science hubs in Boston/Cambridge, San Francisco, San Diego, and Raleigh-Durham.    KBS recognized this trend in 2005 with the acquisition of SouthTech Business Center, a four-building, 260,112 square-foot Class A, light industrial property in Austin, Texas. The industrial property is home to many life science companies which helped when the company successfully sold it earlier this year. In 2021 KBS acquired a 296,327 square-foot Class A office complex in the heart of Sorrento Mesa, #SanDiego, CA’s life sciences and technology marketplace.      As the sector continues to expand and evolve, there’s an opportunity to reimagine workspaces, foster collaboration, and reinforce the industry’s commitment to innovation.     In this article, we explore how the life science industry has relied on commercial real estate for office and industrial space in which to thrive.    Read the full blog article below:  https://lnkd.in/gKYPXT3q    San Diego Business Journal, Tim Helgeson, Clarion Partners LLC #CommercialRealEstate #Office #Amenities #LifeSciences #California #Innovation #WorkspaceDesign

Are you following MBX Real Estate Creative? Make sure you catch this latest case study on Hines' The Stack Deep Ellum #PropertyBranding #MBXRealEstateCreative

The Chicago Business Journal reports that expansion deals highlighted Chicago's office market recovery in the third quarter. Robert Sevim spoke with Alex Zorn and shared, “There is activity in the marketplace, and there are some signs that businesses are in a position to take on more space and make commitments. What stands out is there are new realities for companies and business leaders who are looking at the office environment and are doubling down by saying there is value in coming into the office.” Check out the article that also references data from Savills Q3 2023 Chicago office market report: https://lnkd.in/gaxaJnn7 #WeAreSavills

2023 was undoubtedly a tough year for the office market across the US and Boston was no different. Both economic uncertainty as well as the continued conversations facing companies around how to make the office best work for their employees were big factors. Despite that, best in class assets continued to out perform the market and tenant demand continued to strengthen heading into 2024. Read more below from our Q4 2023 Downtown report:

Fascinating to read up a bit more about Google's largest office in North America: St John's terminal in New York. Historically signifcant (the new structure was built on top of the original rail terminal from the 1930s), but more importantly, designed keeping in mind how people want to work. Because people don't like coming to the office when it means sitting in the middle of a sea of desks. At Google, there is no reserved seating, but instead every team has its own 'neighbourhood' designed in a way that fosters connection and collaboration. Because Google knows, that big ideas come from small, close-knit teams. Each team gets to decide how their neighbourhood space works best for them as a team. Also, because creativity is not confined to a desk or a team, Google included many common spaces for people to meet, and there are many options to choose from, so that each team member can choose a space they feel most comfortable with. Last but definitely not least, because Google's North Star is "helping customers grow", and they grow when you spend time with them, so there is dedicated space where clients can come in and spend the day collaborating shoulder-to-shoulder with Googlers as this is key to understanding their needs and working together to find creative solutions. Reading through the article, and watching the 4 min video embedded in the article, I can't help but think about our own Incubeta Cape Town office redesign, which already implemented so many of the elements that feature in the Google St John's terminal building in New York. Google must be watching us! Featuring - Torrence Boone Sean Downey Rick Cook Take note - Linda Farr Ryan Leach

Major firms are following Google’s lead and taking advantage of New York City’s weaker investment sales market to pick up prime office, retail and industrial assets to enhance their own brands. New York City saw investment property sales fall 40 percent to $22.1 billion in 2023 the lowest in the past decade, excluding 2020 during the Covid-19 pandemic