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Holiday Wish
As we approach the year’s end, it is with a sense of blessing for the strength of our Country and gratefulness for our way of life that we wish everyone a joyous holiday season and a prosperous 2003.
Dick Cross
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Boston Investment
The New Pricing Paradigm in Sales
by Cappy Daume
Many spectators have questioned the pricing levels in Boston’s Class A market this past year, suggesting the onset of a New Pricing Paradigm. This theory inspired us to review the investment sales activity over the 1992-2002 period...
[FULL STORY]
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Underutilized Office Space Survey Results
Single-tenant corporate-owned facilities have substantial vacant space
Single-tenant owner-occupied office facilities have not been historically tracked by the real estate industry. The survey questions in November were designed to elicit the opinion of our readers on: (1) the percent of unoccupied space that is being offered for lease, and (2) the percent of unoccupied space that was not being offered for lease (shadow space) but could be reoccupied when hiring resumes...
[FULL STORY]
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Preventive Maintenance
The Key to Cutting
by Robert S. Potterton
A pro-active, well-managed preventive maintenance program, with an emphasis towards environmental awareness and safety can go a long way in substantially reducing the potential and liability for property owners. ‘Sick building syndrome,’ leaking underground storage tanks, hazardous waste, asbestos, lead paint and now mold contamination are...
[FULL STORY]
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December Survey Question
Where will office rents be in 6 months?
Six months ago we asked the same question. The June survey showed differing views on the direction office rents will take in Greater Boston and in Metro Washington, clearly based on the perceived health of each market. The outlook in Greater Boston was more pessimistic based on lack of job creation and continued negative absorption and a lack interest and competition among tenants for the space that is available. In Metro Washington, the view was somewhat more positive based on the large number of leasing transactions from the Federal government, but was still tempered by the lack of growth in demand from the private sector. We are analyzing year-end data and will report actual trends, compared to your June predictions, in our mid-January issue. In this issue we again ask you to try your hand at predicting the percent change we will see in office rents in July 2003, 6 months from now...
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