BOSTON-Named exclusive leasing agents for the Offices at Copley Place, Richards Barry Joyce & Partners (RBJ) are responsible for hot space at an even hotter time. According to data from the firm, the Greater Boston Office Market closed its strongest quarter since 2007. RBJ has now been brought on by Simon Properties for their latest leasing task in one of the city’s most prolific neighborhoods.
Available class A office space spans 845,000 square feet in the area and is located in four towers just opposite the Back Bay commuter rail station. “It’s an amenity-laden area,” said John Barry, founder of RBJ. “We are hoping to attract a wide range of tenants ,” he added. The spaces are appropriate for ad firms, traditional financial services firms and high tech companies.
Boston has been blossoming over the past year and Back Bay is its hottest submarket. It might boast the highest rents in the city, but it’s a “positive” environment for growth, Barry says. The city’s also “currently trending in the direction towards new construction,” with most new buildings being built-to-suit and already least up before completion.
Q3 this year was spectacular for Boston office, with 1.1 million square feet absorbed and 2.3 million square feet of office space in the pipeline in nine locations in the market, according to data from RBJ’s quarterly office sTATus report. Currently, places like Fan Pier, and Tech Square in Cambridge are seeing plenty of activity while the new Keurig building and expansion out in Burlington will command a total of 343,000 new square feet of space.
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