Our Blog http://naihunnemanblog.com/?p=1771 https://naihunnemanblog.com/2018/08/02/nai-hunneman-completes-30100-square-foot-lease-for-altitude-trampoline-park-in-north-attleboro/ Uncategorized NAI Hunneman Completes 30,100 Square Foot Lease for Altitude Trampoline Park in North Attleboro BOSTON, MA – NAI Hunneman announced today the completion of a 30,100 square foot lease transaction with Altitude Trampoline Park for a new location within the Christmas Tree Shops Plaza at 1505 S. Washington Street in North Attleboro. This is Altitude’s seventh New England location, which recently opened on July 20th. The state of the &#8230; <a href="https://naihunnemanblog.com/2018/08/02/nai-hunneman-completes-30100-square-foot-lease-for-altitude-trampoline-park-in-north-attleboro/" class="more-link">Continue reading <span class="screen-reader-text">NAI Hunneman Completes 30,100 Square Foot Lease for Altitude Trampoline Park in North&#160;Attleboro</span></a> Thu, 02 Aug 2018 18:20:41 Z https://naihunnemanblog.com/2018/08/02/nai-hunneman-completes-30100-square-foot-lease-for-altitude-trampoline-park-in-north-attleboro/#respond NAI Hunneman <p><img data-attachment-id="1772" data-permalink="https://naihunnemanblog.com/2018/08/02/nai-hunneman-completes-30100-square-foot-lease-for-altitude-trampoline-park-in-north-attleboro/alt-trampoline-park/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=676" data-orig-size="960,540" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Alt Trampoline Park" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=676?w=676" class="alignnone size-full wp-image-1772" src="https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=676" alt="Alt Trampoline Park" srcset="https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/08/alt-trampoline-park.jpg 960w" sizes="(max-width: 676px) 100vw, 676px" /></p> <p>BOSTON, MA – NAI Hunneman announced today the completion of a 30,100 square foot lease transaction with Altitude Trampoline Park for a new location within the Christmas Tree Shops Plaza at 1505 S. Washington Street in North Attleboro. This is Altitude’s seventh New England location, which recently opened on July 20th. The state of the art indoor trampoline park features wall-to-wall trampolines, as well as an abundance of attractions for guests of all ages including Dodgeball, Wipeout, Foam Pits, Trapeze, Log Roll, Rock Wall, Kid Zone and Basketball Dunking Lanes.</p> <p>The NAI Hunneman team of Cathy Minnerly, Sean Hannigan and Glenne Bachman represented Altitude Trampoline Park, while the landlord, The Lightstone Group, was represented by Angelo Pappas of Charter Realty &amp; Development.</p> <p>“1505 S. Washington Street is another home run location for Altitude,” said Sean Hannigan, of NAI Hunneman. “The site is easily accessible from I-295/95 and located just minutes from other shopping centers and retail attractions.”</p> <p>Kerry Hughes, Vice President of Sales for Altitude Trampoline Park said, “We are excited to have another location opening in Massachusetts. With locations in Billerica, Marlborough, Avon, and now North Attleboro, we are continuing to grow our footprint in the area.”</p> <p>The NAI Hunneman team has also recently completed lease transactions for new Altitude Trampoline Park locations in Concord, Merrimack and Pelham, New Hampshire alongside Deana Arden of NAI Norwood. For more information on Altitude North Attleboro, please visit their website at <a href="https://www.altitudenorthattleboro.com/">https://www.altitudenorthattleboro.com/</a>.</p> <p><strong><u>About NAI Hunneman:</u></strong></p> <p>Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of over 7,000 professionals and more than 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network, please visit naihunneman.com.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>###</p> <p>&nbsp;</p> <p>&nbsp;</p> https://naihunnemanblog.com/2018/08/02/nai-hunneman-completes-30100-square-foot-lease-for-altitude-trampoline-park-in-north-attleboro/feed/ 0 naihunneman Alt Trampoline Park 2018-08-02 18:20 +00:00 2018-08-02 13:20 -05:00 http://naihunnemanblog.com/?p=1765 https://naihunnemanblog.com/2018/08/02/the-importance-of-data-collection/ Uncategorized The Importance of Data Collection Economics is a wonderful subject. It combines the seemingly-opposing worlds of social science and mathematics. Economists, despite being rather empirical in their methodology, disagree on many of the principles that form the foundation of Economics. This reality, though seemingly daunting, actually allows for a broad spectrum of analysis from qualified individuals in an enigmatic field. &#8230; <a href="https://naihunnemanblog.com/2018/08/02/the-importance-of-data-collection/" class="more-link">Continue reading <span class="screen-reader-text">The Importance of Data&#160;Collection</span></a> Thu, 02 Aug 2018 12:09:57 Z https://naihunnemanblog.com/2018/08/02/the-importance-of-data-collection/#respond NAI Hunneman <p><img data-attachment-id="1769" data-permalink="https://naihunnemanblog.com/2018/08/02/the-importance-of-data-collection/aaf5085167e3c3fd871506452911-1443941/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=676" data-orig-size="1200,747" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="aaf5085167e3c3fd871506452911-1443941" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=676?w=676" class="alignnone size-full wp-image-1769" src="https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=676" alt="aaf5085167e3c3fd871506452911-1443941" srcset="https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg?w=1024 1024w, https://naihunnemanblog.files.wordpress.com/2018/08/aaf5085167e3c3fd871506452911-1443941.jpg 1200w" sizes="(max-width: 676px) 100vw, 676px" /></p> <p>Economics is a wonderful subject. It combines the seemingly-opposing worlds of social science and mathematics. Economists, despite being rather empirical in their methodology, disagree on many of the principles that form the foundation of Economics. This reality, though seemingly daunting, actually allows for a broad spectrum of analysis from qualified individuals in an enigmatic field. However, I would be willing to bet that there is one area where economists, regardless of specialization, could come together in agreement: data collection. The constant issue that plagues the field of economics is consistent and accurate data collection. This is an important problem that deserves our collective attention.</p> <p>Here at NAI Hunneman, the research department compiles and analyzes data to create quarterly reports for the Metro Boston area. We also produce white papers and other research materials. In the commercial real estate sector of the economy, it is particularly important to have accurate data. With accurate data, brokers, analysts, appraisers, and tenants will be at a collective advantage. There are five specific reasons why accurate data is necessary for the commercial real estate community.</p> <ol> <li><strong>It saves everybody’s time.</strong></li> </ol> <p>If real estate had reliable data available, the process of obtaining credible information would become shorter. When real estate professionals have more time and better data, they can do their jobs faster. Moreover, the work of these commercial real estate professionals will become more accurate.</p> <ol start="2"> <li><strong>Better data means better quality analysis. </strong></li> </ol> <p>Economists complete analyses on the real estate markets in their home cities, the nation, and the world. Their analysis helps brokers, appraisers, tenants, and non-real estate economists understand the market. If analysts and economists were given up-to-date, accurate data, they could make more specific analyses, more accurate predictions, and provide the CRE community with a higher volume of information.</p> <ol start="3"> <li><strong>Brokers can make better informed decisions. </strong></li> </ol> <p>A brokerage team can give itself an advantage on the competition by maintaining accurate data on properties and tenants. Good data makes brokers competitive against their peers. Knowing more about a community or a building can breed goodwill with a client. By putting a premium on accuracy, brokers can give their clients the best possible information to ensure they are making the most informed decision.</p> <ol start="4"> <li><strong>Appraisers can’t accurately assess properties without robust data.</strong></li> </ol> <p>Appraisers, in their efforts to assess the market value of a property, need pertinent information to do their work. For example, it can be very easy for a building’s renovations to go unreported in a database. Appraisers rely on accurate data in order to make prudent estimates about the fair market value of a property. Instances where appraisals miss additions or other new features due to misinformation are problematic.</p> <ol start="5"> <li><strong>Buyers/ Investors need good data to make decisions. </strong></li> </ol> <p>There will always be firms buying and selling real estate. However, a firm’s decisions are only as good as the data that drives them. When making investment decisions, investors will compile the best available information and make an informed decision. Better data means better investment decisions. Owners and landlords rely on accurate data to influence their decisions. They rely on data to know the state of the market and the risk involved with potential investments. The more these firms can count on the available data, the more they will make informed investment decisions.</p> <p>The fundamental point is this: with a healthy source of reliable data, real estate professionals, and those who interact with them, will begin their work from a more informed position. Analysts will be able to provide their colleagues with accurate, micro-level analysis; brokers will be able to compete more effectively and guide their clients more responsibly; appraisers will be able to provide more accurate property values; and clients will be able to make informed decisions about real estate that will benefit their employees and the economy as a whole.</p> <p><em>This post was written by NAI Hunneman Research Intern John Olds</em></p> https://naihunnemanblog.com/2018/08/02/the-importance-of-data-collection/feed/ 0 naihunneman aaf5085167e3c3fd871506452911-1443941 2018-08-02 12:09 +00:00 2018-08-02 07:09 -05:00 http://naihunnemanblog.com/?p=1762 https://naihunnemanblog.com/2018/07/31/nai-hunneman-completes-two-leases-totaling-64000-square-feet-in-needham/ Uncategorized NAI Hunneman Completes Two Leases Totaling 64,000 Square Feet in Needham BOSTON, MA – NAI Hunneman announces the completion of a 47,000 square foot lease transaction with Brigham and Women’s Physicians Organization and a 17,000 square foot lease with ClearEdge Partners to relocate to 254 Second Avenue in Needham. The building is in the process of undergoing a major transformation with the addition of a top tier &#8230; <a href="https://naihunnemanblog.com/2018/07/31/nai-hunneman-completes-two-leases-totaling-64000-square-feet-in-needham/" class="more-link">Continue reading <span class="screen-reader-text">NAI Hunneman Completes Two Leases Totaling 64,000 Square Feet in&#160;Needham</span></a> Tue, 31 Jul 2018 15:23:23 Z https://naihunnemanblog.com/2018/07/31/nai-hunneman-completes-two-leases-totaling-64000-square-feet-in-needham/#respond NAI Hunneman <div data-shortcode="caption" id="attachment_1763" style="width: 3990px" class="wp-caption alignnone"><img data-attachment-id="1763" data-permalink="https://naihunnemanblog.com/2018/07/31/nai-hunneman-completes-two-leases-totaling-64000-square-feet-in-needham/254-second-avenue/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=676" data-orig-size="3980,2346" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="254 Second Avenue" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=676?w=676" class="alignnone size-full wp-image-1763" src="https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=676" alt="254 Second Avenue" srcset="https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=1350 1350w, https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/07/254-second-avenue-e1533050577925.jpg?w=1024 1024w" sizes="(max-width: 676px) 100vw, 676px" /><p class="wp-caption-text">On behalf of owner, Grander Capital Partners, NAI Hunneman’s Suburban Team completes lease transactions with Brigham &amp; Women’s Physicians Organization and ClearEdge Partners</p></div> <p>BOSTON, MA – NAI Hunneman announces the completion of a 47,000 square foot lease transaction with Brigham and Women’s Physicians Organization and a 17,000 square foot lease with ClearEdge Partners to relocate to 254 Second Avenue in Needham. The building is in the process of undergoing a major transformation with the addition of a top tier amenity package that includes a fitness center with men’s and women’s locker rooms, an upscale grab and go café, an outdoor patio, and renovated common areas.</p> <p>The NAI Hunneman team of Ned Halloran, Leeanne Rizzo, and Sean Hannigan represented the landlord, Grander Capital Partners. ClearEdge Partners was represented by Andrew Whipple and Brendan Cohn from JLL in their relocation from Newton, while Julie Gray from McCall &amp; Almy represented Brigham and Women’s Physicians Organization.</p> <p>“Grander Capital Partners’ hands on approach to ownership and operations was a huge advantage to help secure commitments from these two tenants,” said Ned Halloran, of NAI Hunneman. “The commitment from ownership to perform major building updates allowed us to reposition the building in the market and secure long-term commitments from ClearEdge and Brigham and Women’s.”</p> <p><strong><u>About NAI Hunneman:</u></strong></p> <p>Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of over 7,000 professionals and more than 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network, please visit naihunneman.com.</p> <p>###</p> https://naihunnemanblog.com/2018/07/31/nai-hunneman-completes-two-leases-totaling-64000-square-feet-in-needham/feed/ 0 naihunneman 254 Second Avenue 2018-07-31 15:23 +00:00 2018-07-31 10:23 -05:00 http://naihunnemanblog.com/?p=1759 https://naihunnemanblog.com/2018/07/30/nai-hunneman-secures-deal-for-massachusetts-logistics-firm/ Uncategorized NAI Hunneman Secures Deal for Massachusetts Logistics Firm BOSTON, MA – NAI Hunneman announces today that it has completed a lease agreement with Champagne Logistics to grow into a 65,000 square foot space at 431 Washington Street in Franklin, Massachusetts. The new space will allow Champagne Logistics to relocate from its current location at 15 Liberty Way in Franklin, and significantly expand. The &#8230; <a href="https://naihunnemanblog.com/2018/07/30/nai-hunneman-secures-deal-for-massachusetts-logistics-firm/" class="more-link">Continue reading <span class="screen-reader-text">NAI Hunneman Secures Deal for Massachusetts Logistics&#160;Firm</span></a> Mon, 30 Jul 2018 18:10:45 Z https://naihunnemanblog.com/2018/07/30/nai-hunneman-secures-deal-for-massachusetts-logistics-firm/#respond NAI Hunneman <div data-shortcode="caption" id="attachment_1760" style="width: 4010px" class="wp-caption alignnone"><img data-attachment-id="1760" data-permalink="https://naihunnemanblog.com/2018/07/30/nai-hunneman-secures-deal-for-massachusetts-logistics-firm/dcim100mediadji_0337-jpg/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=676" data-orig-size="4000,1652" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="DCIM100MEDIADJI_0337.JPG" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=676?w=676" class="alignnone size-full wp-image-1760" src="https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=676" alt="DCIM100MEDIADJI_0337.JPG" srcset="https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=1352 1352w, https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/07/431-washington-e1532974217971.jpg?w=1024 1024w" sizes="(max-width: 676px) 100vw, 676px" /><p class="wp-caption-text">Minnerly, Osvold, &amp; Hannigan complete 65,000 Square Foot Lease in Franklin</p></div> <p>BOSTON, MA – NAI Hunneman announces today that it has completed a lease agreement with Champagne Logistics to grow into a 65,000 square foot space at 431 Washington Street in Franklin, Massachusetts. The new space will allow Champagne Logistics to relocate from its current location at 15 Liberty Way in Franklin, and significantly expand.</p> <p>The NAI Hunneman South Team of Cathy Minnerly, Ovar Osvold, and Sean Hannigan represented the landlord, GFI Partners, in the transaction, while Champagne Logistics was represented by Danielle Simbliaris of CBRE.</p> <p>“Remaining in the Franklin area was important to Champagne,” said Osvold. “431 Washington accomplished this goal, along with providing them the ability to expand and grow their business without much disruption, creating a win-win deal for both Landlord and Tenant.”</p> <p><strong><u>About NAI Hunneman:</u></strong></p> <p>Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 7,000 professionals and 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network, please visit <u>naihunneman.com.</u></p> <p>&nbsp;</p> <p>###</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p> https://naihunnemanblog.com/2018/07/30/nai-hunneman-secures-deal-for-massachusetts-logistics-firm/feed/ 0 naihunneman DCIM100MEDIADJI_0337.JPG 2018-07-30 18:10 +00:00 2018-07-30 13:10 -05:00 http://naihunnemanblog.com/?p=1752 https://naihunnemanblog.com/2018/07/19/icsc-panel-into-the-mindset-of-millennials/ Uncategorized ICSC Panel – Into the Mindset of Millennials From July 16-18, retailers and real estate professionals convened for the International Council of Shopping Centers’ (ICSC) New England Conference. The conference, taking place at the John B. Hynes Convention Center in Boston, consisted of networking opportunities, keynote speakers, and concurrent panel sessions. One of the panel discussions was moderated by NAI Hunneman’s Research Director, &#8230; <a href="https://naihunnemanblog.com/2018/07/19/icsc-panel-into-the-mindset-of-millennials/" class="more-link">Continue reading <span class="screen-reader-text">ICSC Panel – Into the Mindset of&#160;Millennials</span></a> Thu, 19 Jul 2018 20:30:50 Z https://naihunnemanblog.com/2018/07/19/icsc-panel-into-the-mindset-of-millennials/#respond NAI Hunneman <p>From July 16-18, retailers and real estate professionals convened for the <a href="https://www.icsc.org/attend-and-learn/events/details/new-england-conference-deal-making2">International Council of Shopping Centers’ (ICSC) New England Conference</a>. The conference, taking place at the John B. Hynes Convention Center in Boston, consisted of networking opportunities, keynote speakers, and concurrent panel sessions. One of the panel discussions was moderated by NAI Hunneman’s Research Director, Liz Berthelette. Her panel was tasked with discussing the evolving role that retail and branding is playing in a society that consists of a plurality of millennials.</p> <p><img data-attachment-id="1753" data-permalink="https://naihunnemanblog.com/2018/07/19/icsc-panel-into-the-mindset-of-millennials/icsci-copy/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png?w=676" data-orig-size="698,211" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="ICSCI &#8211; Copy" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png?w=676?w=676" class="alignnone size-full wp-image-1753" src="https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png?w=676" alt="ICSCI - Copy" srcset="https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/07/icsci-copy.png 698w" sizes="(max-width: 676px) 100vw, 676px" /></p> <p>The panel, aptly named “Into the Mindset of Millennials,” consisted of three Boston-based millennials: Alan Kelly, Christina Attaway, and Nikki Crugnale. Alan is an Irish immigrant who serves as the Director of Leasing for the Northeast at <a href="http://www.waterstonepg.com/">Waterstone Properties Group</a>. His perspective and experience stood in stark contrast to the stereotypes given to millennials. Alan and his family live in Central Massachusetts; he bucks the trend of millennials moving to urban areas. Much of Alan’s analysis harped on his, and others’, desire to bring back human interaction in the commerce experience. Christina serves as the Manager of Social Media and Marketing at <a href="https://www.urbanmeritage.com/">UrbanMeritage</a>/<a href="https://www.newburystboston.com/avantage-newbury/">Advantage Newbury</a>. Her outlook focused on the benefits of social media and the conveniences afforded to those who live in the city. Nikki is the owner of <a href="https://graemroasters.com/">Graem Nuts and Chocolate</a>. As an entrepreneur, Nikki gave the discussion a unique perspective. Her central themes included how social media can help grow a business and how millennials can be both innovative and financially responsible.</p> <p>Perhaps the most interesting parts of the discussion came when the panel discussed some of the misconceptions and generalizations that have come to cloud the perspectives of millennial observers. They also discussed urban vs. suburban living; e-commerce vs. in-person shopping; and attractiveness of brands. Regarding housing, only <a href="https://www.cnbc.com/2018/04/26/millennial-homeownership-suddenly-drops-after-a-good-run.html">35.3%</a> of millennials own a home compared to 64.2% of the population at large. This suggests that most millennials are living in apartments which, presumably, would be in urban areas. Further, the conveniences of urban living seem to be attractive to millennials. Shorter commute times, easy access to gyms and shopping centers, easy mobility with public transportation, and bustling social scenes are just a few of the many feature that millennials find attractive in urban life.</p> <div data-shortcode="caption" id="attachment_1754" style="width: 4042px" class="wp-caption alignnone"><img data-attachment-id="1754" data-permalink="https://naihunnemanblog.com/2018/07/19/icsc-panel-into-the-mindset-of-millennials/img_8240-copy/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=676" data-orig-size="4032,2408" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="IMG_8240 &#8211; Copy" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=676?w=676" class="alignnone size-full wp-image-1754" src="https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=676" alt="IMG_8240 - Copy" srcset="https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=1352 1352w, https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/07/img_8240-copy-e1532032215605.jpeg?w=1024 1024w" sizes="(max-width: 676px) 100vw, 676px" /><p class="wp-caption-text">Liz Berthelette, Nikki Crugnale, Christina Attaway, Alan Kelly</p></div> <p>Regarding a millennial’s shopping preferences, there was no clear consensus among the group. According to a <a href="https://www.fierceretail.com/operations/millennials-believe-brick-and-mortar">recent study</a>, 82% of millennials prefer a brick and mortar shopping experience but expect cross channel experiences, superior services, and personalized promotions. However, in the last ten years, <a href="https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf">e-commerce has jumped</a> from 3.6% of total retail sales to 9.5%. These conflicting numbers depict a diverse set of preferences among millennials. Treating this generation as homogeneous would be a mistake. Nonetheless, the advent of e-commerce has allowed millennial shoppers to choose the optimal experience for them. Most shoppers seem to buy bigger items in person while smaller, less-consequential items are often bought online.</p> <p>The evolving shopping experience led nicely into a discussion of branding. Branding to millennials will take new and innovative strategies from marketers. <a href="https://www.mediapost.com/publications/article/217451/bcg-studies-ways-gen-y-rewards-brand-soul.html">48% of millennials</a> try to frequent companies that actively support social causes. As panelist Alan Kelly put it, “for millennials, mediocre doesn’t cut it anymore.” Effectively, as e-commerce becomes more prevalent and millennials become used to the chic designs of urban shops, the status quo for designing and branding becomes the pricey, flashy brands from the city. Also, millennials tend to value the story behind the brand. Aside from support of social causes, millennials like to know the story behind the retailer. Are they the first in their family to attend college? Are they first generation immigrants? Did they grow up poor? Accessible answers to questions like these tend to get millennials in the door.</p> <p>It is important for business owners and leaders not to forget the obvious trends that are driven by millennials. Many prefer urban living. They are shopping online. They have a high demand for a quality brand. But perhaps the central answer derived from the “Inside the Mindset of Millennials” panel was that it is wrong to paint millennials with a broad brush. For every millennial that job hops, accrues debt, and lives with their parents, there exists a millennial that bucks those stereotypes.</p> <p><em>This post was written by NAI Hunneman Research Intern John Olds</em></p> https://naihunnemanblog.com/2018/07/19/icsc-panel-into-the-mindset-of-millennials/feed/ 0 naihunneman ICSCI - Copy IMG_8240 - Copy 2018-07-19 20:30 +00:00 2018-07-19 15:30 -05:00 http://naihunnemanblog.com/?p=1744 https://naihunnemanblog.com/2018/06/25/the-fed-increased-interest-rates-dont-panic/ Uncategorized The Fed Increased Interest Rates; Don’t Panic. The Federal Reserve decided to raise its benchmark rate to a range of 1.75 to 2 percent recently, the second rate hike this year and the 8th since 2015. The Federal Open Market Committee also signaled they expect to have four total increases this year, a departure from their March projection of three. There is &#8230; <a href="https://naihunnemanblog.com/2018/06/25/the-fed-increased-interest-rates-dont-panic/" class="more-link">Continue reading <span class="screen-reader-text">The Fed Increased Interest Rates; Don’t&#160;Panic.</span></a> Mon, 25 Jun 2018 18:41:07 Z https://naihunnemanblog.com/2018/06/25/the-fed-increased-interest-rates-dont-panic/#respond NAI Hunneman <p><img data-attachment-id="1747" data-permalink="https://naihunnemanblog.com/2018/06/25/the-fed-increased-interest-rates-dont-panic/business-people/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=676" data-orig-size="2716,1474" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Business people" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=676?w=676" class="alignnone size-full wp-image-1747" src="https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=676" alt="Business people" srcset="https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=1352 1352w, https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/06/istock_000019168462large-e1529951962695.jpg?w=1024 1024w" sizes="(max-width: 676px) 100vw, 676px" /></p> <p>The Federal Reserve decided to raise its benchmark rate to a range of 1.75 to 2 percent recently, the second rate hike this year and the 8<sup>th</sup> since 2015. The Federal Open Market Committee also signaled they expect to have four total increases this year, a departure from their March projection of three. There is some disagreement over the number of rate hikes for 2018, with 9 of the 16 FOMC participants expecting the rate to increase by 50 basis points or more. The remaining 7 estimated one or no more increases.</p> <p>The acceleration of the FOMC’s policy from its original forward guidance was expected by many Fed watchers as the U.S. labor market continues to strengthen. While inflation is still running below the 2 percent target rate, the unemployment rate is well below what many economists consider the natural rate of unemployment and the competition for labor should put upward pressure on wages and inflation. The committee revised its projections for inflation, real GDP, and unemployment in 2018 to reflect these strong gains and removed language suggesting monetary policy would be accommodative for some time.</p> <p>Generally, individual rate hikes should not have a major impact on Boston commercial real estate markets. For those of us whose Econ 101 is a little rusty, the Fed uses rate hikes to control the pace of economic activity by increasing the rate at which banks can borrow overnight from each other. Banks respond by raising their own rates which increases the cost of financing and can reduce demand in the real estate market and that can push up cap rates. However, cap rates are affected by more than just capital costs and despite three years of the fed slowly increasing rates, cap rates in Boston’s office market have continued to slowly decline. Economic growth, supply of commercial space, and labor market conditions will more likely affect local commercial real estate markets and cap rates than slow moving, predictable interest rate hikes.</p> <p><img data-attachment-id="1745" data-permalink="https://naihunnemanblog.com/2018/06/25/the-fed-increased-interest-rates-dont-panic/chart-final/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg?w=676" data-orig-size="691,410" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Chart Final" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg?w=676?w=676" class="alignnone size-full wp-image-1745" src="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg?w=676" alt="Chart Final" srcset="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/06/chart-final.jpg 691w" sizes="(max-width: 676px) 100vw, 676px" /></p> <p>What does this mean long term? The Fed policy of rate hikes while also shrinking their balance sheet will ultimately be a drag on economic growth. However, the narrative remains positive. The expectation of an additional rate hike while still unwinding their balance sheet and the committees projections show they are confident the U.S. economy can sustain itself without accommodative monetary policy while also giving policy makers space from the zero lower bound if they need it. While increased rates may weigh on economic growth, a strong U.S. economy is a tailwind for Boston’s commercial real estate markets.</p> <p><img data-attachment-id="1746" data-permalink="https://naihunnemanblog.com/2018/06/25/the-fed-increased-interest-rates-dont-panic/chart-final-2/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final-2.png?w=676" data-orig-size="624,514" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Chart Final 2" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final-2.png?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final-2.png?w=676?w=624" class="alignnone size-full wp-image-1746" src="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final-2.png?w=676" alt="Chart Final 2" srcset="https://naihunnemanblog.files.wordpress.com/2018/06/chart-final-2.png 624w, https://naihunnemanblog.files.wordpress.com/2018/06/chart-final-2.png?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/06/chart-final-2.png?w=300 300w" sizes="(max-width: 624px) 100vw, 624px" /></p> <p><em>This post was written by NAI Hunneman Research Analyst Joey Biasi</em></p> <h6>Source: Board of Governors, June 2018</h6> https://naihunnemanblog.com/2018/06/25/the-fed-increased-interest-rates-dont-panic/feed/ 0 naihunneman Business people Chart Final Chart Final 2 2018-06-25 18:41 +00:00 2018-06-25 13:41 -05:00 http://naihunnemanblog.com/?p=1737 https://naihunnemanblog.com/2018/06/05/suburbs-dominate-recent-office-sales/ Uncategorized Suburbs Dominate Recent Office Sales As discussed in our Q1 2018 office market report, transaction volume failed to make headway in Boston’s office market during the first quarter of 2018. With that said, Boston remains a highly-desirable destination for capital among all investor types, and the limited inventory of available properties for sale continues to drive up pricing. Similar to national &#8230; <a href="https://naihunnemanblog.com/2018/06/05/suburbs-dominate-recent-office-sales/" class="more-link">Continue reading <span class="screen-reader-text">Suburbs Dominate Recent Office&#160;Sales</span></a> Tue, 05 Jun 2018 15:46:43 Z https://naihunnemanblog.com/2018/06/05/suburbs-dominate-recent-office-sales/#respond Liz Berthelette <p>As discussed in our <a href="https://user-169168.cld.bz/Q1-2018-OfficeReport">Q1 2018 office market report</a>, transaction volume failed to make headway in Boston’s office market during the first quarter of 2018. With that said, Boston remains a highly-desirable destination for capital among all investor types, and the limited inventory of available properties for sale continues to drive up pricing.</p> <p><img data-attachment-id="1740" data-permalink="https://naihunnemanblog.com/2018/06/05/suburbs-dominate-recent-office-sales/abp_7513_edited/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=676" data-orig-size="4723,2128" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D800&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1503665444&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;640&quot;,&quot;shutter_speed&quot;:&quot;0.00025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="ABP_7513_edited" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=676?w=676" class="alignnone size-full wp-image-1740" src="https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=676" alt="ABP_7513_edited" srcset="https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=1352 1352w, https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/06/abp_7513_edited.jpg?w=1024 1024w" sizes="(max-width: 676px) 100vw, 676px" /></p> <p>Similar to national office trends, suburban investment is on an upswing. Investors seeking higher yields and greater opportunities are driving this expanded activity. In fact, more than $1.3 billion in suburban assets have changed hands in the last two quarters. In Boston’s urban markets, which encompasses Cambridge, less than $500 million transacted during the same time frame. Three out of the top four largest first-quarter office transactions took place in the ‘burbs, with CrossHarbor Capital Partners’ $277 million purchase of Cross Point in Lowell representing the top deal. Spear Street Capital’s $88 million acquisition of the former Reebok campus in Canton was another major sale that closed in early 2018.</p> <p><img data-attachment-id="1738" data-permalink="https://naihunnemanblog.com/2018/06/05/suburbs-dominate-recent-office-sales/sales-data_quarterly-volume-002_edited/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=676" data-orig-size="1692,800" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Sales Data_Quarterly Volume (002)_edited" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=676?w=676" class="alignnone size-full wp-image-1738" src="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=676" alt="Sales Data_Quarterly Volume (002)_edited" srcset="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=1352 1352w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_quarterly-volume-002_edited.jpg?w=1024 1024w" sizes="(max-width: 676px) 100vw, 676px" />As a result, pricing growth has finally started to gain some momentum in Greater Boston’s suburbs; expanding by 30% from Q1 2017 to Q1 2018. Barring this recent surge, suburban sale prices have remained relatively stable. It wasn’t until very recently that pricing had reached the previous cycle’s peak. While growth has slowed in the urban markets, pricing remains elevated near peak levels and the delta between urban/suburban pricing is as wide as ever.</p> <p><img data-attachment-id="1739" data-permalink="https://naihunnemanblog.com/2018/06/05/suburbs-dominate-recent-office-sales/sales-data_median-price-002_edited/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=676" data-orig-size="1700,857" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="Sales Data_Median Price (002)_edited" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=676?w=676" class="alignnone size-full wp-image-1739" src="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=676" alt="Sales Data_Median Price (002)_edited" srcset="https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=1352 1352w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/06/sales-data_median-price-002_edited.jpg?w=1024 1024w" sizes="(max-width: 676px) 100vw, 676px" />As a result, when Downtown assets do change hands, buyers will pay a premium. Exan Capital recently purchased 40 Court Street, a 109,705-square-foot Class B asset in the Financial District for $54 million or $492 per square foot at a 4% cap rate. Stars Investment paid just $31 million for the building in 2014. The sale of 28 State Street is reportedly nearing completion, with an estimated price tag of $430 million or $745 per square foot. This would represent a 25% price increase from the asset’s 2014 sale. Finally, Tishman Speyer’s yet-to-be-delivered Pier 4 office building could fetch $420 million or a whopping $1,100 per square foot.</p> <p>Given these pricing trends and the lack of available product for sale in urban Boston, investors will continue to seek value in suburban assets.</p> https://naihunnemanblog.com/2018/06/05/suburbs-dominate-recent-office-sales/feed/ 0 lberthelette ABP_7513_edited Sales Data_Quarterly Volume (002)_edited Sales Data_Median Price (002)_edited 2018-06-05 15:46 +00:00 2018-06-05 10:46 -05:00 http://naihunnemanblog.com/?p=1732 https://naihunnemanblog.com/2018/05/02/nai-hunnemans-urban-advisory-group-brokers-5044-sf-lease-at-133-federal-street/ Company News Dowtown Boston Press Release Boston commercial real estate Financial District office NAI Hunneman’s Urban Advisory Group Brokers 5,044 SF Lease at 133 Federal Street Roth &#38; Evans represent Accu-Time Systems in relocation and expansion within Boston’s Financial District NAI Hunneman recently completed a 5,044 SF long-term lease transaction with Accu-Time Systems. The Connecticut based time and attendance technology company will be relocating from 175 Federal Street to the ninth floor of 133 Federal Street this Summer. NAI Hunneman Urban &#8230; <a href="https://naihunnemanblog.com/2018/05/02/nai-hunnemans-urban-advisory-group-brokers-5044-sf-lease-at-133-federal-street/" class="more-link">Continue reading <span class="screen-reader-text">NAI Hunneman’s Urban Advisory Group Brokers 5,044 SF Lease at 133 Federal&#160;Street</span></a> Wed, 02 May 2018 14:04:08 Z https://naihunnemanblog.com/2018/05/02/nai-hunnemans-urban-advisory-group-brokers-5044-sf-lease-at-133-federal-street/#respond NAI Hunneman <p><img data-attachment-id="1733" data-permalink="https://naihunnemanblog.com/2018/05/02/nai-hunnemans-urban-advisory-group-brokers-5044-sf-lease-at-133-federal-street/133-federal/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=641&#038;h=438" data-orig-size="982,672" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}" data-image-title="133 Federal" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=641&#038;h=438?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=641&#038;h=438?w=676" class=" wp-image-1733 aligncenter" src="https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=641&#038;h=438" alt="133 Federal" width="641" height="438" srcset="https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=641&amp;h=438 641w, https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=150&amp;h=103 150w, https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=300&amp;h=205 300w, https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg?w=768&amp;h=526 768w, https://naihunnemanblog.files.wordpress.com/2018/05/133-federal.jpg 982w" sizes="(max-width: 641px) 100vw, 641px" /></p> <p style="text-align:center;"><em>Roth &amp; Evans represent Accu-Time Systems in relocation and expansion within Boston’s Financial District</em></p> <p>NAI Hunneman recently completed a 5,044 SF long-term lease transaction with Accu-Time Systems. The Connecticut based time and attendance technology company will be relocating from 175 Federal Street to the ninth floor of 133 Federal Street this Summer.</p> <p>NAI Hunneman Urban Advisory Group members Jason Roth &amp; Peter Evans represented Accu-Time in the transaction, while Gilbert Dailey and Tim Bianchi of Newmark Knight Frank represented the landlord, Transnational.</p> <p>“Accu-Time thoroughly examined the market but, in the end, 133 Federal Street offered the firm exactly what it was looking for, a centrally located, Class A building, along with a customized-buildout that allows them to accommodate growth without dramatically increasing their footprint,” said Roth.</p> <p>Accu-Time CFO Lisa Gladysz said, “NAI Hunneman’s Urban Advisory Group left no stone unturned, giving us an abundance of information on the market, guiding our evaluation process, and leading our lease negotiations. 133 Federal Street checked all the boxes; new space that will allow us to accommodate growth without significantly expanding our footprint, and a central downtown location that allows us to retain our existing employees and recruit additional talent.”</p> <p><strong><u>NAI Hunneman’s Urban Advisory Group</u></strong></p> <p>NAI Hunneman’s Urban Advisory Group provides landlords and tenants with the highest level of innovative real estate solutions focused on Boston’s core urban markets as well as its immediate inner suburban ring. The Urban Advisory Group consists of Peter Evans, Jason Roth, Colin Gordon, and Matthew Davis.</p> <p><strong><u>NAI Hunneman:</u></strong></p> <p>Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 7,000 professionals and 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman, please visit <a href="http://www.naihunneman.com">www.naihunneman.com</a>.</p> <p style="text-align:center;">###</p> https://naihunnemanblog.com/2018/05/02/nai-hunnemans-urban-advisory-group-brokers-5044-sf-lease-at-133-federal-street/feed/ 0 naihunneman 133 Federal 2018-05-02 14:04 +00:00 2018-05-02 09:04 -05:00 http://naihunnemanblog.com/?p=1729 https://naihunnemanblog.com/2018/04/24/from-the-research-desk-takeaways-from-the-new-england-real-estate-journals-south-of-boston-summit/ Company News Research South Market From The Research Desk – Takeaways from the New England Real Estate Journal’s South of Boston Summit Two weeks ago, the New England Real Estate Journal hosted the 2018 South of Boston Summit, where people working in industries ranging from construction to politics congregated to discuss the current state of the South Shore market. Discussions included the continued growth of the multifamily sector, historically low-interest rates and their impact on select commercial &#8230; <a href="https://naihunnemanblog.com/2018/04/24/from-the-research-desk-takeaways-from-the-new-england-real-estate-journals-south-of-boston-summit/" class="more-link">Continue reading <span class="screen-reader-text">From The Research Desk &#8211; Takeaways from the New England Real Estate Journal&#8217;s South of Boston&#160;Summit</span></a> Tue, 24 Apr 2018 20:16:04 Z https://naihunnemanblog.com/2018/04/24/from-the-research-desk-takeaways-from-the-new-england-real-estate-journals-south-of-boston-summit/#respond NAI Hunneman <p><img data-attachment-id="1730" data-permalink="https://naihunnemanblog.com/2018/04/24/from-the-research-desk-takeaways-from-the-new-england-real-estate-journals-south-of-boston-summit/nerej-summit/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=676" data-orig-size="1000,500" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}" data-image-title="NEREJ summit" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=676?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=676?w=676" class=" size-full wp-image-1730 aligncenter" src="https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=676" alt="NEREJ summit" srcset="https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=676 676w, https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=150 150w, https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=300 300w, https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg?w=768 768w, https://naihunnemanblog.files.wordpress.com/2018/04/nerej-summit.jpg 1000w" sizes="(max-width: 676px) 100vw, 676px" /></p> <p>Two weeks ago, the New England Real Estate Journal hosted the 2018 South of Boston Summit, where people working in industries ranging from construction to politics congregated to discuss the current state of the South Shore market. Discussions included the continued growth of the multifamily sector, historically low-interest rates and their impact on select commercial markets, and current and future development projects. While every panel was full of pertinent and relevant information, the projected real estate trends and their potential impacts on the Massachusetts market, discussed by one of the panelists, provided a virtuous overview of what trends we can expect to continue going forward. Below are three central takeaways:</p> <ol> <li><strong>The Rise</strong><strong> of Coworking: </strong>Coworking space in Boston has been a hot trend over the past 12 months. In the greater metro area alone, coworking assets account for nearly 2.5 million square feet. This has been bolstered by the booms of such companies as WeWork and Workbar, who continue to eat up office space, most recently in the Back Bay. This trend has also led landlords to change the basis of their rental rates from per/sf to per/person, something worth monitoring as this industry continues to grow.</li> <li><strong>Live, Work, Play!: </strong>The heightened awareness of a healthy work-life balance has played a significant role in commercial real estate over the past few years. While traditional occupations such as banks and law firms provide little wiggle room for such an agenda, we’ve seen several start-ups and tech-based companies incorporate this into their brand. Such firms as Mimecast, an email security software company headquartered in Lexington, have built campuses to resemble forward-thinking companies like Google, where their workplace provides several amenities that have proven to increase the quality of their employee’s production. Such comforts include on-campus study/nap rooms, game rooms, fitness centers and so on. This trend has and will continue to grow as more and more industries begin to realize the many benefits of a healthy work-lifestyle equilibrium.</li> <li><strong>The Suburban Price Relief Valve: </strong>The city of Boston is unique in the fact that rental rates drop significantly merely an hour outside of the metro area. This attribute, known as the suburban price relief valve, has allowed several industries to headquarter all facets of their company in the Greater Boston area. For example, a pharmaceutical company can strategically position their research &amp; development department in the heart of the city, while paying a significantly lower rental rate for their manufacturing &amp; distribution facility only an hour away.</li> </ol> <p>The 2018 South of Boston Summit provided a very detailed overview of what is expected to transpire over the next couple of years in the real estate market. Included in this panel were central real estate trends projected to continue throughout the upcoming year. We believe that some of these trends, especially the ones outlined above, will play a substantial role in the landscape of Massachusetts real estate market for years to come.</p> https://naihunnemanblog.com/2018/04/24/from-the-research-desk-takeaways-from-the-new-england-real-estate-journals-south-of-boston-summit/feed/ 0 naihunneman NEREJ summit 2018-04-24 20:16 +00:00 2018-04-24 15:16 -05:00 http://naihunnemanblog.com/?p=1726 https://naihunnemanblog.com/2018/04/23/nai-hunnemans-leasing-advisory-services-group-completes-32995-sf-lease-at-1245-providence-highway-in-sharon/ Company News Industrial South Market Press Release commercial real estate industrial suburban NAI Hunneman’s Leasing & Advisory Services Group completes 32,995 SF lease at 1245 Providence Highway in Sharon Minnerly, Osvold &#38; Hannigan represent Landlord &#38; Taryn Wilson of NKF represents Tenant in transaction at Route 1 warehouse building BOSTON, MA &#8211; NAI Hunneman recently completed a 32,995 SF lease with Reiser at 1245 Providence Highway in Sharon, MA, bringing the building to 100% occupancy. The transaction will serve as an additional location for &#8230; <a href="https://naihunnemanblog.com/2018/04/23/nai-hunnemans-leasing-advisory-services-group-completes-32995-sf-lease-at-1245-providence-highway-in-sharon/" class="more-link">Continue reading <span class="screen-reader-text">NAI Hunneman’s Leasing &#38; Advisory Services Group completes 32,995 SF lease at 1245 Providence Highway in&#160;Sharon</span></a> Mon, 23 Apr 2018 15:00:44 Z https://naihunnemanblog.com/2018/04/23/nai-hunnemans-leasing-advisory-services-group-completes-32995-sf-lease-at-1245-providence-highway-in-sharon/#respond NAI Hunneman <p><img data-attachment-id="1727" data-permalink="https://naihunnemanblog.com/2018/04/23/nai-hunnemans-leasing-advisory-services-group-completes-32995-sf-lease-at-1245-providence-highway-in-sharon/01_22_17-1254_option-3_image1/" data-orig-file="https://naihunnemanblog.files.wordpress.com/2018/04/01_22_17-1254_option-3_image1.jpg?w=644&#038;h=304" data-orig-size="1844,903" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="01_22_17 &#8211; 1254_Option 3_Image1" data-image-description="" data-medium-file="https://naihunnemanblog.files.wordpress.com/2018/04/01_22_17-1254_option-3_image1.jpg?w=644&#038;h=304?w=300" data-large-file="https://naihunnemanblog.files.wordpress.com/2018/04/01_22_17-1254_option-3_image1.jpg?w=644&#038;h=304?w=676" class=" wp-image-1727 aligncenter" src="https://naihunnemanblog.files.wordpress.com/2018/04/01_22_17-1254_option-3_image1.jpg?w=644&#038;h=304" alt="01_22_17 - 1254_Option 3_Image1" width="644" height="304" /></p> <p style="text-align:center;"><em>Minnerly, Osvold &amp; Hannigan represent Landlord &amp; Taryn Wilson of NKF represents Tenant in transaction at Route 1 warehouse building</em></p> <p>BOSTON, MA &#8211; NAI Hunneman recently completed a 32,995 SF lease with Reiser at 1245 Providence Highway in Sharon, MA, bringing the building to 100% occupancy. The transaction will serve as an additional location for the leading supplier of food processing and packaging equipment currently headquartered at 725 Dedham Street in Canton.</p> <p>The NAI Hunneman South team of Cathy Minnerly, Ovar Osvold, and Sean Hannigan represented the Landlord, J.D. Murphy Real Estate, in the transaction, while Reiser was represented by Taryn Wilson of Newmark Knight Frank.</p> <p>“1245 Providence Highway, located right on Route 1 and just off I-95, offers great access and visibility,” said Minnerly. “The building, which is undergoing significant capital improvements including a new façade, new windows, and pavement striping, will provide Reiser with an ideal second location to complement their Canton headquarters.”</p> <p><strong><u>About NAI Hunneman:</u></strong></p> <p>Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 7,000 professionals and 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network, please visit <u>naihunneman.com.</u></p> <p style="text-align:center;">###</p> https://naihunnemanblog.com/2018/04/23/nai-hunnemans-leasing-advisory-services-group-completes-32995-sf-lease-at-1245-providence-highway-in-sharon/feed/ 0 naihunneman 01_22_17 - 1254_Option 3_Image1 2018-04-23 15:00 +00:00 2018-04-23 10:00 -05:00