Colliers Boston Market Overview 6/11/2013

Slides from Colliers' Boston Market Overview, presented on June 11, 2013 at the Langham Hotel.

Transcript

1. Click to edit Master title style Boston Market Overview Tuesday, June 11, 2013 Peter Meade Chief Economic Development Officer, City of Boston Michael Phillips Principal & Chief Operating Officer, JAMESTOWN
2. Click to edit Master title style The New Boston
3. Click to edit Master title style Boston Grows Taller
4. Click to edit Master title style September 11, 2012 Jamestown Finds a Boom in Boston’s Back Bay Game Changers Converse Picks Boston for World HQ January 9, 2013 December 21, 2012 Goodwin Procter Latest to Head to Waterfront April 12, 2013 Ad giant Arnold to make former Filene’s building its HQ June 7, 2013 Accounting giant may lease offices in Innovation District
5. Click to edit Master title style The Boston Market Vacancy Rate: 12.5% Net Absorption: 395,000 SF Rents: Class A: $40 - $75 Class B: $25 - $40
6. Click to edit Master title style Tower Study | 29.5M SF Vacancy Rents 5.5% $40 to $75 9% 20th Floor
7. Click to edit Master title style Boston Submarkets $35 -$45 Seaport $45 - $75 Back Bay $40 - $65 Financial District $25 - $35 North Station
8. Click to edit Master title style Top 25 | 25% Active in 2013: Twelve (12) Total Requirements: 1.75M SF
9. Click to edit Master title style Tenants in the Market | 3.3M SF 350,000 SF 100,000 SF 70,000 SF 300,000 SF 60,000 SF 70,000 SF 75,000 SF 50,000 SF 35,000 SF = committed 150,000 SF 150,000 SF 35,000 SF
10. Click to edit Master title style 105,000 SF Copley Place Velocity 96,000 SF One Beacon Street 100,000 SF 200 Clarendon Street 50,000 SF One Financial Center 56,000 SF 200 Clarendon Street 29,000 SF 30 Winter Street 25,000 SF One Federal Street 60,000 SF One Financial Center 50,000 SF 200 Clarendon Street 65,000 SF 125 High Street 29,000 SF 200 Clarendon Street 40,000 SF 111 Huntington Avenue 28,000 SF 53 State Street 40,000 SF 281 Summer Street 45,000 SF 60 State Street 125,000 SF 10 Summer Street 32,000 SF 51 Melcher Street
11. Click to edit Master title style New Development: Seaport District Channel Center Fan Pier Pier 4 Two Harbor Street Seaport Square Bronstein Center
12. Click to edit Master title style New Development: North Station, Financial District and Back Bay 157 Berkeley Street One Franklin Street Lovejoy Wharf TD Garden 888 Boylston Street One Congress Street
13. Click to edit Master title style Market Forecast 8.6% 12.5% 10.2% -20% -15% -10% -5% 0% 5% 10% 15% 20% -3,000 -2,000 -1,000 0 1,000 2,000 3,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Vacancy Rate Future Absorption Absorption SF (in thousands)
14. Click to edit Master title style › Growth › Vacancy › Migration › Efficiency Outlook
15. Click to edit Master title style Boston Market Overview Tuesday, June 11, 2013 Peter Meade Chief Economic Development Officer, City of Boston
16. Peter Meade CHIEF ECONOMIC DEVELOPMENT OFFICER BOSTON REDEVELOPMENT AUTHORITY
17. 80 million square feet of new development added 21,618 units of housing 7,140 hotel rooms 9.4 million square feet of office space 11% of Boston’s total square footage Building Boston The last 20 years
18. $408 $353 $350 $365 $271 $234 $1.2 $1.7 $2.2 $2.7 $3.2 $3.7 $4.2 $150 $200 $250 $300 $350 $400 $450 $500 $550 $600 $650 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 In $Millions Net State Aid to Boston Net State Aid to Boston: 2000-2012 Source: Boston Assessing Department, Massachusetts Department of Revenue, BRA Research Division Analysis. In $Billions
19. $2.9 $3.0 $3.6 $4.2 $3.6 $4.2 $408 $353 $350 $365 $271 $234 $1.2 $1.7 $2.2 $2.7 $3.2 $3.7 $4.2 $150 $200 $250 $300 $350 $400 $450 $500 $550 $600 $650 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 In $Millions Net State Aid to Boston Taxes Derived from Boston Net State Aid to Boston: 2000-2012 Taxes Derived from Boston: 2000-2012 Source: Boston Assessing Department, Massachusetts Department of Revenue, BRA Research Division Analysis. In $Billions
20. $6 billion 15.7 million square feet 63 projects 6,827 residential units Building Boston Under Construction
21. $2.8 billion 7.4 million square feet 34 projects 4,545 residential units Total: $8.8 billion, 23.1 million SF Building Boston Breaking Ground in 2013
22. Click to edit Master title style Boston Market Overview Tuesday, June 11, 2013 Michael Phillips Principal & Chief Operating Officer, JAMESTOWN
23. Click to edit Master title style Thank you for attending! If you enjoyed this presentation, please join us for: Tuesday, June 25 Registration: 7:30 am – 8:00 am Program: 8:00 am – 9:30 am Breakfast will be served. Omni Parker House 60 School Street Boston, MA 02108 Register Online: www.ColliersRegister.com A panel discussion about the dynamics between higher ed and the community MODERATORS Kevin Phelan Colliers International Daniel Quinn Colliers International PANELISTS Kevin Casey Harvard University Lawrence Harmon The Boston Globe Steven Kadish Northeastern University Peter Meade City of Boston / Boston Redevelopment Authority John Nucci Suffolk University