2018 Colliers International 39th Annual Seminar - Open Mic

Transcript

1. Colliers International’s 39th Annual Trends in the Real Estate Market Seminar Boston Convention & Exhibition Center January 11, 2018 CANDID Conversations. HONEST Opinions. REAL Topics.
2. WELCOMING REMARKS TOM HYNES, CO-CHAIRMAN
3. CELEBRATING A 50-YEAR CAREER RICHARD DEWOLFE Present 1980s
4. for the 2018 Boston Real Estate Market TOM’S TOP 10 of
15. CANDID Conversations. HONEST Opinions. REAL Topics.
16. SETTING THE STAGE BILL LYNCH, Suburban Brokerage LAUREN VECCHIONE, Urban Brokerage
17. of transactions & current demand Relocations to Boston: Suburban or Out of State
18. BOSTON NEWCOMERS
19. war for talent ecosystem of like minds millennial population density
20. ALI E well SUBURBAN BOSTON FINANCIAL DISTRICT BACK BAY SEAPORT
21. THE SUBURBS: a melting pot of generations
22. P
23. WESTFORD Campus BOSTON Executive Briefing Center
24. Boston Lincoln Weston LEXINGTON Winchester Burlington WATERTOWN WALTHAM BEDFORD “REVERSE MIGRATION” Newton Woburn Medford
25. 1. Flight to Quality 2. Growth
26. 45 Network Dr Burlington 80,000 SF 20 CityPoint B-T-S Waltham 110,000 SF 9 Technology Dr Westborough 250,000 SF Bay Colony Corp. Ctr. Waltham 85,000 SF expansion 250,000 SF total in park
28. JOBS
29. Tenants in the Market
30. EARLY STAGE BIOTECH BIG PHARMA
31. THE RISE OF THE SPEC SUITE 60 State Street BOSTON SUCCESS STORY: I. Buildout complete II. 1st tenant toured III. Signed LOI in a few days IV. Signed license agreement overnight V. Moved in w/in 7 days VI. $11/SF over LL’s initial underwriting
33. SOUTH BOSTON BOSTON BROOKLINE BRIGHTON SOMERVILLE THE VILLAGE WORKS The CO-WORKINGRevolution CAMBRIDGE
35. SUBURBAN RENTS HIGH LOW
36. overall, suburban rents will plateau
38. Up 88% since 2011! High $80s in some towers! URBAN RENTS class A class B Increases since 2010:
39. 121 Seaport Boulevard [SEAPORT] Hub on Causeway [N. STATION] PIER 4 [SEAPORT] CAMBRIDGE… Low $80s NNN (existing) Low $90s NNN (future product) lab: Mid $80s gross (existing) $90 gross (future product) office: 88 Seaport Boulevard [SEAPORT] Mid to High $40s NNN – High $60s to Low $70s Gross (Tenant Improvements = $75 - $100/SF)
40. Winthrop Sq. Garage Millennium Partners URBAN SPEC? 2 Drydock Avenue | SKANSKA 321 Harrison Avenue | CIM & Nordblom
41. Urban Investment Sales 160 Federal Street &100 High Street Center Plaza 10 St. James Avenue 55 Seaport Boulevard 100 Northern Avenue 93 Summer Street $518/SF & $677/SF $815/SF $760/SF $492/SF $868/SF $1,700/SF
42. 2018 predictions
43. Stony Brook Office Park $283/SF 266-275 Second Ave $393/SF The Center at Corporate Drive $271/SF
44. class A
45. SPOTLIGHT ON LEASING M O D E R A T O R : JAM E S E L C OC K | President P A N E L I S T S : K E IT H PE RS K E | Workplace Innovation K RIS T IN BL OUNT | Urban Brokerage E V AN GAL L AGHE R | Cambridge & Life Sciences C AL E B HUD AK | Suburban Brokerage
46. SPOTLIGHT ON CAPITAL MARKETS M O D E R A T O R : AARON JOD K A| Director of Research P A N E L I S T S : C HRIS C HOU| Development & Consulting Services T HOM AS W E L C H| Capital Markets D OUG JAC OBY| Investment Sales C HRIS T OPHE R S OW E R| Multifamily Investment Sales
47. KEYNOTE ADDRESS JACK BRENNAN Chairman Emeritus & Senior Advisor
48. PLEASE JOIN US FOR A COCKTAIL RECEPTION THANK YOU