2018 Colliers International 39th Annual Seminar - Open Mic

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
  5. None
  6. None
  7. None
  8. None
  9. None
  10. None
  11. None
  12. None
  13. None
  14. None
  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
  27. None
  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
  32. None
  33. SOUTH BOSTON BOSTON BROOKLINE BRIGHTON SOMERVILLE THE VILLAGE WORKS The

    CO-WORKINGRevolution CAMBRIDGE
  34. None
  35. SUBURBAN RENTS HIGH LOW

  36. overall, suburban rents will plateau

  37. None
  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

  49. None