Developers in the nation’s hottest life sciences market face a new slew of challenges as tenant requirements have evolved in the past few years. Companies fueled by billions in private and public funding are rapidly expanding, forcing developers to buy into Boston’s struggling office market to undertake conversion projects, and more mature pharmaceutical companies seeking manufacturing requirements are driving competition in the competitive industrial market. 
The rapidly changing market dynamics have forced developers to tread carefully into speculative development, consider tenants’ unique infrastructure needs and weigh competition with e-commerce players’ deep wallets, experts said on Bisnow’s Boston Life Sciences Forum this week.Boston’s life sciences pipeline, which doubled in the past decade to 30M…  Read the full story here. | | |
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Construction Products Company Moving Headquarters From Cambridge To Atlanta | | | | |
AMC Renews Lease For Massive Boston Cinema Amid Turbulent Year For Movie Theaters |  | | Boston’s largest movie theater is committing to 10 more years at its downtown home. AMC Boston Common, a 19-screen movie theater at the base of the Millennium Place residential tower at 175 Tremont St., executed two five-year lease extensions through July 2031, according to Moody’s. The move comes at a tenuous time for cinemas as the properties face a year of closures and movies increasingly are being released on streaming services.  A spokesperson for landlord Millennium Partners confirmed AMC had made a long-term lease commitment but declined to disclose further details. AMC didn't respond to a request for comment Wednesday. The theater, a former Loews Theater absorbed and rebranded by AMC, occupies approximately 135K SF, and its 20-year lease was… Read Full Story |
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Breaking The Cycle: Why 3 CRE Changemakers Have Dedicated Decades To Ending Homelessness |  | | Though Brian Kavoogian has tallied many victories in his role as a managing partner at Newton-based National Development, one of the most gratifying moments of his career took place a long way from his office. Working with Heading Home, a Boston-based housing nonprofit, Kavoogian, his… Read Full Story |
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Japan’s Extreme Workplace vs. Sweden’s Liberal Flexibility: How Work Culture Shapes The Future Of The Office |  | | In Japan, there is a word for death through overwork, karōshi, given such deaths are not infrequent among workers. In Sweden on the other hand, paid parental leave is 16 months, and the idea of your boss checking on whether you were working hard enough would be severely frowned upon.  The two countries represent the two ends of the spectrum when it comes to white-collar office work. We tend to think of office and workplace culture as an inevitable natural state, but Japan and Sweden show how these distinct cultures are forged by centuries of unique cultural, political and military events. As has almost every advanced economy across the world, both have been hit by the impact of the coronavirus, exposing these workplace cultures to the need to adapt and work remotely, and there has been a consequent knock-on effect for the office market of big cities like Tokyo and Stockholm. This is where it gets interesting for the real estate professionals of countries like the UK and U.S. The office markets of both countries have remained resilient compared to other big cities like New York and London, providing some lessons for real estate pros in those markets.  Japan: ‘Working from home makes that effort more difficult to assess.’ Japanese working culture is high-pressure. It is, of course, important not to generalise an entire nation, but statistics bear out that a culture of extremely long hours in the office remained entrenched right up to the onset of Covid-19 — and beyond. Government statistics show that workers tend only… Read Full Story |
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The Innovators: BrainLit |  | | In this series, Bisnow highlights people and companies pushing the commercial real estate industry forward in myriad ways. Click here to read Q&As with all the innovators Bisnow has interviewed so far. Before the crisis, health and well-being in the workplace fell into the buzzy amenity category. These days, they are considered crucial. While many landlords have rushed to revamp spaces to encourage office workers' return, most people are continuing to work remotely. In New York City, for example, only 10% of companies have come back from remote work even as the ramped-up vaccine rollout and loosened restrictions have brought back some of the city bustle.  Now the greatest threat for office real estate owners is not that their buildings could be breeding grounds for infection but that workers will have come to love working from anywhere so much that many won't return at all. Workers are now asking why they should go into the office when they get the job done just as well from home, said Niclas Olsson, the CEO of Swedish company BrainLit AB. Olsson said BrainLit has an answer to that, in the form of BioCentric lighting that recreates the effects of natural lighting in indoor environments. Lund-headquartered BrainLit was founded by Tord Wingren, one of the inventors of Bluetooth technology, and offers what the company describes as the world's first lighting system that is individually tailored to a person’s unique biology. Within the collection of products is UV disinfection lighting that can eliminate pathogens, alongside personalized lighting… Read Full Story |
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