Thomas Palmer, Jr. writes a good article in this weekend’s Sunday Globe about new office towers being planned, approved (and hopefully built) over the next several years.
It’s an encouraging sign, of course, because a developer isn’t going to put a shovel in the ground unless he’s sure he’s going to fill his building with paying tenants.
Everyone (I don’t know exactly who I mean) should be focusing on keeping current employers in Boston – try to keep the Fidelity’s and Bank of America’s in downtown, not going out and blowing wads of cash on encouraging new companies to move here.
Fidelity is moving 1500 employees to Rhode Island, this month.
In my business, keeping past clients happy is important, because it helps get their business, in the future. It also costs a lot less for me to keep in touch with a past client, then go out to find a new client.
Am I making a good analogy?
Anyway, I hope we get the new buildings built, and successfully fill them with tenants.
On a related note, One Federal, a 38-story, 1.1 million square foot property in the financial district, just sold for $514 million. That’s an encouraging sign, as well. Seems as though smart people see a great future for our city.
More information: Why are office towers on the rise again in Boston? – By Thomas C. Palmer, Jr., The Boston Globe
Tishman Speyer closes on One Federal acquisition – The Boston Business Journal