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Cresa Boston
200 State Street, 13th Floor
Boston, MA 02109
617.758.6000 tel
617.742.0643 fax
Email
Map/Directions

Contacts

William Goade
Managing Principal
Email
617.758.6001 tel
Joseph Sciolla
Managing Principal
Email
617.758.6004 tel
Jack Burns
Managing Principal
Email
617.758.6010 tel
Robert S. Shulman
Managing Principal
Email
617.758.6008 tel
Edward Fothergill
Managing Principal
Email
617.758.6002 tel

Boston

  • Boston

    Back Bay Class A

    Supply
    12,834,932 SF
    Vacancy
    7%
    Absorption
    -92,872
    Avg. Lease Rate
    $56.10
  • Boston

    East Cambridge Class A Lab

    Supply
    5,319,090
    Vacancy
    7.4%
    Absorption
    44,527
    Avg. Lease Rate
    $60.00 NNN
  • Boston

    East Cambridge Class A Office

    Supply
    5,316,764
    Vacancy
    7.2%
    Absorption
    29,481
    Avg. Lease Rate
    $60.00
  • Boston

    Financial District Class A

    Supply
    34,389,443 SF
    Vacancy
    14.2%
    Absorption
    69,447
    Avg. Lease Rate
    $49.23
  • Boston

    Route 128 North Class A Office

    Supply
    4,986,186
    Vacancy
    13%
    Absorption
    62,398
    Avg. Lease Rate
    $27.00
  • Boston

    Route 128 West

    Supply
    19,200,000
    Vacancy
    16%
    Absorption
    100,000
    Avg. Lease Rate
    $35.75
  • Boston

    Route 495 North Class A Office

    Supply
    4,760,367
    Vacancy
    27%
    Absorption
    29,066
    Avg. Lease Rate
    $19.00
  • Boston

    Seaport / South Station

    Supply
    7,500,000
    Vacancy
    13.4%
    Absorption
    -73,630
    Avg. Lease Rate
    $54.14



Welcome
Thank you for visiting the web page of Cresa’s Boston office, the headquarters of Cresa LLC, North America’s largest corporate real estate advisory firm specializing in tenant representation.  Our experienced market specialists serve Massachusetts, Rhode Island, New Hampshire, and Connecticut.

Since our founding in 1985, our Boston office has offered clients an objective, stable business partner with no debt, increasing revenue, a growing talent pool, and a dedicated staff (two-thirds of our employees are equity stakeholders). During this time, we have been awarded numerous industry accolades as we strive to align tenants’ business plans with their real estate needs, consistently saving clients money and increasing their productivity. 


Our Advantage
 
Since we exclusively represent tenants, not landlords, we avoid potential conflicts of interest.  Our delivery of non-biased, integrated corporate real estate services—such as Strategic Planning, Project Management, and Transaction Management—distinguish us from traditional firms.  Our collaborative culture features 50+ professionals who work closely together and are also engaged in many public service efforts.

Our team of real estate advisors, project managers, strategic planners, analysts, and space planners listen to our clients’ needs, examine market conditions, analyze options, negotiate terms, and manage the design and construction of projects to customize the best occupancy solutions. Our clients, with portfolios ranging from 1,200 square feet locally to 12 million square feet globally, typically view us as an extension of their staff. 

Our Market

The Greater Boston area continues to have a strong mix of business activity, including a significant presence in education, healthcare, financial services, technology, biotech, medical devices, clean energy, and other professional services. 

Our office tracks local real estate market conditions in multiple submarkets—downtown Boston, Cambridge, Route 128 North, Mass Pike/Route 128 West, Route 495 North, Route 495 Central and Metrowest, the inner suburbs, Providence, etc.—with expert advisors in each area. 

Commercial real estate conditions are changing, and Greater Boston represents a bifurcated market, ranging from very tight vacancy in East Cambridge, the Back Bay, and the upper floors of towers, to substantial inventory in most outlying areas.  Overall, Boston, Cambridge, and some of the inner suburbs have seen significant leasing activity over the last year, resulting in lower vacancy rates and creating a shift to more of a landlord’s market. This is especially true in the hot markets cited above for requirements between 25,000-75,000 square feet.  Meanwhile, Route I-495 and many Route 128 markets still favor the tenant in both rental rates and availability.  Throughout the area, many landlords are interested in working with new and existing tenants on longer-term lease commitments in exchange for locking into rates that may be favorable to the tenant.  We provide real-time market data and interpretation to help tenants leverage their position in the market.  Please refer to the Boston Tenant's Guide and Submarket Tenant Guides for current market statistics. 

Our Company 
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Corporate Solutions, Portfolio Strategies, Location Planning, Lease Administration, Capital Markets, Mission Critical Solutions, and Facilities Services. With more than 58 offices, Cresa is the largest tenant representation firm in North America. 

 

People

Katie Barrows Advisor, Account Management
Gabrielle Beaudry Advisor
Peter Bechunas Principal, Project Management 617.758.6064
Patrick Boyle Associate, Project Manager 617.758.6057
Amy Braun Senior Advisor, Project Management 617.758.6027
Courtney Brummer Advisor, Account Management 617.758.6037
Jack Burns Managing Principal 617.758.6010
Kimberly Checkoway Advisor, Account Management 617.758.6089
Nicholas Chin Graphic Design Associate 617-758-6086
Cindy Cloran Controller 617.758.6076
John Coakley Vice President 617.758.6039
Christopher Crooks Principal 617.758.6028
Patricia A. Crow Principal
Paul Delaney Vice President 617.758.6016
Joseph Doyle Principal 617.758.6018
Jocelyn Driscoll Advisor, Account Management 617.758.6070
Barry K. Dubé Principal, Project Management 617.758.6074
John Fitzgerald Senior Advisor, Project Management 617.758.6035
Jennifer Foley Senior Advisor, Account Management 617-758-6063
Edward Fothergill Managing Principal 617.758.6002
Elizabeth Geary Associate 617-758-6067
William Goade Managing Principal 617.758.6001
Alexandra Haller Administrative Assistant 617.758.6046
Elizabeth Harding Principal, Account Management 617.758.6044
Matt Harvey Principal 617.758.6003
Emily Hedeman Associate 617.758.6066
Mitchell P. Jacoby Principal 617.758.6090
Shashi K. Jain Principal, Project Management 617.758.6005
Jennifer Jefferis Graphic Design Director 617.758.6050
Timothy J. Kelleher Senior Vice President 617.758.6007
Meredith King Associate
Michael J. Labonte Principal, Project Management 617.758.6084
Kelly Lagergren Principal, Account Management 617.758.6036
Brandon Leitner Principal 617.758.6040
Derek Losi Vice President 617.758.6021
Richard J. Lowe Principal 617.758.6030
Paul McCauley Senior Advisor, Account Management 617.758.6013
Shawn McDonough Principal 617.758.6092
Stani Miteva Advisor, Project Management 617.758.6015
Tim Myllykangas Principal 617.758.6026
Andrew Orpik Advisor 617.758.6077
Kristin Otto Principal, Account Management 617.758.6017
Kari Panutich Advisor, Project Management 617.758.6029
Dwight S. Patten Principal, Project Management 617.758.6012
Matt Quinlan Vice President 617.758.6033
Elizabeth Reny Administrative Assistant 617.758.6048
David S. Ross Principal 617.758.6088
Joseph Sciolla Managing Principal 617.758.6004
Robert S. Shulman Managing Principal 617.758.6008
Adam J. Subber Principal 617.758.6068
Daniel W. Sullivan Principal 617.758.6038
Maureen Young Principal 617.758.6006

News

Success Stories

Client Location Sq. Footage
Compuware Waltham, MA  68,145 
Congress Asset Management Company Boston, MA  15,038 
Electronic Marketing Company N. Andover, MA  9,180 
EMC Corporation Multiple Offices   
EMC Corporation Bedford, MA  320,232 
Excel Orthopedic Specialists Woburn, MA  35,170 
Fortune 100 Media Company Salem, NH  109,208 
Fortune 100 Media Company Quincy, MA  14,679 
Fortune 100 Media Company Chelmsford, MA  98,048 
Fresenius Medical Care Waltham, MA   
Global Manufacturer Louisville, KY   
GTECH - Atronic Headquarters Scottsdale, AZ  90,330 
Hinckley Allen Boston, MA  45,374 
Ipsen (Biomeasure Inc.) Cambridge, MA  62,626 
LPL Financial Charlotte  415,000+ 
Massachusetts Eye and Ear Infirmary Boston, MA  79,000 
MedHealth Solutions Andover, MA  9,730 
Medical Device Company Austin, TX   
MicroChem Westborough, MA  76,000 
National Healthcare Company Andover, MA  29,200 
Oracle Cambridge, MA  18,644 
OvaScience Cambridge, MA  6,000 
Pharmalucence, Inc. Billerica, MA  70,000 
Privately-held Technology Company Westborough, MA  52,315 
Rockstar New England Andover, MA  21,500 
Solectron Watertown, NY  76,660 
TALK School of Languages Boston, MA  8,244 SF 
Teletech Kalispell, MT  60,000 
The Bridgespan Group Boston, MA  28,612 
Trimble Cambridge, MA  16,402 
Valueclick Inc. Westborough, MA  15,810 
Workflow One Westborough, MA  116,000 
Yahoo! Hillsboro, OR  38,000 
Zipcar Boston, MA  46,000 

Subleases & Sales

Property Available Space Rental Rate
Sublease: Boston Innovation District
374 Congress Street
Boston, Massachusetts
4,698 5th Floor Negotiable
Sublease: Cambridge - 210 Broadway
210 Broadway
Cambridge, Massachusetts 02139
2,757 RSF High $40s/RSF Gross
Sublease: Oracle Building
1 Oracle Drive
Nashua, NH 03062
11,811 SF (1st Floor) $18.00/SF Gross
Sublease: Westborough 1-5 Sassacus Drive
1-5 Sassacus Drive
Westborough, MA 01581
116,000 SF (Portion of 1st Floor) $5.00 NNN
Sublease: Newton - 3 Bridge Street
3 Bridge Street
Newton , Massachusetts 02458
3,719 RSF (1st Floor) Negotiable
Sublease: Nashua - 9 Townsend West
9 Townsend West
Nashua, New Hampshire 03063
17,500 SF (1st Floor) $7.50/SF NNN
Sublease: Burlington - 14 New England Executive Park
14 New England Executive Park
Burlington, Massachusetts 01803
4,168 RSF (1st Floor) Negotiable
Sublease: Waltham - 77 City Point
77 City Point
Waltham, Massachusetts 02118
36,396 SF (4th Floor) $34.00/SF
Sublease: Southborough 132 Turnpike Road
132 Turnpike Road
Southborough, Massachusetts 01772
25,818 RSF (3rd Floor) Negotiable
Sublease: Andover - 200 Brickstone Square
200 Brickstone Square
Andover, Massachusetts 01810
9,683 SF (5th Floor) $10.50/SF Gross
Sublease: Waltham - 230 Third Avenue
230 Third Avenue
Waltham, Massachusetts 02451
3,897 SF (4th Floor) $20.00/SF
Sublease: Central Queens 88th Street
83-40 72nd Avenue
Glendale, New York 11385
23,900 SF $19.00/SF NNN

Cresa Boston Blog

  • 8/27/2014One Size Does Not Fit All
    Whether you are a mature company or a start up, real estate costs are sure to be one of the largest expenditures when it comes to your balance sheet. Often the focus will fall on the coupon rent that you are paying and some of the concessions you are able to negotiate from the landlord […] Read More
  • 8/19/2014Tenant’s leverage to renew: The costs your landlord will incur if you vacate
    Most people agree that renewing a lease and maintaining “business as usual” is the least disruptive course of action a business can take. What they don’t typically realize is how much leverage they have with their existing landlord. Tenants often don’t realize that if they were to relocate to a different location, their current landlord’s […] Read More
  • 7/21/2014Is the Recent Wave of Co-Working Spaces Sustainable?
    A few years ago, we met with a local entrepreneur who founded one of the first co-working concepts in downtown Boston. It was a wide open space with a few small conference rooms and dozens of desks that housed a variety of smaller tenants from tech startups to non-profits. We sat in one of the […] Read More
  • 6/11/2014No Negotiation Without Representation
    More than 250 years ago, not too far from where I currently sit, colonists rebelled against a King for taxing them, even though they weren’t receiving any real benefit or representation in return.  In commercial real estate, your landlord (the King) builds fees and expenses (taxes) into your rent, which you will pay over the course […] Read More
  • 4/7/2014Spring into Savings by Conducting Lease Audits Now
    After a cold and seemingly never-ending winter, spring is finally here. As a tenant, that means receiving your annual operating expense reconciliation statement from your landlord. A year earlier, your landlord started to bill you for your share of the estimated 2013 projected costs (i.e., cleaning, security, maintenance, etc.), and the reconciliation statement that you will […] Read More
  • 9/5/2013Top 10 Factors in Contact Center Location Strategy
    By Mitch Jacoby Having completed more than 25,000 seats of contact center projects in North America, Cresa’s Location Planning group has developed a keen understanding of vital factors driving successful contact center location strategy.  Contact centers (also known as “Call Centers”) can be a Business Process Outsourcer (BPO) which contracts agents to end-users for specific […] Read More
  • 7/17/2013Changing Commuting Patterns in Cambridge & Boston
    July 17, 2013 By John Coakley The recent real estate boom in Cambridge and Boston is attributable in large part to established tech companies either expanding their existing footprints or establishing a presence for the first time.  In either case, the motivation behind this urban focused land grab is the recruitment and retention of top […] Read More
  • 6/21/2013BOMA 1996 vs. 2010 – Who wins and loses
    June 21, 2013 By Jack Burns I recently participated in a CoreNet Global workshop about the new Building Owners Management Association (BOMA) 2010 standard. The BOMA Standard has been the generally accepted method for measuring office space for almost 100 years, and was recently updated for the first time in 14 years and released in January 2010. […] Read More
  • 3/20/2013What’s all the Fuss over the Workplace
    March 11, 2013 Jack Burns A few weeks ago Marissa Mayer, the new CEO of Yahoo!, decreed that all of the company’s remote workers must now come to the office and be “collaborative.” Based on the outcry, it seemed as if the world of the remote working was dying.  That is not the case.  There […] Read More
  • 3/18/2013Workplace Strategy: Long Term Effects
              Jack Burns, Managing Principal, Cresa Boston Originally posted March 11, 2013 I was listening to the radio on the way to work the other day and heard how the New England Journal of Medicine was releasing the results of a behavior study.  The results were taken from tracking and analyzing […] Read More
More from Cresa Boston Blog

Tenant Reports

2014 Mid-Year Reports

Downtown Boston

Downtown Office Tenant Report: Mid-Year 2014 

Cambridge
Cambridge Lab Tenant Report: Mid-Year 2014
Cambridge Office Tenant Report: Mid-Year 2014

Suburban
Route 495 Office Tenant Report: Mid-Year 2014
Route 128 Office Tenant Report: Mid-Year 2014

2013 Year-End Reports

Downtown Boston

Boston Office Tenant Report: Year End 2013

Tenant Reports

December 2013 – Happy New Year, Happy Old Year 

November 2013 – Connecting with Industry Trends: Highlights from our Connection Newsletter 

October 2013 – Lease Accounting Changes are Coming, and Tenants Need to Be Prepared 

September 2013 – Watkins Research Ranks Cresa #1 in Client Advocacy

August 2013 – As Summer Winds Down, Boston and Cambridge Markets Grow Hotter

July 2013 – Expense Audits: A Timely Way to Protect Tenant Rights

June 2013 - Best People Plus Best Place... It Adds Up to Your Best Space

May 2013 - In Search of "Cool, Creative Space": How Does Your Workplace Shape Up?

March 2013 (2) - Does Working at Home Work for You?

March 2013 - The Virtual Workplace Revisited: How to Overcome Challenges

February 2013 - Is Your Office Growing in Strange Ways?

January 2013 - The Research Is In: The Virtual Workplace Is Here to Stay

October 2012 - Integrating Services to Improve Efficiencies: Transaction Management & Project Management

September 2012 - Get Upfront about Project Management: Look Beyond Rental Rates to Realize Savings (Part 2)

August 2012 - Get Upfront about Project Management: Look Beyond Rental Rates to Realize Savings (Part 1)

July 2012 - Boston Office Market Forecast: Real-Time Market News

June 2012 - The Road Back Home for Jobs? More Companies Consider the Advantages of Onshoring

May 2012 – Celebrating 20 Years of Tenant Representation in New England; Kudos to Pioneer Bill Goade

April 2012 - How Can Your Brokers Represent Your Best Interests If They Are Beholden to Landlords?

March 2012 - Does Your Broker Really Represent Your Best Interests? It Starts with Transparency

February 2012 - Unemployment Rate is Falling, But Massachusetts Leads the Nation in Underemployment

January 2012 - New Year, New Look: New Opportunities for Tenants



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