Wednesday Apr 16, 2014 by Jon Frisch - Vice President, T3 Advisors
The T3 Advisors Tech Tenant Report series is a commercial real estate resource for the local Boston-area technology community. Our goal is to empower the community with specific, relevant sub-market data for improved real estate decision-making. The report below is the second report in our series and highlights the Cambridge Squares.
Some high level insights shared from T3 Advisors:
Cambridge, and especially the Kendall Square area, are proving to be tight markets as many companies are now seeking the urban core of Boston. As reported by Kyle Alspach of BetaBoston recently this shift is due in large part to the lack of affordable, well-located space in Cambridge along the Red Line. This is clearly reflected in the pricing we are seeing in Kendall Square where larger tech tenants, as well as Biotech firms, are expanding their existing footprints.
With a general lack of availability in both Harvard and Central Squares, we will likely see these trends continue.
In a final note, we are thrilled to see our friends at Wistia and Backupify in their new spaces - Congratulations!
Download this report here.