ANNIVERSARY BY THE NUMBERS
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R E AA LL EES ST T F AI N A INA CL I IANLF OI R NM F A O TRI M A TSI I O RE AA T ET E& & FIN NC ON NN C E S 1I 8N7C2 E
County close-up: Plymouth Spotlight: Bridgewater
1 8 7 2
As the son of a specialist in Chapter 40B developments and a 40B developer himself, breaking down barriers to multifamily housing in Massachusetts runs in the family for Geoff Engler.
IN PERSON
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WEEK OF MONDAY, MARCH 7, 2022
RESIDENTIAL REAL ESTATE BY THE NUMBERS
REINVENTED OFFICES
RETURN ROADMAP
-1 percent The drop in the homeownership rate among Black Massachusetts households. See Week on the Web on page 2. Source: NAR
AWAIT WORKERS’ VERDICTS
$936.60 The per-square-foot sale price of the top home in this week’s Gossip Report. See page 10. Source: The Warren Group
16 percent The share of Massachusetts listings in 2021 affordable to a family making $75,000 a year. See Week on the Web on page 2. Source: NAR
$4.4 million
$59,035 The median household income for Black families in Massachusetts. See Week on the Web on page 2. Source: Census Bureau
10,707 square feet The largest home in this week’s Gossip Report. See page 10. Source: The Warren Group
2 percent The increase in the homeownership rate among white Massachusetts households. See Week on the Web on page 2. Source: NAR
0.18 acres The smallest property in this week’s Gossip Report. See page 10. Source: The Warren Group
JLL Boston relocated within 1 Post Office Square in January to a newly designed, 43,000-square-foot space that includes fewer private offices and more conference and meeting areas.
Collaboration Rooms Replace Desks with Views BY STEVE ADAMS BANKER & TRADESMAN STAFF
A
s the pandemic appears to recede, companies puzzling over how to revive dormant offices don’t have a proven roadmap to guide their real es-
tate decisions. But several common threads are emerging among Boston-area businesses that have recently relocated or signed leases: a further reduction in individual or assigned workspaces, an increase in
casual collaboration zones and meeting areas and a preference for moderately smaller footprints driven by a pending lease expiration. “The workplace is no longer a mandate. Therefore, it must be a magnet,” said Elizabeth Lowrey, a principal and director of interior architecture at Elkus Manfredi Architects in Boston. “If you want people to come to work, it’s got to be better than home.” Elkus Manfredi’s solution for its own headquarters in the Innovation and Design Building in the Seaport District included a redesign that ousted private desks along the window lines, with their coveted Boston Harbor views. Taking their place are new “Ideation Desks” that
sourced from The Warren Group’s Mortgage Market Share Module, Loan
Jump in Short-Term Leasing
How companies translate new office designs into space requirements and lease terms has long-term implications for commercial real estate. According to Moody’s Analytics, short-term office leases registered a sharp spike in 2021. Companies signing leases for one year or less accounted for 32 percent of transactions nationwide, up from 15 percent in 2019, indicating lingering uncertainty about companies’ perception of their future real estate needs.
COMMERCIAL INTERESTS
RAISING AWARENESS
Taunton Project May Be Scaled Back, but Will It Pay?
Freddie Mac Initiative Faces Hurdles
By Scott Van Voorhis | Banker & Tradesman Columnist
By Diane McLaughlin | Banker & Tradesman Staff
Wampanoag Casino Makes a Comeback Unless otherwise noted, all data is
serve as group collaboration areas, including whiteboards and a range of seating and workstations.
Landlords Seen as Key to Credit-Building
Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
Commercial Real Estate PAGE 3
Continued on Page 7
Banking & Lending PAGE 9
Image courtesy of JLL
The cheapest home in this week’s Gossip Report. See page 10. Source: The Warren Group