Boston
One of the eight Alpha cities in the United States recognized by the GaWC5 study, Boston is an important centre for government activities, professional services and finance, as well as being a world leader in innovation.
A hub for biotechnology the Milken Institute has rated Boston as the top life sciences cluster in the United States and as such receives more funding than any city from the National Institutes of Health.
Tourism is also a major contributor to the overall economy of the city.
The location
One of the oldest cities in the country, Boston lays on the North Atlantic Coast.
Boston has been home to a number of key events in US history that include the Boston Tea Party and the Boston Massacre, and it is this rich history that attracts so many visitors to the city.
It is named after the town in Lincolnshire, England from where several prominent colonialists had set sale before landing on American soil.
There are 23 official neighbourhoods in the city leading to the Boston often being described as ‘a city of neighbourhoods’.
Neighbouring areas - price comparisons, per person per month
The prices given below are the minimum to maximum average cost for serviced offices, per person per month, derived from our Sales Team's knowledge.
Area - Indicative price range
Downtown Boston: $800 – 1,500
Back Bay: $800 – 1,200
Charlestown: $600 – 900
South Boston: $700 – 1,500
Looking for an office in Boston
The office market in Boston is currently very strong with a vacancy rate of around 10% across the city, the lowest rate for many years.
While an additional three million square feet of office space is planned for development the current competition for space means that prices are on the increase.
This has been driven by a continuing positive absorption rate, most notably in the CBD and the Seaport District areas.
Costs
• Prices for serviced office space in Boston range from $600 up to around $1500 per person, per month
• Depending on location and requirements prices will vary, so it’s always worth getting in touch with us so we can explain more
• When looking at serviced offices keep in mind that these costs usually cover a variety of amenities and as such can offer great value for money
Office sizes
• Office providers in Boston supply a wide range of solutions and sizes of space ranging from single workstations up to entire suites that easily house up to 20+ employees
• Instant Offices are able to accommodate most enquiries, from one person through to 100 or more depending on the specifics
Five things you probably didn’t know about Boston:
1. Different coloured lights on top of the Old John Hancock Building provide the daily weather forecast; the building also contains 13 acres of glass Approximately 15% of workers in Boston City walk to work, the highest figure of all major U.S. cities
2. Approximately 15% of workers in Boston City walk to work, the highest figure of all major U.S. cities
3. At 90 feet below the surface, the Ted Williams tunnel is the deepest tunnel in North America
4. The water supply for the city from the Wachusett and Quabbin Reservoirs is so pure it doesn’t require filtration
5. The first ever phone call was made in Boston by inventor Alexander Graham Bell on 10 March, 1876
Why choose Boston?
One of the positive effects on Boston’s economy is the 350,000 students that attend the colleges and universities in the area that include Harvard and the Massachusetts Institute of Technology (MIT). With such an abundance of talent available a number of industries have been attracted to the city to be close to that talent pool.
It is one of the most economically powerful cities in the country and the world and especially ideal for companies looking to connect with the best minds in science, technology and industry. Even though it is a city known for its innovation, there is a sense of old-world ambience about the city making it a most pleasant place to live and work.
A closer look at Boston
The following areas are the most popular in which to rent office space in Los Angeles:
Downtown Boston
• Home of the central business district
• Mainly made up of low-rise buildings, interspersed with modern skyscrapers
• Financial District located near the Government Center and Chinatown is home to a number of company headquarters including State Street Bank and Eastern Bank as well as strong presences from major players such as Bank of America and Merrill Lynch
Back Bay
• Situated next to Downtown and famous for its rows of Victorian brownstone homes
• Fashionable shopping district
• Home to a number of prominent landmark buildings that include New England’s two tallest buildings, the John Hancock Tower and the Prudential Center
• The Hynes Convention Center is located here, one of three major convention centers in the city
South Boston
• One of the oldest neighbourhoods in the whole country
• Home to the ‘Innovation District’, an area by the waterfront that is popular with coworking spaces rented by technology and creative companies
• Also home to the two other major convention centers in the city, the Seaport World Trade Center and Boston Convention and Exhibition Center
• The South Boston Waterfront Area also contains a number of hotels and restaurants and has seen much investment in recent years
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants. Email our team or call us and we'll be delighted to help you.