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BY COLLEEN N STAFF WRITE
TRADESMA
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SPECIAL FOCUSES
January 13 - 2014 Mortgage Outlook
The money for your real estate purchase, development, or business expansion is out
there. Learn how to navigate the new landscape to get it.
February 10 - Residential RE Outlook
SEMINAR SPONSORSHIP OPPORTUNITY

Industry experts discuss key issues affecting the residential real estate market andoffer their insights about prospects for the Massachusetts real estate industry this year.
February 24 - Growth Explosion
A look at the Seaport, and the repercussions inside and outside a particular area
when there’s a growth explosion.
March 10 - Top Lenders
Saluting the top producers of 2013 in the real estate lending industry.
March 17 - Wealth Management
Investors have learned hard lessons.
April 14 - Green Building
Where are the biggest benefits, and when does ROI kick in?

Further target your buying audiencethrough our regular focused editorial
sections:· Business & Lending· Commercial & Industrial· CRE Insider· Residential Real Estate· By the Numbers· Official Records
INSIDETRACKTHIS MONTH: TRANSIT AND DEVELOPMENT | NEXT MONTH: BETTING ON CASINOSGreater Boston CRE
Market Continues
Heating Up
Tenants absorbed 1.4 million square
feet of Greater Boston commercial officereal estate in the third quarter of 2013,
the greatest such amount seen in morethan six years, according to new reportfrom Richards Barry Joyce & Partners.
Vacancies, despite the delivery of 1.1 million square feet of space, still decreased
from 14.1 percent to 13.8 percent asconditions continued to notably tighten
in the Back Bay, the Seaport District, andfor Financial District Class A space, thereport noted. Owing to the ever increasing
size of inventory, Boston occupancy levelsof 63.5 million square feet are at thegreatest such level ever, more than fivemillion square feet occupied at the heightof the “tech boom” in 2000.
In Cambridge, the influx of technology
giants continued as Facebook and Twittercommitted to East Cambridge space,joining Amazon, Google and Microsoft,
having entered the market within thepast six years, giving to further speculation a landlord may decide to proceedwith construction on a speculative tower,
despite heavy demand for space from thebiotechnology industry.
Outside the core, optimism is also
spurred on by positive absorption 13 of
the last 14 quarters along 128, positive
absorption in the long beleaguered 495
North submarket, where rents, thoughwell-below the level seen in other areas,
have risen to their highest since 2009.
That report notes that while landlords
have enjoyed many quarters of increasing rents in Back Bay, Cambridge andthe Seaport District and are now seeing
increases along Route 128, the balanceof the market continues to see little or norent growth. As build-to-suit projects permeate the market, a vast majority of the
projects spurred on by existing local firms
reflect consolidation and a net decreasein used space, in many cases using strategies to materially decrease the amountrequired on a per worker basis.

Learn About New
Energy CodeNAIOP Massachusetts will be hosting aseminar on the new statewide energy
code – the International Energy Conservation Code (IECC 2012) – adopted overthe summer by the commonwealth. The
new code represents a 20 percent increase in energy efficiency requirements
and will affect significant renovations,as well as new development. The event,which features Commercial Construction
Consulting Inc. President James Kirby and
CBT Architects Principal David Hancock– will be held Oct. 9 at the Atlantic Wharf
Conference Center at 280 Congress St.
in Boston. Registration starts at 7:15
a.m. For more information, email info@
naiopma.org.

INSIDEGreen Machine

Bruce Percelay, chairman andfounder of The Mount Vernon Co.,is almost finished with his Green
District project in Allston. But
he’s not done making his mark.
What it all means for the future of
Allston and Boston.

CREInsider
The

SEPTEMBER 30, 2013

A BANKER & TRADESMAN COMMERCIAL REAL ESTATE SPECIAL SECTION

B1

HUB AND SPOKEREVERSE COMMUTES
GAINING STEAM
With Increasing Transit Options, Suburbs
Attracting Companies, Workers
BY STEVE ADAMSSPECIAL TO BANKER & TRADESMANT

he term “reverse commute” traditionally has been associatedwith an easy drive to work, but
it’s rapidly gaining a new meaning
in the form of growing mass transit
options for Massachusetts workers.
Ridership on
shuttlebuses
run by the state’s
11transportation
management associations increased
37 percent in 2012 to
5.7 million, aided bynearly $14 million in
PATRICK SULLIVAN
contributions fromthe private sector. Federal grants
awarded this year
topping $2.6 million
also support the
shuttles that connect business parks
and neighborhoods
with MBTA lines.
MELISA TINTOCALISThe shuttles fillgaps in the state’s mass transit network.
They’re increasingly sought by companies in suburban office parks trying to
attract young city-dwelling talent, as
well as Boston and Cambridge companies that have moved to the suburbs andwant to retain employees.
“Some of the smaller biotech startups
that have incubated in Cambridge havebranched out into the suburbs for larger
lab space. These shuttles are a tool forthese companies that are moving toareas where public transit isn’t as abundant,” said Patrick Sullivan, director ofpolicy and outreach for the 128 BusinessCouncil.
New shuttles starting this fall enable
Red Line riders to reach the Hartwell Avenue business district in Lexington andconnect Natick and Wellesley neighborhoods to Woodland Station on the GreenLine.
The 128 Business Council coordinates shuttle buses from the Red Line’s
Alewife station to business districts in
Lexington, Needham and Waltham. Rid-

Ridershipon shuttle buses run by thestate’s 11 transportation
management associations
increased 37 percent in 2012 to
5.7 million, aided by nearly $14
million in contributions from theprivate sector.
ership has increased an average of 12
percent in each of the last three years,
Sullivan said. All but one of the Alewife
shuttles are self-sufficient, with commercial property owners providing the bulkof the funding not paid by fares, Sullivan
said.

Grant Helping

Aided by a $123,000 grant, the newest
route launched on Sept. 10 serves the
Hartwell Avenue business corridor in
Lexington. It provides door-to-door pickup at seven commercial properties, mostof which are approximately a half-milefrom the nearest MBTA bus stop.
The shuttle is designed to increase themarketability of roughly 820,000 square
feet of vacant office and lab space in
Lexington, said Melisa Tintocalis, thetown’s economic development director.
The Job Access Reverse Commute
grants are an offshoot of the Welfare
Reform Act of 1996, and are designed tomake mass transit commutes more convenient for low-income workers.

PRIVATE SHUTTLE INVESTMENT

Page B2The
demographic
profile of riders has changed over theyears to include more high-tech workers,
said Michael Lambert, deputy administrator of the Massachusetts Departmentof Transportation.
“Certainly the most visible part of itis young people from Somerville andCambridge going to high-tech jobs. The
goal is you’re meeting a broad array ofneeds, which is public transportation atits best,” Lambert said.
College students and reverse commuters to MetroWest are expected to beamong the heaviest users of a new shuttle bus connection to Woodland Stationin Newton on the Green Line.
An online survey garnered more than
800 responses, many requesting reverse
commute shuttles, said Ed Carr, administrator of the MetroWest Regional Transit Authority.
“The thing that people want most isthat connection to the Green Line at
Woodland because that opens up reverse
commute opportunities,” Carr said.
The new route is modeled after the
Route 9 shuttle that travels from Woodland Station to the Staples headquarters in Framingham. When the service
launched in 2010, organizers expectedthat would be used primarily by Metrowest residents headed into Boston via theGreen Line.
“What we found is the majority of
the riders are reverse commuters,”
Carr said. “They’re people coming from
Brookline and Newton and Boston who
are transit-savvy, but they can’t use thecommuter rail.”n

ANNUAL SHUTTLE BOARDINGS

2011

$14.4
Mil.

Extreme Makeover

How to turn a brownfield into abrightfield.

2012

$13.7
Mil.

Page B6

2011

4.1
Mil.

2012

5.7
Mil.

May 12 - Community Bank Heroes
EVENT SPONSORSHIP OPPORTUNITY

Spotlighting community bank leaders who stand out from their peers and help makethe communities they serve better places for all.
May 19 - Bank ComplianceNew regulation implementation is on the way.
June 16 - New Media Marketing

WITHINCRE INSIDER

On a monthly basis,
our team of experts
bring you the latest
commercial real estate
news, exposing thedrama behind the deals
and how they impact
the Massachusetts
economy.
n

Delivered at the end of each of month.

MONTHLY BONUS
DISTRIBUTIONSEMINAR SPONSORSHIP OPPORTUNITY

January

Leverage Twitter, Facebook, LinkedIn, podcasts, blogging and online videos tomaximize your marketing potential.

New England Mortgage Expo, BankWorld

March

July 14 - Women of FIRE

NAIOP MA seminar, mortgage brokers

EVENT SPONSORSHIP OPPORTUNITY

April

Saluting women who stand out professionally and personally, advancing theirprofessions and enriching the lives of others – winners of Banker & Tradesman’s2013 Women of Finance, Insurance and Real Estate (FIRE) awards.
July 21 - Insurance Trends
Title insurance changes, errors & omissions.
August 11 - Fast 50
Recognizing the 50 fastest-growing mortgage lenders in Massachusetts.
August 18 - Business Profiles
We will help tell your story.
September 15 - Credit Union Heroes
EVENT SPONSORSHIP OPPORTUNITY

May

500 copies

NEFMA spring conference, Real Estate Mass Spring
Conference, NAIOP - Suburban Transfomation Bus TourJune

300 copies

New Media Marketing, Social Media Breakfast,
New York Bank Board Conference, commercial realestate brokers, mortgage brokers

July

300 copies

Women of FIRE Awards, Investors

September 22 - Legal Trends

September

December 15 - Attracting Business with Tax Breaks
Which side’s ROI calculation is right? How does it affect the real estate market.

300 copies

Business Profile clients

AugustNovember 17 - Continuing Education
Required continuing education – who needs what and when; resurging online
education; and Dodd-Frank changes are coming.

300 copies

The Great New England Credit Union Show,

Honoring credit union employees who epitomize commitment to member service
and volunteerism in their communities.

October 12 - B&T's Best
Banker & Tradesman’s annual reader poll results issue, honoring the BEST vendors
in the real estate and financial markets.

500 copies

300 copies

Commercial Real estate brokers, mortgage brokers

500 copies

Banking New England conference, Legal Conference
Credit Union Heroes, NEMBC (MMBA)

October

300 copies

NEFMA fall conference, NAIOP MA seminar

November

300 copies

ABX Architecture Boston show, Real Estate
Massachusetts Annual Conference, Building Owners

December

300 copies

Commercial and Residential RE brokers

3 WAYS TO EXTEND YOUR REACH
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The Warren Group’s successful model for industry specific conferences serves professionals
and service providers throughout New England. Sponsoring and exhibiting opportunities areavailable. Our events bring hundreds of real estate and finance professionals together for
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departments and managers.
2014 Events include: Residential Real Estate Outlook, New Media Marketing, Community
Bank Heroes, Women of FIRE and Credit Union Heroes.

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