Berkshire-Hathaway and RealMassive Announce Commercial Data Partnership

Posted on: Friday, July 21st, 2017, under Announcements, Data, Media, RealMassive News.

Bob Samii

AUSTIN, Texas, June 13, 2017 (GLOBE NEWSWIRE) — RealMassive, commercial real estate’s first open and connected digital marketplace, will provide automated property listing and digital marketing exposure for all Berkshire Hathaway HomeServices Commercial Group’s (BHHS) represented commercial properties. Through an innovative API-based connection, BHHS’ inventory data will transfer automatically and in real-time to RealMassive’s national, open database. The connection also delivers BHHS’ brokers and their clients mobile-optimized visibility across multiple markets, search, and social channels.

“We’re excited and pleased to be the first commercial real estate brokerage service provider to partner this way with RealMassive and take the first steps toward real open access for commercial real estate property data. Open access to CRE property data is changing the way brokerage is done and at Berkshire Hathaway HomeServices Commercial Group we’re proud to be the first to automate with RealMassive. It gives us a real advantage for our clients, for our agents and for the business community.” – Michael W. Fields
“Our partnership with this industry giant and established household brand further separates us from traditional commercial data providers. Like us, the BHHS team is in constant pursuit of modern, digital business practices and we are excited about our future together. RealMassive’s focus on data automation, open access, and mobile solutions will help us both achieve our objectives as we support the growth and expansion of their commercial services division.” – Patrick Lashinsky, CEO of RealMassive

This announcement comes on the heels of significant advancements in data growth and market coverage for the Austin-based tech firm. Already presenting nearly four billion square feet of commercial property and land, RealMassive is in pursuit of tripling their property data inventory by the end of 2017.
To learn more about the details and benefits of this partnership, please email

About Berkshire Hathaway HomeServices Commercial Services:
Berkshire Hathaway HomeServices Commercial Services is among the few companies entrusted with the Berkshire Hathaway name, an enterprise worth more than $200 billion dollars today.
Our namesake, Berkshire Hathaway, was named the No. 1 company in Barron’s annual ranking of the world’s 100 most respected companies. This speaks to a commitment to business ethics and integrity over all else, as is consistently demonstrated by its chairman, Warren Buffett.
The company is built on the proven operational excellence, demonstrated integrity, and the reputation of Berkshire Hathaway – among the world’s most admired companies, according to Fortune’s 2012 ranking.

Simply put, the Berkshire Hathaway network of commercial real estate sales professionals share the strength of a solid universal business reputation that’s great for business.
About RealMassive:

RealMassive™ is commercial real estate’s open and connected digital marketplace, covering over four billion square feet of office, industrial, and retail space. The Austin-based SaaS firm provides CRE professionals with critical insights into the performance of their markets and portfolios while streamlining their marketing efforts. Users can list, search, and share data sets through an intuitive platform optimized for performance analytics, digital marketing, and inventory management. @RealMassive

NAI Hunneman Q2 Market Recap Now Available

Posted on: Thursday, July 20th, 2017, under Commercial Real Estate, Guest Authors, Research.

Bob Samiiby Liz Berthelette, Director of Research NAI Hunneman. Liz is a seasoned CRE researcher with a penchant for maps, graphs & data; providing insights on the local Boston market and beyond.
While build-to-suit activity propped up absorption, Greater Boston’s commercial real estate markets ended the second quarter with mixed results. Overall market conditions remain positive, however, growth has slowed to a more moderate pace.

Pharma R&D

  1. In the office market, vacancies were flat compared to last quarter as both the Downtown and Cambridge markets posted negative absorption. Biogen’s vacant sublease at 105 Broadway, Whole Foods’ relocation to Marlborough and the demolition of 145 Broadway led to higher vacancies in Cambridge. In the suburbs, the delivery of SharkNinja’s new headquarters in Needham and two large owner-user sales helped the office market post more than 400,000 square feet of demand. Despite a softening in fundamentals asking rents continued to increase; surpassing $33/SF metrowide in the second quarter.
  2. Given how tight Greater Boston’s lab market has been, any movement in either direction can impact fundamentals. This quarter, positive absorption in East Cambridge was driven by the delivery of the fully-occupied 50-60 Binney Street. Takeda’s now vacant space at 26 Landsdowne Street and former BIND Therapeutics space at 325 Vassar contributed to negative absorption in Mid Cambridge. In terms of construction Alexandria broke ground on 399 Binney Street and King Street Properties is moving forward with a speculative lab building at 828 Winter Street in Waltham.
  3. Overall demand remained positive in Greater Boston’s industrial market, with build-to-suit construction and owner-user sales bolstering absorption. That said, modest speculative construction and negative absorption in the north markets kept vacancies elevated compared to last quarter. In one of the largest deals of the quarter, 47 Brand purchased the 465,000-square-foot 140 Laurel Street in Bridgewater and plans to occupy the space, which has been vacant since 2009. Asking rents are nearing $9/SF metrowide, with Flex/R&D space within the Route 128 belt garnering top dollar from tenants.

Click here to access Market Recap.

Buying Commercial Real Estate? Here are 3 Advantages to Property Management’s Involvement in the Due Diligence Process.

Posted on: Thursday, July 20th, 2017, under Commercial Real Estate, Guest Authors, Real Estate Investing, Thought Leadership.

Bob Samiiby Liz Berthelette, Director of Research NAI Hunneman. Liz is a seasoned CRE researcher with a penchant for maps, graphs & data; providing insights on the local Boston market and beyond.
Purchasing a commercial property can be challenging; sometimes requiring a significant amount of due diligence in a short period of time. During this truncated timeframe, the new buyers need to complete a detailed investigation of the property to determine whether or not they remain satisfied with the asset and all its systems before closing the transaction.

Buyers can easily be overwhelmed and get lost in the details. NAI Hunneman’s COO & Director of Property Management, Steve Prozinski, looks at three key advantages to enlisting the assistance of a property management team during the due diligence period in order to ensure all the details are covered.

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    1. Create A Property Budget: With years of operating budget experience under our belt, our Property Management team is able to provide buyers with an unbiased budget based on expected asset performance. This has proved to be an invaluable tool as the buyer can review it against the proposed budget in the Offering Memorandum (OM).


    1. Thoroughly Review Leases: Our team performs an extensive analysis of all tenant leases; looking for any terms or options that could present a problem prior to closing the sale or upon assuming new ownership. We also review all leases and amendments to confirm the accuracy of information presented in the OM — ensuring the marketing materials represent reality. Finally,
      our team examines the effects of certain decisions, such as future operating costs vs. capital costs and how these decisions could impact the on-going escalations from the tenant.


  1. Examine Physical Conditions: Conducting an extensive review of a property’s physical conditions involves reviewing specific areas or building systems (i.e., HVAC or roof conditions) with third-party consultants and experts to help identify any hot button issues. Then our Property Management team creates a capital plan for the asset, which provides the buyer with detailed information on potential repairs required on the building.

Over the years, NAI Hunneman’s Property Management team has saved new owners millions of dollars by identifying discrepancies in property OM’s, as well as discovering capital items that need to be addressed prior to the close of sale.

Our team can act fast, especially within the tight time constraints of the due diligence process, and our clients have benefitted tremendously.

Steve Prozinski is NAI Hunneman’s Chief Operating Officer & Director of the Company’s Property Management Division, which oversees a portfolio in excess of 7 million square feet. For more information on our property management services visit our website.

A Breakdown of NAIOP’s Mid-Year Market Roundup

Posted on: Thursday, July 20th, 2017, under Commercial Real Estate, Guest Authors, Research.

Bob Samiiby Liz Berthelette, Director of Research NAI Hunneman. Liz is a seasoned CRE researcher with a penchant for maps, graphs & data; providing insights on the local Boston market and beyond.
This morning NAIOP Massachusetts hosted its annual Mid-Year Market Roundup. The expert panel presented to a packed-room of real estate professionals; covering topics related to the economy, local and national property markets as well as capital markets. A common theme throughout the presentation was “slower, but not slow.” Below are just some of the key takeaways from today’s event:

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Putting their heads together to boost productivity

Economic Overview – Hans Nordby

  1. In terms of a recession, it’s not if but when. Leading real estate forecasting and analytics firm; CoStar Portfolio Strategy, is predicting a recession will occur within the next three years. However, the impending downturn should be much milder than the Great Recession of 2009.
  2. Several economic indicators remain positive. Corporate profits have been positive in the last three quarters, the unemployment rate is at a 17-year low and real wage growth (accounting for inflation) is as good as it was in the previous two cycles.
  3. CRE prices are bobbling at new peaks. While prices are not rising, they aren’t necessarily falling either. Locally, the tide is going out very slowly in Boston so values should remain pretty solid.

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Cambridge/Lab Market – Evan Gallagher

  1. Biotech has seen a renaissance and Cambridge is the new Florence. Moreover, the epicenter of biotech (Kendall Square) is shifting and expanding to meet the needs of tenant demand.
    The market is seeing some consolidation in the pharmaceutical industry; as one company expands another contracts. Other challenges include the soft IPO market, FDA scrutiny and lack of talent.
  2. The Cambridge office market is cooling and the breakneck pace of rent growth is likely behind us. Tech companies have gotten squeezed by the lack of space and rising rents; leading tenants that remain in Cambridge to downsize by 20-35% upon renewal.
  3. While there has been some success in the suburban lab market, one major roadblock remains: hiring. The lack of amenities and transit, compared to Cambridge, make recruiting difficult.

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Retail – Andrea DeSimone

  1. Is this the death of retail? One might think so given the store closure watch list continues to grow, but it may not be time to hit the panic button yet. Leases will happen; they may just take longer and require more creativity.
  2. E-commerce continues to thrive, as its share of total retail sales remains on an upward trajectory.
  3. Innovative experiences, fitness, the restaurant scene and food halls are active retail sectors right now.

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Downtown Office – Ben Heller

  1. Over the last 10 years, the office market has experienced disruptive changes – driven by technology and changing workforce demographics.
  2. How has Boston evolved in the past decade? The city is now on the global HQ map, premium locations have shifted and the definition of core product has changed.
  3. Downtown office asking rents are 11% above the previous peak and vacancies are still near 15-year lows.

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Multifamily – Sue Hawkes

  1. The Boston multifamily market is still seeing price appreciation, but the pace of growth has slowed.
  2. Transit is hugely responsible for the success of multifamily product in more tertiary markets (i.e., Somerville and East Boston).
  3. Amenity wars are alive and well while some tenants are moving every year in order to take advantage of concession packages offered in the newest buildings.
  4. Affordability is a major factor in Boston; lack of affordable housing will most likely impact Boston’s labor market.

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Capital Markets – Edward Maher

  1. The capital markets are not as quiet as you think. While sales volume is down 18% year-over-year in Boston, these levels are still solid compared to previous years.
  2. Foreign investors perceive Boston to be one of the best places to do business. However, there is very little inventory available for purchase.
  3. The buyer pool is thinning and overall pricing is flat in Boston.
  4. Looking to the future, the action will be concentrated in the suburbs. With that said, the suburbs remain untested waters. Moreover, foreign capital remains “snobby,” and likely won’t stray too far from core, downtown assets.

Overall consensus on the Boston market was still positive despite some risks to the near-term forecast.