NON-PROFIT CONSTRUCTION EXPERTISE: IT'S JUST GOOD TO BUILD FOR THE COMMON GOOD.
Innovation is the hallmark of Suffolk Construction, one of the Boston Business Journal’s most admired real estate and construction companies... more
Boston Business Journal, BOSTON, MA, February 14, 2014 - Innovation is the hallmark of Suffolk Construction, one of the Boston Business Journal’s most admired real estate and construction companies. Other 2014 winners in this category include Cushman & Wakefield and Boston Properties.
Since its founding in 1982 by CEO John Fish, Suffolk Construction has grown to about 1,100 employees across the country.
In addition to Boston, the company has offices throughout the country. The construction management company works across all sectors, including commercial, education, science and technology, hospitality, retail and residential. In 2013, revenue was about $2 billion.
Kim Steimle, chief marketing officer, says the company’s success is rooted in its “Build Smart” tagline, which promises three things: innovation, people and community.
“We’re constantly testing, leveraging new ideas and technologies on behalf of our clients, and encouraging innovation in an industry that, frankly, has not worked to change and innovate as fast as some other industries,” Steimle said.
She said innovation extends to Suffolk’s people.
“We’ve completely revamped our learning and development program, which helps our people get better at technology and the knowledge that is needed for large, complex projects,” Steimle said.
Finally, Suffolk focuses on giving back to the communities in which it works, which Steimle said also helps the company “Build Smart.”
At Cushman & Wakefield, one of the largest real estate companies in the world, Boston is one of its busiest offices.
The firm’s New England operation, which also includes offices in Hartford, Manchester, N.H., and Providence, has about 20 million square feet of real estate under some kind of management. Cushman & Wakefield provides brokerage, sales and facilities management services. Worldwide, the New York City-based company has about 15,000 employees, with about 120 in New England.
“The Boston office and marketplace are very sought-after by investors,” said Louis Alvarado, senior managing director for New England. “The recovery from ’08 has been very strong.”
He said the Boston submarkets in the Back Bay, Seaport and Innovation Districts are among the hottest submarkets in the country.
“There’s been a lot of growth and a lot of demand there from investors,” Alvarado said. “Most institutional investors are looking to grow into Boston.”
Alvarado said all of the obvious core markets — New York, San Francisco, Washington, D.C., southern California — are strong, but Boston is probably strongest among them.
“Boston is right up near the top,” Alvarado said.
Also a winner in the most admired real estate and construction companies’ category is Boston Properties. Founded in 1975, Boston Properties is one of the largest owners, operators and developers of Class A office properties in the country.
Still headquartered in Boston, the company also has offices in New York, San Francisco, Princeton, N.J., and Washington, D.C. It has been public since 1997. In addition to Class A office properties, its portfolio includes one hotel, three residential and four retail properties.
On Dec. 31, Boston Properties, which is organized as a real estate investment trust, reported fourth quarter earnings of $197.6 million, compared to $192.5 million for the fourth quarter 2012. For the year, Boston Properties had revenue of $751 million, compared to $744 million in 2012.
Click here to read this story in the BBJ or click here to view other Suffolk stories in the News section of this site.