The 144,000-sf office building is located in the Waverley Oaks Office Park, an eight-building, one million sf office complex. The park is situated near Routes 128 and 2 and the Massachusetts Turnpike.
Kerrigan notes that the deal was a "tremendous opportunity" for the Chinese school to relocate and expand into a first-class building. He adds that this deal, as well as several other recent leases in the building and at other properties owned and managed by Duffy Associates, "clearly demonstrates that successful transactions can be achieved in quality buildings with committed ownership, even in this challenging market."
The Waltham market continues to struggle with high vacancies. According to Trammell Crow Co.'s most recent statistics, the area had a 32.2% overall availability rate as of this past April, up from 30.2% in January.
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