The company says the move--which reportedly increases the company's space from 6,000 sf to 20,000 sf--is due to its rapid expansion. Demantra recently secured $16 million in funding. "The relocation of our headquarters is a milestone for our company, enabled by our recent funding, which we received as a result of our rapid client growth and the strength of our marketing and supply chain solutions," says Bill Seibel, CEO of Demantra. "This move signifies not only our stability but also our forward momentum and ability to recruit local talent, despite a volatile economic market."
The deal is important in a market that, due to its reliance on high tech companies, was hit hard by the recession. Waltham's overall available space is still at a high of 32.2%--up from 30.2% in January--according to Trammell Crow Co.'s most recent figures. Sublease space continues to be a driving force in this market. Without available sublease space the area's vacancy rate is 20.4%.
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