The four-story 77,500 sf building was acquired by Pilot Putnam in 2000. The company says it has seen increased interest in the remaining available space at Blackstone Square, part of which it attributes to its ability to build to suit new tenants with a turnaround time of 60 to 90 days. The building is located near Harvard University and the Massachusetts Institute of Technology, one block from Memorial Drive and the Charles River in Cambridgeport. It is a renovated brick and beam mill building built in the late 1800s and early 1900s. Lease rates for this were not available but the average asking rent for office space in Cambridge is about $29 per sf.
Mike Brown, John Boyle, Ted Lyon and John Hines of Trammell Crow Co. represented property owner, Pilot Putnam Avenue LLC in the transaction while Mark Carangelo of the Codman Co., Inc. represented Bluefin Robotics. The company, which was founded in May 1997, is moving over 60 people to its new location. Bluefin was formed from a core team of the Autonomous Underwater Vehicles Laboratory at MIT.
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