"This was the epicenter of employee demographics so it was a win, win, win situation for each location," Jonathan Varhatak, with Richards Barry Joyce & Partners, tells GlobeSt.com of the company's move from offices in Boston, Waltham and Peabody. The three-story, class A building, Varhatak says, also gave ScanSoft visibility from Route 128 along with a location surrounded by Oracle, Nokia and Intergen. ScanSoft's lease, along with an as yet unannounced pending lease deal, will put the 120,000 sf building at close to 90 % occupancy.

Because the firm still had pending leases at two of its previous offices, owner the Gutierrez Co. also made concessions, including free rent, to entice ScanSoft into the long-term lease, Varhatak adds. Terms of that lease deal were unavailable but Varhartak says office rents in the Burlington submarket generally range in the low to mid $20 per-sf price range and most include considerable concessions.

"It just goes to further show that Burlington, which was always a secondary market to Waltham in the early 1990s, is today a recognized destination for the high-tech and investment community both across the state and abroad," says Varhatak, who represented the tenant. Gutierrez was represented by David L. Pergola and senior vice presidents John A. Carroll III and John E. Butterworth, all with Meredith & Grew.