Agfa was represented by SVP Peter Yannotta, SVP Robert Hoffmanand associate vice president Sam Horowitz from Chicago-based UGLEquis Corp. Griffith Properties--the landlord--represented itselfin the transaction.

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The company is remaining on a single floor--53,983 sf--reducingits footprint by two-thirds. The savings came from "reorganizationand more efficient use of space from improved operationalefficiencies," UGL tells GlobeSt.com. "The leasing team was able toextend with a smaller footprint prior to the existing leaseexpiration." UGL explains that the tenant had improved itsoperation to the point that they no longer needed all of theirprevious space, actually renting unused portions, which promptedthe reduction in their space.

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Agfa has been a tenant at the two-building property since itsinception in 1984, when it was owned by Agfa's parent companyAgfa-Gevaert. The Belgium company sold the property to a jointventure of Praedium and Griffiths Properties in 2004, but remainedas a tenant.

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The property consists of two buildings linked by a smallinterconnection. The buildings sit on 36 acres right off Route 128in the 128 North Boston submarket, where class A office space goesfor an average of $29.19 per sf, according to Cushman &Wakefield's Q2 2008 Boston Suburban Office Market Report. The priceof the lease is undisclosed.

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"UGL Equis was able to fulfill our space requirements in anextremely timely fashion, obtaining the very best terms, whichtranslates into significant cost savings for the company," DaveMerry, facilities manager of Agfa says, in a statement. "This leasesolidifies our commitment to the New England Region anddemonstrates the importance for Agfa to maintain a Boston-areapresence."

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