Akamai is sub-leasing the space from Novell, Inc. Eight Cambridge Center is located at the corner of Broadway and Galileo Galilei Way, two blocks from the company's current headquarters at 500 Technology Square in the Kendall Square area. The building is three years old and was developed and is owned by Boston Properties, Inc. Akamai's real estate advisor, Anne Columbia of The Columbia Group, assisted Akamai in structuring the lease transaction.
Paul Sagan, president of Akamai, says that the company wanted to remain in the area and notes that Akamai will be saving $9 million annually starting next year as a result of the move. The company anticipates moving this fall.
Cambridge Mayor Michael A. Sullivan stresses that the company's decision to remain in the city helps bolster its reputation as the "capital for the high tech and biotech industries" and helps insure the stability of the local market.
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