Cadence uses the space as its Eastern US headquarters. Jonathan Davis, CEO of the Davis Cos., emphasizes that Cadence's decision to maintain its headquarters at this location is a "credit to the building's ability to meet its needs and the strength of the Merrimack Valley high-tech corridor."
The Route 495 market continues to struggle to fill much of its space, although excess sublease space is now driving a good portion of the vacancy. According to Spaulding & Slye Colliers most recent statistics, the overall availability rate--which includes both direct and subleases space--for the area is at 33%, but the vacancy rate--which covers only direct space--is at 14%.
The two-story building is located near Routes 3 and 495 in the heart of the area's high-tech corridor. It was built in 1985 and has been occupied by Cadence since 1993. Cadence was represented by brokers Neil Ross and Brooks Murphy of the Staubach Co. The building is managed by Davis Management Corp., an affiliate of the Davis Cos.
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