Meredith & Grew's Joe Flaherty and Tad Lee represented the property owner in the transaction, while Ascent Technologies was represented by Bob Richards, a partner at Richards Barry Joyce & Partners.
The building is located in the heart of Kendall Square. Lease rates for this deal were not available, but the average asking rent for office space in the area is about $26 per sf. The availability rate for office space in the area remains high with the most recent statistics from Spaulding & Slye Colliers indicating that it is at about 24%.
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