One of the reasons the Menlo Park, CA-based Morgenthaler, signed on as a tenant at 545 Boylston St. was because the space was in move-in condition, Roy Hirshland, president, CEO and co-founder of T3 Realty Advisors, tells GlobeSt.com. "The space was already built out and it was a great opportunity for them to get the company up and running," he says of the B plus building, located in Copley Square. "The Back Bay is a relatively tight submarket, much tighter than the Financial District."
Hirshland declined to discuss the terms of the lease but said property in similar buildings in Copley Square generally rent in the high $20 pr sf range. The building also is home to a number of other businesses and foreign consulates, including Columbia, Cape Verde and Spain.
The Boston office is the fifth for Morgenthaler, which also has locations in Cleveland, Boulder, CO and Princeton, NJ in addition to its Menlo Park, CA headquarters. Hirshland and Mark Cote, managing director and co-founder of T3 Realty, represented Morgenthaler. Ken Manthorne with Grubb & Ellis' Boston office handled the transaction for Advanstar.
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