Elias Demakes, with Meredith & Grew's Boston office, tells GlobeSt.com that the information technology company relocated its headquarters from 19 Main St. in Watertown to the Arsenal under a sublease with athenahealth Inc. because of the area's amenity-rich surroundings and the firm's desire to be near its client base in themetro area.
Demakes, along with John Carroll III, also with Meredith & Grew, worked with Jack Kerrigan and Steve Cook, of Grubb & Ellis, to negotiate the sublease on behalf athenahealth, Inc. Kerrigan and Cook represented Liaison International. Originally built in 1861 and refurbished in 2000, the property contains more than 700,000 sf offirst class office, bio-tech and lab space along with amenities thatinclude sports facilities, on-site daycare and property management andconcierge services and a location that is within a five-minute drive to Harvard University, Boston College, the Massachusetts Institute of Technology and Boston and Northeastern universities.
Since last year, the Arsenal has taken on several major tenants, including Boston Sports Club and, BR+A Consulting, both of which lease 58,000 sf in the building. When Harvard bought the building for $160 million nearly four years ago, the former military base, largest speculative office redevelopment in the Greater Boston area, was nearly 50% vacant. By last fall, 90% of the property was occupied by a mix of large and small businesses.
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