After 21 Years in Harvard Square, ARC Moves to 17,705 SF in Cambridge Center

The firm, which specializes in educational, athletic and biotechnology facilities, will move into 5 Cambridge Center this fall under a 10-year lease arrangement that will give the company room to accommodate growth. Peter Bekarian, vice president with Spaulding & Slye Colliers, who negotiated the deal along with colleague Debra Gould for owner AEW Capital Management LP tells GlobeSt.com that the lease brings the 13-story property to 88%-occupancy. ARC was represented by Spaulding & Slye Colliers vice president John Osten.

Although terms of the lease were unavailable, Bekarian said the property, along with a second building at 4 Cambridge Center also owned by AEW, rent in the low to mid-$30 per-sf price range. The two buildings are part of a 2 million sf, multi-use complex known as Cambridge Center. Bekarian says since the beginning of the year, about 101,000 sf has been leased in the two buildings, which total about 400,000 sf.