Maryann Gilligan Suydam, senior vice president of park owner Equity Office, tells GlobeSt.com that the firm, which has been at the same location for the past 10 years, chose to remain in the building because of its competitive leasing rates and long-term relationship with Equity. Although terms were not disclosed, Suydam says the average rent for the nine-building, 594,000-sf property, is in the mid-$20-per-sf price range.
The office center, which is set on a 50-acre wooded campus at the junction of Route 3 and 62 in Bedford, is about 93% occupied in a submarket where occupancy rates range from 75% to 80%. Tamie Thompson and Matthew Daniels of Spaulding & Slye and Richard Berzine of Richard Berzine & Co. Ltd. represented Interactive Data Corp. Duncan Gratton, managing director of leasing and Greg Clancy, director of leasing for Equity, represented the owner.
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