Harvard School Takes 55,000 SF

BOSTON-In a deal that seems to have made all involved happy, Harvard University’s School of Public Health is leasing 55,300-sf of space at the Landmark Center. The space was formerly occupied by Agency.com.

According to Mark Cote, of T3 Realty Advisors, who represented Agency.com in the transaction, Harvard began talking to Agency about subleasing the space from the interactive media company. The company had taken all this space in the dotcom heyday but no longer needs it. The Abbey Group, which owns the building, came along, Cote tells GlobeSt.com, and allowed the Agency to buy out of its lease, on which it had eight years left. “It worked out well for all three parties,” he says.

Cote would not disclose how much the Agency paid but he points out that the company saved close to $15 million in the deal. He would also not disclose the lease rate on the space but notes that Harvard is paying less than the Agency was paying.

The Agency.com is moving to Boylston Street in the Back Bay where OmniCom, its parent company leases space.