LEXINGTON, MA-Ipswitch Inc. is leasing 18,686 sf of space at 10 Maguire Rd. The software developer, which is relocating from 81 Hartwell Ave., will use the space for its corporate headquarters.

Ipswitch, which also has locations in Atlanta and Augusta GA as well as Amsterdam, is subletting the space in the 291,000-sf building from Rational, which is in the process of downsizing and consolidating its space. The company has more than 150,000-sf of space in the area.

Neil Schneider of McCall and Almy represented Rational in the transaction while Glenn Rhuda of Mohr Partners represented Ipswitch. Details of the lease have not been disclosed.

Rhuda points out that Ipswitch is taking advantage of one of the best tenant market in years. According to CRESA Partners’ fourth quarter tenant’s report, the suburban market will continue to experience higher vacancy rates and reduced rents as it is driven by tech-based companies, which have yet to recover from the recession. Most recent market reports put the suburban area’s vacancy rates at about 26%, including sublease space. The current tenant’s market has property owners willing to make concessions and provide reduced rates for good credit tenants.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.