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DANVERS, MA-ESRI is leasing 14,458 sf in One Corporate Place at 55 Ferncroft Dr. The Redlands, CA-based company, a developer of GIS software, will use the space as its regional headquarters.

Glenn Rhuda, managing partner in the Boston office of Dallas, TX-based Mohr Partners, Inc. represented ESRI in the transaction while Flatley Company, which owns the building, was represented by Bill Bush, a vice president in the company. He declined to reveal to the lease rates that ESRI was paying at its previous location versus its new lease rate, but he notes that the company “did better on this space.” Average asking rents for office space in Danvers is currently about $20 per sf according to Trammell Crow Co.’s most recent statistics.

The deal represents a relocation for ESRI who, Rhuda says, was able to expand and get better space. Rhuda points out that ESRI was able to take advantage of “the best tenant market in years” adding that with the current market conditions it makes financial sense for tenants like ESRI to move.

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