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WALTHAM, MA-BMC Software is leasing 51,000 sf at 400-2 Totten Pond. The high-ech company is relocating 230 employees to this site in a deal that is one of the largest headquarters relocation on Route 128 this year. Lease rates were not available, but the average asking rent for similar space is about $20 per sf.

The four-story, 76,931-sf building is located in Totten Pond Office Center, a three-building, 294,575-sf office park located near the Route 128 interchange in the area’s central business district.

Brian Hines, principal, Keith Gurtler, vice president and Kim Roop, senior associate at Trammell Crow Co. represented property owner, Crow Holdings, in the transaction.

The deal is an important one in a market that continues to experience vacancy rates of about 25%, according to Meredith & Grew’s most recent statistics. The rate has remained essentially flat for the past three quarters.

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