uLocate Takes 5,362 SF at 111 Speen St.

FRAMINGHAM, MA-A tenant on a sublease looking for a short-term renewal got exactly what it wanted when it signed on to take 5,362 sf of office space at a five-story, 110,000 sf class A office building here. uLocate Communications, which provides wireless location-based services for consumers and small businesses, had been subleasing the space at 111 Speen St. for about a year.

“It was really about getting the right term,” Chris Tosti, executive vice president with Richard Ellis/Whittier Partners’ Boston office, tells GlobeSt.com of the short-term lease he helped to arrange for the tenant. The building’s owner, CrossHarbor Capital Partners LLC, agreed to uLocate’s request and offered the firm the short term arrangement the company was looking for.

“The important thing for uLocaste was to do a short term because they were in a growth mode,” says Tosti. “The landlord gave them that opportunity, which dovetailed with uLocaste’s growth plan. It made sense for them to stay with all the infrastructure they had in place.”

The agreement, the terms of which were not disclosed, kept the property at 100% occupancy and left uLocate on the rental rolls with tenants that include EH Publishing, Performance Plus, and Clinical Assistance Programs. In addition to Tosti, the tenant was represented by Robert Walles, Robert McGuire, and Matt Flaherty, all of CB Richard Ellis/Whittier Partners. Ron Friedman of Richards Barry Joyce & Partners LLC, represented the owner.