Chris Crooks, with Cresa Partners Boston, tells GlobeSt.com thefirm, which provides integration solutions for mission-critical ITenvironments, will stay in 30,000 sf of office space in the248,048-sf, four-story building. The company originally leased60,000 sf when it moved into the property in 1999 but is nowdownsizing.

Crooks says the Dublin-based firm renewed its lease one yearahead of schedule in order to take advantage of favorable marketconditions and lock into a five-year lease extension. "They likedthe building and wanted to stay there." Crooks notes that IONAmoved into the building shortly after construction on the class Astructure was completed.

Terms of the lease were not disclosed, but Crooks says propertyof a similar caliber here leases in the low $30-per-sf range.Crooks and colleagues Dan Sullivan, and Shawn McDonough handledlease negotiations for the tenant. Owner Boston Properties wasself-represented by Stacey Baker and David Provost.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 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.