Market Search Ends Next Door for StreamServe Inc.

BURLINGTON, MA-StreamServe Inc. toured the market but ended up back where it started. After a three-month search, the firm found just what it was looking for in the building next door.

“The location they were in worked well for them but the dynamics of the space didn’t work,” Joseph Crowley, with Meredith & Grew’s Boston office tells GlobeSt.com, noting that the company considered several options within a one-mile radius of its existing building. “We did a market tour but it just so happened that the space that worked best for them was just across the parking lot.”

The company, which is currently headquartered at 1 Van de Graaff Dr., found that 3 Van de Graaff Dr. could accommodate its expansion plans and signed a five-year lease to take 14, 017 sf in the 291,077-sf, class A office building. The new space, which is 40% larger than its current location, will accommodate the company’s projected growth over the next 18 months, Crowley says.

Specifics of the lease were not disclosed but Crowley notes that class A space in the Burlington area generally leases in the low to mid $20-per-sf range. Crowley represented the tenant, while Stephen Murphy and Jason Levendusky with CB Richard Ellis’ Boston office represented the owner American Landmark III LLC.