SCORE!; 321k SF Needham Lease
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|Ending the year with a blockbuster deal, FHO announced yesterday that partner John Boyle brokered a 321k SF lease renewal for Parametric Technology Corp in Needham.|
|John tells us that PTC decided to stay in the three-building campus at 140 Kendrick St because the location?s convenient for its knowledge-based workforce that commutes from places like Cambridge and Back Bay. By using space more efficiently, PTC is able to take 60k SF less yet still have room to grow. Most important, says John, landlord Boston Properties gave them a ?very favorable package.? This deal, when paired with the 322k SF Dassault lease up the road at 175 Wyman St in Waltham a few months ago, reflects the ?vitality? of well-located, quality buildings in the Central Rt. 128 market. But while rents in these Class A buildings are stabilizing, it seems Class B's are still struggling.|