According to Donna Slattery, director of marketing for the company, onExhange occupied three separate offices on Reservoir Place in Waltham totaling 6,500 sf. Its new offices provide 10,000-sf of space in one location. "The pricing was good here," Slattery tells GlobeSt.com. "The location is also much better. It's closer to the city."

OnExchange signed its lease within the last two months and Slattery acknowledges that the company was able to take advantage of lower lease rates here. According to a recent report released by Spaulding & Slye Colliers International, availability in this area rose from 4.9% at the end of 2000 to 17.3% at midyear. Office asking rents fell by $12 to $20 per sf during the second quarter of the year.