According to Chris Curley, a vice president at commercial brokerage firm NAI Hunneman, Sophos was looking for space with expansion capability, but there was "such a glut of available space" that Sophos had "at least a half dozen very good options to choose from. It is still a tenant's market," he tells GlobeSt.com.

Curley would not disclose the lease rate for this deal but he notes that the market rate here for sublease space has dropped from the mid $20s per sf a year ago to the upper teens per sf now. Curley maintains though that he sees the market starting to stabilize but he adds that a qualified tenant interested in company space for a sublease will still have some room for negotiation.

Curley, along with Jim Boudrot, a vice president at NAI Hunneman, and Steve James, a senior vice president at NAI Hunneman, represented Sophos in the transaction. The sublessor, Bowstreet Inc., was represented by Andy Majewski of Insignia ESG.