In a released statement, the company emphasizes that it worked closely with Massachusetts Institute of Technology, its current landlord, in its lease termination. Akamai estimates that it will save as much as $8 million to $10 million a year by relocating.

Akamai is paying a one-time termination fee to MIT of $15 million for release from a total lease liability of over $110 million. The Technology Square office complex, located in the Kendall Square area, consists of a number of buildings with a total of over one million sf.

In the statement, Anne Columbia, of the Columbia Group Realty Advisors, Inc., who is advising Akamai on real estate strategy, says, "The market for office space in the area has changed dramatically since the company moved to Technology Square in 1999. This was a unique opportunity for both parties to benefit from a lease termination. Akamai wins in this situation by reducing costs, and the landlord wins by recapturing 500 and 600 Technology Square, two buildings which are uniquely suited to meet the expanding demand for bio-tech facilities in the area."