The value of the lease was not disclosed, but rent in the building starts at $18 net per sf, making the Edwards & Angell deal worth a minimum of $820,170 net.
This was the second new lease in the 19-story, 275,000-sf class A office/retail building in less than two months. The other deal was with financial holding company Wachovia Corp., which vacated the space Edwards & Angell now occupies to lease the entire 23,381-sf 18th floor of the building. This site is Wachovia's regional headquarters and houses 112 employees.
Wachovia signed for 10 years, making the total value of the lease at least $4.21 million net. The two new leases bring the occupancy of the building to 75%.
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