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NaviMedix Relocates in Sublease Deal

CAMBRIDGE, MA-In a deal that is indicative of the kinds of moves tenants are making in the current market, NaviMedix leases 43,400 sf of office space at 8 Cambridge Center. The company is subleasing space from Novell.

By Naomi Grossman | Updated on July 08, 2003

CAMBRIDGE, MA-NaviMedix is taking 43,400 sf of office space at 8 Cambridge Center. The company, which develops online solutions that connect physician offices and hospitals with their healthcare partners, is relocating from 99 Bedford St. in Boston. Lease rates for this deal were not available, but average asking rents for office space in Cambridge are about $32 per sf. Sublease deals, which are usually for shorter term, tend to offer tenants even better rates.

Mike Brown, principal and Will Foley, vice president of Trammell Crow Co. represented NaviMedix in the transaction while Ted Wheatley and Timothy Weinhold of The Staubach Co. represented Novell, which subleased the space. Novell is the sole tenant in the nine-story, 177,000-sf building which is owned by Boston Properties. The company has its executive headquarters in Waltham, MA and its corporate headquarters in Provo, UT.

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