Keith Gurtler, vice president and John Boyle, principal, represented Phase Forward in the site search and lease negotiations. Phase Forward will be subleasing the premises from BMC Software. Boyle and Gurtler worked with BMC's national real estate advisor, Scott Wegmann and Kevin Ray of Cushman & Wakefield of Houston, through the lease negotiations. This relocation represents a 60% increase in square footage for Phase Forward's corporate offices.
The three-story, 220,000 sf first-class office building is located near the Route 128/Winter Street intersection. Among the office park's other tenants are Microsoft, Intuit and Greylock Ventures.
Lease rates for this deal were not available, but the average asking rent for office space in Waltham is about $25 per sf, although sublease deals tend to command a lower rate.
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