Spaulding & Slye Colliers senior vice president Curtis P. Oberg and assistant vice president Eric B. Foster negotiated the transaction on behalf of the sublessor, Mindspeed, which develops semiconductor networking solutions for communications applications. Trammell Crow Co.'s vice president Thomas Kent represented Network Intelligence.
"Network Intelligence has experienced steady growth over the past two yearsand requires additional space for the expansion of core services in development, sales and customer support," says Paul McDermott, the company's chief financial officer. "The new 24,627 sf space offers an attractive location for our expanding operations, and is equipped with large QA and customer support labs as well as large training facilities."
The 137,045 sf first class office building was built in 1990 and is part of the two-building Westwood Executive Center, a 286,049-sf office complex owned by Meditech and located near the Route 128/Route 109 interchange. The complex features 3.5 parkingspaces per 1,000 sf of space, a cafeteria, fitness center and on-site property management. Among the building's other tenants are Hitachi, Lojack and Meditech.
Lease rates for this deal were not available, but the average asking rent for office space in the area is about $20 per sf. Sublease deals tend to command a lower than average rent.
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