The move enabled Genesis to nearly double the size of its office. The company, which took the space for a six-year term, is occupying the second floor of the 38,600-sf building. The deal fully leases up the building. According to Grubb & Ellis's most recent statistics, the area's vacancy rate continues to remain at a high of about 25%.
Bruce Lee of Lee Partners of New England represented Genesis in the transaction while Mark Carangelo and Brian Morrissey, both formerly of the Codman Co., represented property owner, Duffy Associates.
Carangelo tells GlobeSt.com that the average asking rent for similar space in the area is about $14.50 per sf.
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