Daniel Sullivan, Chris Crooks and Adam Subber of Cresa Partners Boston, a corporate real estate firm specializing in tenant representation, represented Cambridge Applied Systems in the transaction while Kerry Olson, formerly of CB Richard Ellis, represented property owner, National Development. Lease rates for this deal were not available, but the average asking rent for office space in the area is about $24 per sf.
According to Sullivan, Cambridge Applied was able to leverage the soft market conditions in securing very favorable terms in a "flight to quality." The company also chose the location because of its proximity to the MBTA and parkways, as well as full-service amenities such as a cafeteria and garage parking.
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