Greg Larsen, senior vice president, Steve James, executive vice president/principal, and Jeff Becker, senior vice president of NAI Hunneman Commercial represented Delphi in the sublease deal. Wayne Spiegel, executive vice president/principal, and Bob Fitzgerald, executive vice president/principal of NAI Hunneman Commercial, represented Progress, which is subletting the space.
"Following Progress' acquisition of eXcelon Corp., it was determined that the 125 Summer floor, was a redundant facility that did not serve Progress' current operations," says Paul Rice, the company's director of corporate real estate.
The 22-story, 463,691-sf class A office building is located in the Downtown area. According to Spiegel, "While not the right real estate match for Bedford-based Progress, the space and its fit-up matched Delphi's current needs very well."
Lease rates fort his deal were not available, but the average asking rent for office space in the area is approximately $39 per sf. Sublease deals tend to command a lower than average rate.
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