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Airpath Relocates With Sublease Deal

WALTHAM, MA-Airpath Wireless Inc. signed a two-year sublease deal with Lionbridge Technologies. The company, a high-speed public Internet access solution provider, is relocating its offices from Toledo, OH to 8,000 sf at 950 Winter St.

By Naomi Grossman | Updated on August 11, 2004

WALTHAM, MA-Airpath Wireless Inc. is leasing 8,000 sf at 950 Winter St. here. The company, a high-speed public Internet access solution provider, is relocating its offices from Toledo, OH.Airpath signed a two-year sublease deal with Lionbridge Technologies. Roy Hirshland of T3 Realty Advisors LLC represented Airpath. Todd Myers, Airpath Wireless CEO, notes that the completely “plug-and-play” status of the space was appealing because the company was able to take advantage of existing infrastructure.

Lease rates for this deal were not available, but the average asking rent for office space in Waltham is about $22 per sf, although sublease deals tend to command a lower than average rate. Excess sublease space continues to drive some of the local office market’s vacancies. According to Trammell Crow Co.’s most recent statistics, the overall availability rate for the area, which includes both direct and sublease space, is at 35%. The vacancy rate for just direct space is at 24%.

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