Michael Frisoli, with Richards Barry Joyce & Partners' Boston office, tells GlobeSt.com that the relocation from 117 Kendrick St. in Needham will allow the company to expand its operations by about 30,000 sf and give the firm a site close to its former office with ample parking and amenities. Upromise will move into the building in April and take a portion of the first, third and fourth floors in the 85%-leased property.
Terms of the lease were not disclosed but office rates in the Newton area generally range in the mid to high $20-per-sf range, market studies show. The transaction was handled for the tenant by Frisoli along with Jonathan Varholak and John Wilson, all with Richards Barry Joyce & Partners. Jay Nugent, with Jones Lang La Salle's Boston office, represented the landlord, Morristown, NJ-based Normandy Real Estate Partners.
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