Sue Donovan, with CB Richard Ellis' Boston office, tells GlobeSt.com that the agreement is the firm's first direct lease with landlord Rreef. BigBand Networks has leased 62,500 sf as a subtenant in the property for several years. The lease also put the two-story, 104,822-sf office building at 100% occupancy and made the Redwood City, CA firm the property's largest tenant.
Clint Baer, with Mohr Partners in Minneapolis who represented BigBand, tells GlobeSt.com that the company looked at eight different locations before deciding to stay in the building. A favorable leasing arrangement with the landlord made that possible, he says.
Terms of the lease were not disclosed but Donovan says similar space in the Westborough market generally leases in the mid-teens to the low $20s per sf.
Donovan and Joseph Fallon, also with CBRE, handled the leasing arrangements for the landlord. Jason Ruda, with Mohr Partner's Boston office, assisted Baer in negotiating the deal for BigBand Networks.
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