Riverside Center Lands Another Sub-Tenant

NEWTON, MA-A property that relied heavily on subleasing during the prolonged regional recession has attracted yet another tenant via that route, with Marketplace Rewards taking 14,000 sf at Riverside Center in a three-year deal with the sub-landlord, Adobe Systems. The firm, according to GVA Williams broker John McDonough, is a “well-funded startup company” focused on discounted shopping and other promotional programs run for corporate sponsors.

McDonough negotiated the sublease on behalf of Marketplace Rewards. Adobe was represented by Mark Cote of T3 Realty Advisors, a commercial real estate services firm that specializes in assisting technology companies. Waltham-based T3 Realty and Cote are quite familiar with Riverside Center, having helped one tenant sublease the bulk of 330,000 sf the firm’s predecessor had committed to for 10 years just prior to the office market’s collapse that began in mid-2001.