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Phase Forward Stepping Up to 77 CityPoint

WALTHAM, MA-The 165,000-sf commitment fills the speculative class A office building being developed by Boston Properties.

By Joe Clements | Updated on October 17, 2007

WALTHAM, MA-In a six-figure deal that will secure the remaining portion of 77 CityPoint prior to the office building’s completion here, medical software company Phase Forward has ended a space search throughout suburban Boston very close to where the quest began earlier this summer. According to industry sources, the company will take approximately 165,000 sf in the six-story, 200,000-sf building, which is being erected on a speculative basis by Boston Properties just two miles from Phase Forward’s current home at 880 Winter St.

The deal is said to be for at least 10 years, and reportedly averages in the low $40-per-sf range. Besides guidance from in-house staffers Jason Fivek and David Provost, the landlord is being represented by DTZ FHO Partners principal Brian Hines, while colleague John Boyle is advising Phase Forward in its regional search. Neither broker returned phone calls, nor did officials at Boston Properties and Phase Forward, making it unclear whether the lease has been finalized. Even if not, a multitude of sources insist Phase Forward has committed to take the remainder of the property and has been actively negotiating terms. “It’s over,” one says of the competition for the requirement, which was brisk and far-reaching.

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