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Boston Properties Inks 50,000-SF Office Lease

WALTHAM, MA-The deal gives National Grid short-term space while a new headquarters is being completed here.

By Joe Clements | Updated on February 21, 2008

WALTHAM, MA-Boston Properties has plugged another building gap here, complementing this week’s news that it has filled 77 CityPoint by signing National Grid to a lease of approximately 50,000 sf at 201 Jones Rd., better known as the Waltham Weston Corporate Center. The agreement is a short-term one, however, said to run for approximately two years.

“Yes, it has happened,” Jones Lang LaSalle managing director Phil DeSimone confirms to GlobeSt.com after he and colleague Keith Gurtler assisted client National Grid in negotiating terms. DeSimone would provide no details and calls to Boston Properties were not returned by press deadline, but National Grid spokesperson Jackie Barry tells GlobeSt.com that the company is taking a floor at 201 Jones Rd. while it awaits the completion of a new regional headquarters at the nearby Reservoir Woods in Waltham. The diverse energy sector company struck one of suburban Boston’s largest leases ever last year upon deciding to consolidate operations into 312,000 sf of space being constructed on a speculative basis by Davis Marcus Partners.

“It’s a bit of musical chairs,” Barry tells GlobeSt.com, with National Grid separately preparing to overhaul a critical facility in Northborough that will require employees there to operate from the firm’s Westborough headquarters. Some of the Westborough employees will be situated at Waltham Weston Corporate Center in the short-term space until they can shift to Reservoir Woods, she explains.

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