"48 Woerd Avenue provides Imagitas with an excellent location," says Jonathn Varholak, a partner with Richards Barry Joyce & Partners, in a prepared statement. "The building is located close to Boston and also has easy accessibility to the region's major highways." Imagitas shares the building with Olympus DNT, a technology testing facility--who renewed their 70,000-sf space in February, as previously reported by GlobeSt.com--and Boathous Group, Inc., an advertising agency. The property sits right next to the Charles River and has easy accessibility to the Mass Pike. The space is used for office and R&D. The deal was brokered by Jonathan Varholak and Ron Friedman, vice president of RBJ.

The 128 West office market had a poor first quarter with negative absorption of 17,636 sf, according to Cushman & Wakefield. This was caused partially by 23,869 sf of space at 1601 Trapelo Rd. here, becoming available. Rental rates have remained steady--with 128 West class A space commanding the second highest rent per sf--according to Cushman & Wakefield, at an average $36.11 per sf. The second quarter has brought caution to the market in Boston and other cities as well leading to lease renewals like this one, which shows as no growth in the market. The 128 West market, like much of the Boston metro area, has no new construction set to become available until 2009.