WESTFORD, MA-NetScout Systems is signing an early renewal for its headquarters space at 310 Littleton Rd. here. The network and service solutions company leases the entirety of the 175,000-square-foot class A office. The property was built-to-suit for NetScout in 2001.

The lease was set to expire in three years, so the renewal was for 13 years, adding 10 years to its current lease. Some reasons for early renewal are simply to lock in current rates and/or renegotiate those rates. However, Gutierrez Co., the landlord, and NetScout did not comment on the new lease rates. The current price per square foot average in the North 495 submarket for class A property is $18.83, according to Cushman & Wakefield's Q2 report for 2010. That is in comparison to a lease signed at 2001 rates, which were not revealed, however NetScout's 10K filing in May reported "total rent expenses under the [current] lease" was $6.5 million in 2010, $6.8 million in 2009 and $5.2 million in 2008; all for fiscal years ending March 30^th of the respective years.

CresaPartners' Joe Crooks, Joe Doyle, Adam Subber and Dan Sullivan repped NetScout in the transaction, while Gutierrez represented themselves. Doyle, a principal at CresaPartners, tells GlobeSt.com, "It is a win-win deal. For the landlord, Gutierrez keeps an excellent tenant and NetScout gets to stay in a premiere real estate park in the area."