Commercial Real Estate News
IONA Renews 30,000 SF for US HQ
Beverly Ford
GlobeSt.com
November 4th, 2005
WALTHAM, MA-A global high tech firm will keep its US headquarters here under a six-year early renewal. IONA will occupy the entire fourth-floor wing of 200 West St.
Chris Crooks, with Cresa Partners Boston, tells GlobeSt.com the firm, which provides integration solutions for mission-critical IT environments, will stay in 30,000 sf of office space in the 248,048-sf, four-story building. The company originally leased 60,000 sf when it moved into the property in 1999 but is now downsizing.
Crooks says the Dublin-based firm renewed its lease one year ahead of schedule in order to take advantage of favorable market conditions and lock into a five-year lease extension. "They liked the building and wanted to stay there.” Crooks notes that IONA moved into the building shortly after construction on the class A structure was completed.
Terms of the lease were not disclosed, but Crooks says property of a similar caliber here leases in the low $30-per-sf range. Crooks and colleagues Dan Sullivan, and Shawn McDonough handled lease negotiations for the tenant. Owner Boston Properties was self-represented by Stacey Baker and David Provost.
Chris Crooks, with Cresa Partners Boston, tells GlobeSt.com the firm, which provides integration solutions for mission-critical IT environments, will stay in 30,000 sf of office space in the 248,048-sf, four-story building. The company originally leased 60,000 sf when it moved into the property in 1999 but is now downsizing.
Crooks says the Dublin-based firm renewed its lease one year ahead of schedule in order to take advantage of favorable market conditions and lock into a five-year lease extension. "They liked the building and wanted to stay there.” Crooks notes that IONA moved into the building shortly after construction on the class A structure was completed.
Terms of the lease were not disclosed, but Crooks says property of a similar caliber here leases in the low $30-per-sf range. Crooks and colleagues Dan Sullivan, and Shawn McDonough handled lease negotiations for the tenant. Owner Boston Properties was self-represented by Stacey Baker and David Provost.