5 Speen Street - Framingham, MA
RBJ brokered a lease renewal for IDC and IDG at 3 and 5 Speen St. The company leased all of 5 Speen St. and two floors of 3 Speen St., for a total of 127,303 s/f of office space. The buildings are located in the Point West Office Center. IDC is a subsidiary of IDG, a technology media, events, and research company.
John Lashar, Michael Joyce, Paul Leone, Richard Bradbury and Brian Cohen of RBJ represented the tenant in the lease negotiation. The landlord, Carruth Capital, LLC, was represented internally.
In Boston's Back Bay, RBJ brokered a lease renewal for IDG's corporate headquarters at One Exeter Plaza, located at 699 Boylston St. The 15,451 s/f of office space are on the building's 15th floor and the penthouse. The building landlord, Boylston Properties, was represented by Jones Lang LaSalle.
"IDC and IDG are market leaders in IT media and research and RBJ is very pleased to have brokered these two headquarters leases," said John Lashar, partner, RBJ. "RBJ's Suburban and Downtown teams worked in conjunction with our Capital Markets Group and Consulting Services to ensure complete support of IDC and IDG during the transactions."
Office Market Statistics - Downtown Boston and I-495 West
According to research by RBJ, the Downtown Boston submarket consists of 67,184,000 square feet of office space and was 11.4% vacant, as of the quarter ended September 30, 2009. The I-495 West submarket consists of 17,242,000 square feet of office space and was 19.1% vacant, as of the quarter ended September 30, 2009. [source: Richards Barry Joyce & Partners' "officeSTATus - Fall 2009"]
About International Data Corporation (IDC)
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For more than 45 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com
About International Data Group (IDG)
International Data Group (IDG) is the world's leading technology media, events, and research company. IDG's online network includes more than 450 web sites spanning business technology, consumer technology, digital entertainment and video games worldwide. IDG also publishes more than 300 magazines and newspapers. Media brands are in more than 90 countries and include CIO, CSO, Computerworld, GamePro, InfoWorld/TechWorld/TecChannel, Macworld, Network World, and PC World. The company's lead-generation service, IDG Connect, matches technology companies with an audience of engaged, high-quality IT professionals, influencers, and decision makers.
IDG is a leading producer of more than 750 technology-related events including Macworld Conference & Expo, OpenSource World, E3, DEMO, Storage Networking World, and IDC Directions. IDC, a subsidiary of IDG, is the premier global provider of market intelligence, advisory services, and events. Over 1000 IDC analysts in more than 100 countries provide global, regional, and local expertise on technology and industry opportunities and trends.
Additional information about IDG, a privately held company, is available at http://www.idg.com.
About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company's focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com
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