IoT Provider Takes 250K-SF in Boston’s Seaport District
Needham, MA-based PTC, a global provider of technology, signed an 18.5-year lease for 250,000 square feet of office space at 121 Seaport Boulevard in Boston’s Seaport District. The 17-story, 400,000-square-foot commercial real estate building is being developed by Skanska Development, and will serve as PTC’s new global headquarters.
PTC is expected to move 1,000 employees into 121 Seaport’s top nine floors in early 2019. The lease is the first for the property, and brings the building to 63% leased. The Class A, elliptical-shaped glass office building now under construction in Boston’s Innovation District is slated for base building completion in Q1 2018.
Cresa Boston’s Jack Burns, Adam Subber and Dan Sullivan represented the tenant. NKF’s Bill Anderson and Dave Martel represented the landlord. Cresa will also manage sublease and disposition services for PTC’s current lease at 140 Kendrick Street in Needham, MA.
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