Akamai Technologies
1,500,000 sq. ft.
A global real estate partnership with Akamai
New Cambridge HQ for Akamai
Locations
- Boston
Services Provided
- Transaction Management
- Consulting
- Location Strategy & Economic Incentives
Cresa Team
- Adam Subber
- Dan Sullivan
- Courtney Ofria
Client Objectives
- Identify a suitable future location for Akamai’s headquarters in the greater Boston area
- Consolidate real estate portfolio and create an urban campus for its world headquarters
- Bring together more than 1,600 employees scattered across six separate buildings in Cambridge
- Maintain presence in Kendall Square where the company was founded in 1998
- Leverage new building design to foster collaboration, optimize efficiency and utilization, cultivate a flexible workplace, and provide an amenity-rich environment for employees, while controlling overall cost and maintaining opportunities for future growth
Results
- Located 476,000 SF of space in a city with a vacancy rate in the low single digits
- Downsized from six buildings to a single building, realizing efficiencies in space utilization
- Terminated two existing leases
- Secured a 15-year lease with rights to extend at a new development located at 145 Broadway, across the street from Akamai’s existing headquarters
- Recognized by the Commercial Brokers Association (CBA) with its Greater Cambridge Deal of the Year Award
We chose Cresa Boston to help structure the transaction because their business model allowed for the best and the brightest to engage with us directly. They were truly a part of my team and proved to be creative, yet humble. We greatly appreciated the manner in which the Cresa team thought about tough business challenges and their innovative approach to helping fulfill our vision for the new campus.Erica Chapman | Vice President, Global Real Estate and Workplace Productivity
Akamai Technologies
