Fast-tracked negotiations bring PTC to Boston's Seaport

Client
  • PTC
Space
  • 250,000 sq. ft.
Industry
  • Technology
Locations
  • Boston
Services Provided
  • Transaction Management
  • Project Management
  • Workplace Intelligence
Cresa Team
  • Jack Burns
  • Adam Subber
  • Dan Sullivan
  • Dwight Patten

Client Objectives

  • Desired a new global headquarters in Boston to attract their target workforce
  • Wanted a transformational workplace to showcase disruptive technologies of the future
  • Sought a central location to house its Corporate Experience Center, an interactive augmented reality software display where customers and partners from around the world experience PTC technology

Process and Results

  • Negotiated an 18.5-year lease for 250,000 SF in Boston’s Innovation District
  • Beat out competition to be the building’s first signed tenant
  • Leased 63 percent of the building, including the building’s top nine floors with direct access to the rooftop deck and a common area with outdoor deck on the third floor
  • Accomplished a six-month process in 30 days with fast-tracked negotiations
  • Retained to manage sublease and disposition services for current lease
  • Engaged as project manager to supervise the selection of the architect and construction company for build-out as well as the relocation of staff from Needham to Boston
It is an exciting time to be at PTC as we look forward to moving to the heart of Boston’s Innovation District and contributing to the technology innovation that has given rise to Boston’s global reputation as a hub for technology leadership. 121 Seaport’s design, amenities and location made the selection of our new global headquarters an easy one. Cresa Boston, Skanska Development and their respective partners were instrumental in helping us to achieve this major lease in a short time.
Eric Snow  |  Senior Vice President of Corporate Marketing
PTC

PTC Success Story

PTC Success Story

Learn how we customize solutions to meet your needs.

Contact us