Tech Company Renews 320K SF Waltham Lease
An office lease renewal isn't often huge news unless the square footage is huge. A renewal at a Waltham office campus marks one of the largest renewals in Greater Boston this year.
Dassault Systèmes renewed its lease for a little more than 320K SF at Hobbs Brook Real Estate's 175 and 185 Wyman St., the Boston Business Journal first reported.
The office is the 3D-design software company's North American headquarters. The company first signed a lease for the space in the Waltham campus in 2010, when the office buildings were under construction and set to deliver in mid-2011.
The two buildings are part of the landlord's 2M SF, 11-building campus in the city. Earlier this month, dental technologies company Dentsply Sirona Inc. signed a 84K SF renewal at 590 Lincoln St. on the same campus.
Dassault has more than 184 offices around the globe. The company's global headquarters is located in Paris and encompasses six buildings across 7 acres.
CBRE represented HBRE and JLL represented Dassault in the deal.
The deal is larger than Hasbro's 264K SF relocation to the Seaport, Klayviyo's 250K SF renewal in the Financial District and Arbella Insurance's 178K SF lease in Quincy.
Greater Boston's suburban office sector saw significant signs of improvement with positive absorption increasing to 306K SF, an increase of 905K SF quarter-over-quarter, according to CBRE.
Leasing velocity stood at 1.25M SF across the suburban market.
