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A prominent Kendall Square-based tech firm is reshaping its office space in East Cambridge.
HubSpot, a customer relationship management software company, has agreed to a 205K SF lease expansion and renewal at Intercontinental Real Estate Corp.’s Two Canal Park in East Cambridge, broker T3 Advisors, A Savills Company, announced Tuesday. It simultaneously terminated its lease at 1 Canal Park. HubSpot already occupies another 240K SF at 25 First St. across the street, bringing its Kendall campus to approximately 445K SF.
“The space will help to support future growth of the Product and Engineering teams who are based in Cambridge and create an environment that’s inclusive, accessible and enables folks to do their best work,” HubSpot Director of Global Facilities Ken Papa said in a statement.
T3 Advisors’ Mark Cote, Roy Hirshland and Rebecca Blue represented HubSpot, while CBRE Boston’s Chuck Kavoogian represented the landlord.
“With this transaction, HubSpot will be able to build upon their commitment to sustainable facilities while maintaining nearly the same square footage it had previously,” Cote said in a statement.
HubSpot moved into its headquarters at Jamestown-owned The Davenport at 25 First St. in 2010 and grew its footprint there to 240K SF over the past decade, including a new 12-year lease signed in 2015.
The firm occupied 60K SF at Two Canal Street at the neighboring Canal Park campus beginning in 2016. At One Canal Street, HubSpot was paying $72 per SF to IREC for a 25K SF space, according to a Securities and Exchange Commission filing.
The Canal Park offices sit steps from the Cambridgeside shopping center and less than a mile from the Kendall Square life sciences epicenter. HubSpot’s office commitment is the second major tech firm move in Kendall Square this summer, after Facebook in July was said to be approaching a 267K SF sublease at 50 Binney St. from biopharmaceutical firm Bluebird Bio.
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