NEEDHAM, MA (9/04/02) T3 Advisors, LLC (www.t3advisors.com), a real estate brokerage and advisory firm serving technology companies, is pleased to announce that MCK Communications subleased 32,665 square feet to Upromise, Inc. at 117 Kendrick Street, Needham, MA. T3 Managing Director, Mark Cote, and T3 President, Roy Hirshland, advised MCK in this negotiation.
Glenda Davis, president and CEO of MCK, said the deal was arranged so that both companies would have some flexibility in the next few years as their space needs change.
"In the portion that we moved into there is sufficiently enough space that is not being used that either we or (Upromise) can move into," Davis said. "This is the arrangement that gave us the greatest degree of flexibility."
"It was a long battle," Hirshland said. "We were really very pleased to come up with the situation we did." The deal was a complicated one, requiring finding the right fit for each company involved, Hirshland said. Roving Software, after subleasing its space from MCK, was attempting to sub-sublease it before MCK terminated the lease. MCK then moved into the space Roving had used and opened up the space that it had been using for Upromise.
"It was one of those ‘moving parts’ deals," Hirshland said. "I think deals have become, in part, more intricate."
The 212,227-square-foot building at 117 Kendrick Street, Needham, MA is owned by Chatham, N.J.-based WP Commercial LLC, as renovated in 1999.
MCK Communications develops and markets distributed voice solutions that cost-effectively create a more open and interconnected business telephony environment which provides enterprises with extended business reach, lowered communications costs and options for flexible migration to next-generation environments while empowering individuals with portable business telephony.
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