BEDFORD, Mass. (March 10, 2004)-T3 Advisors, LLC (www.t3advisors.com), a strategic real estate advisory and brokerage firm serving technology and venture capital companies announced today that 170 Systems has signed a sublease of almost 40,000 square feet at 36 Crosby Drive in Bedford, Mass. The space will serve as 170 Systems' new headquarters.
Roy Hirshland, President, and Mark Cote, Managing Director, of T3 Advisors brokered the transaction that represents one of the largest in the Bedford area in the past several years. The space formerly served as RSA Security's corporate headquarters. RSA Security expanded several years ago to another office park in Bedford.
"We're extremely excited to have moved to such a high quality office park as Crosby Corporate Center. In addition, it has been great working with RSA Security and T3 Advisors to negotiate a mutually beneficial sublease," said Paul Smith, Chief Financial Officer of 170 Systems.
"It is always satisfying to put two companies together to structure this kind of deal," said Roy Hirshland. "It is also interesting to note that like 170, RSA Security was founded in Cambridge and moved to the suburbs to allow for expansion and lower rent costs."
With the help of T3, RSA Security has successfully subleased almost 100,000 square feet of excess space at Crosby Corporate Center since the company relocated to its new campus at Bedford Woods.
"The 170 Systems sublease represents our largest sublease to date," said Dan Ryan, Director of Real Estate and Facilities for RSA Security. "This lease represents great brokerage by T3, a very cooperative landlord in Equity Office Properties, and two great companies working well together to get 170 Systems in new space in record time."
About 170 Systems
170 Systems, Inc. is the leading provider of software products and services designed to
dramatically reduce enterprise costs by streamlining the business processes of large ERP systems, such as Oracle E-Business Suite. Since 1990, 170 Systems has provided its customers with products that optimize core business functions, creating cascading cost savings. 170 MarkView is deployed by Global 1000 companies in more than 40 countries.
For more information about 170 Systems, visit www.170systems.com.
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