Adobe Systems Purchases Waltham Property for $44.7 Million

WALTHAM (September 1, 2009)- T3 Advisors, (www.t3advisors.com), a full-service tenant advisory and consulting firm, announced today that Adobe Systems Incorporated has purchased 21-61 Hickory Drive in Waltham, Massachusetts (formerly known as Overlook Center) for $44.7 million. The building is a 108,500 square foot, first class office building with a structured parking garage. Adobe purchased the building upon completion of the building's core and shell. The seller was Normandy Real Estate Partners and partner Neelon Properties.

The new Adobe property will feature contemporary design elements of glass and steel and include approximately 360 spaces of on-site covered parking, a café, fitness center, triangular conference facility, abundant natural light and a courtyard drop-off area. From the property's elevated setting there are dramatic 270-degree views to the north and south. The building is expected to be ready for occupancy by late 2009.

T3 team members Roy Hirshland, Mark Cote, Jack Troast and David Bergeron represented Adobe. In addition, T3's Advisory Services Practice led by Jack Troast, managed property due diligence for Adobe and is serving as Owners Representative to Adobe during the construction process.

The sellers were represented by Alex Dauria, Managing Director, Keith Gurtler, Senior Vice President, Mike Smith, Managing Director of Jones Lang LaSalle.

For more information on Adobe Systems, please visit their website:  http://www.adobe.com

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