A bold and proactive office space search, aggressive deal negotiations, and stunning design helped Rapid7 create one of Boston’s most successful real estate outcomes: a new headquarters resulting in lease savings of over $10 million compared to current market and their pick of the region’s top talent. And thanks to our global portfolio and strategy support, Rapid7 has managed rapid growth, launching offices in four new international markets with significant future expansion plans.
With a headquarters split between two Boston area locations and goals to rapidly grow its headcount and brand presence, the Rapid7 executive team faced three major challenges:
“T3 Advisors has shown themselves to be a thought partner first and a real estate company second. When I deal with the T3 team I know their first priority is to understand the big picture, the strategy, and the outcomes we are seeking to achieve before jumping to real estate solutions.”
Once we understood Rapid7’s financial, cultural, and business goals, we led their executive and real estate teams to tackle the tightening market a year earlier than they’d initially planned. We then aggressively negotiated a lease for Rapid7 as the anchor tenant of an upcoming development called the HUB in Boston’s growing North Station neighborhood.
To help Rapid7 compete for talent and build its brand, we planned a consolidation of its split headquarters, negotiated with the City of Boston and HUB developer on a robust Rapid7 exterior signage package, and successfully prompted the landlord to include a fitness center in the HUB. Our team also led the project management for the entire build out of the new headquarters, overseeing the scope, schedule, and budget.
To support Rapid7’s growing footprint globally, our team advised the real estate department on everything from effective capacity planning; interviewing and hiring a head of real estate; implementing a new lease administration tool to monitor and manage its portfolio; selecting other real estate technology systems; and managing brokerage and build outs for Rapid7’s offices in Austin, Los Angeles, Washington, D.C., and Toronto.
“Working with T3 we have implemented systems and tools that now provide a single source of the truth for our real estate assets. T3 has been great at tracking all our activities and keeping us accountable to making timely decisions.”
“I love the trusting relationship with T3 Advisors. It feels like a partnership—their primary focus is being a valued part of my team and making Rapid7 successful. We have achieved a lot of high-impact work as a team, but the best part is that we have had a ton of fun doing it too!”