Newmark is pleased to announce that it has recently completed a 56,962-square-foot lease to DataRobot at 225 Franklin Street in Boston, Massachusetts. Newmark represented both the property owner, Oxford Properties Group, and the tenant in the transaction, bringing the building’s occupancy to nearly 90 percent. DataRobot signed the lease following Newmark’s strategic analysis of suitable, local options for the company’s new headquarters.
225 Franklin Street is a Class A, 943,605-squre-foot office building. The 33-story mid-rise was built in 1965 and renovated in 1990. 225 Franklin Street features large, flexible floor plates, and a multitude of on-site amenities including: Intelligentsia Coffee (with new lounge in building lobby), Sweetgreen, Foumami, Equinox, and The Foundation, a conferencing and amenity center including tenant lounge with a kitchen area and catering capacity, golf simulator, locker rooms with showers, bike storage, two high capacity meeting rooms, and 237 spaces of on-site parking. Situated at the heart of Boston’s financial district, the building offers easy access to Post Office Square, Langham Hotel, an array of restaurants, food trucks, and is three blocks from South Station.
Founded in 2012, DataRobot is the category creator and leading provider of automated machine learning. Organizations worldwide use DataRobot to empower the teams they already have in place to rapidly build and deploy machine learning models and create advanced AI applications. With a library of hundreds of the most powerful open source machine learning algorithms, the DataRobot platform encapsulates every best practice and safeguard to accelerate and scale data science capabilities while maximizing transparency, accuracy and collaboration. With offices around the globe, DataRobot is backed by $225 million in funding from top-tier firms, including New Enterprise Associates, Sapphire Ventures, Meritech and DFJ.
Relocating from 1 International Place in Boston, where DataRobot leased 31,407 square feet, the firm selected Newmark to assist in finding a larger, more efficient space for the growing company. The team ultimately secured the lease at 225 Franklin Street based on its central location, modern amenities and large floorplates offered. Newmark Senior Managing Director Jason Cameron, Executive Managing Director David Martel and Transaction Services Specialist Tim Giarrusso represented ownership in the transaction while Newmark Director Ben Sutton and Executive Managing Director William Motley represented DataRobot.
“DataRobot selected 225 Franklin Street due to it having three contiguous floors available that featured generous natural light, efficient floor plates and possible future expansion opportunities,” said Sutton.
“225 Franklin is an exceptional property and Oxford has recently revitalized the space with a new lobby, the addition of retail conveniences at the ground level, and a state-of-the-art amenity center,” said Matthew Polhemus, senior manager of leasing at Oxford Properties Group. “DataRobot is an example of our commitment to working collaboratively with our customers to understand their business needs and provide world-class services.”
DataRobot plans to take occupancy of its new space in September 2019.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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