JLL Leases 163,000 SF to Pegasystems in Cambridge
- Jul 08, 2011
By Nicholas Ziegler, News Editor
Call it a case of keeping up with your own growth. To serve its need for increased office space, Pegasystems has signed a long-term lease with Jones Lang LaSalle Inc. for 163,000 square feet of class-A space in Cambridge, MA. Pegasystems, the third-fastest growing tech company in the country last year according to Fortune, will use the new building as its corporate headquarters.
“We’ve been growing revenue at about 30 percent a year for the last five years with a parallel growth in employees,” Pegasystems CEO Alan Trefler said. “This new facility will enable us to accommodate continued growth.” The company added 350 employees in 2010 while expanding its international footprint to the United Kingdom, India, Japan and other countries.
With the move, the firm will be the largest tenant in the 252,000-square-foot, ENERGY STAR-rated building, with neighbors including IBM and Aetna. Interior construction is expected to begin July, with occupancy following later this year.
John Carrick, assistant managing director for the northeast region for Principal Real Estate Investors, the property owner, also looked forward to the partnership’s “long-term potential,” citing Pegasystems’ recent upswing in performance.