Financial And Legal Firms Continue To Drive Demand Within Boston’s Suburban Office Markets

23 Aug, 2007, Needham, MA

Cushman & Wakefield and JRT Realty Close Lease for 10,000 Square Feet

Tenant demand within Boston’s suburban office market continues to be driven by financial and legal firms such as Orsi, Arnone, Rothenberg, Iannuzzi & Turner, LLP, which recently signed a lease agreement for 10,000 square feet of executive office space at Needham Corporate Center. Exclusive leasing agent and property manager, JRT Realty Group, Inc., along with strategic alliance partner, Cushman & Wakefield, handled the transaction.

“Small- to medium-sized finance and law tenants are dominating the suburban office market in terms of space being sought. Among their sophisticated requirements are a comprehensive technology infrastructure, ample space to grow their operations and flexible floor layouts,” said Greg Smith, executive vice president of JRT Realty, who spearheads the leasing and management team.

Located at 160 Gould St., in Needham, Mass., Needham Corporate Center is a three-story Class-A office building within the highly desirable Route 128 corridor. The 138,690-square-foot multi-tenant building is situated on four professionally landscaped acres, including a picturesque courtyard. First-class amenities range from a full-service cafeteria and on-site café to a picturesque outdoor courtyard and nearby hotels, retail centers and dining. The property is owned by TIAA-CREF, the national financial services organization.

JRT Realty provides leasing and asset management services at more than 150 buildings, exceeding 13 million square feet nationwide, which includes a portion of TIAA-CREF’s national portfolio. Headquartered in Manhattan, the firm collaborates with Cushman & Wakefield’s real estate professionals in 195 field offices, including the Boston branch.

As the largest woman-owned commercial real estate services firm in the country, JRT Realty is certified as a Minority- and Woman-Owned Business Enterprise (M/WBE) by the Women’s Business Enterprise Council, Women Presidents’ Educational Organization, National Minority Business Council, State of New York, New York City Department of Small Business and Port Authority of New York and New Jersey.

TIAA-CREF is a national financial services organization with more than $414 billion in combined assets under management and the leading provider of retirement services in the academic, research, medical, philanthropic and cultural fields. With an approximate $68 billion global portfolio of direct and indirect investments, TIAA-CREF is one of the largest institutional real estate investors in the nation. TIAA-CREF Global Real Estate, through the accounts they manage directly, own over $20 billion in real estate assets made up of primarily high-quality properties in the office, retail, industrial, and multi-family sectors. Investments are both domestic – covering more than 40 states and the District of Columbia – and foreign – in Canada and Western Europe.

About Cushman & Wakefield

Founded in New York City in 1917, Cushman & Wakefield is the largest New York-based commercial real estate firm and the preeminent global real estate services provider. From its Midtown Manhattan world headquarters, the firm operates more than 201 offices in 55 countries around the globe and employs more than 12,000 professionals. In addition to office brokerage, Cushman & Wakefield maintains one of the industry’s strongest retail services groups. The firm is New York City’s largest property manager, with more than 52 million square feet of property under management through its Asset Services division. The company is a leader in investment sales, valuation, research and other advisory services, available through the company’s Corporate Services group or directly through the firm’s Advisory Group. To find out more about Cushman & Wakefield, visit the firm’s web site at www.cushwake.com.

About JRT Realty Group

Founded in 1996, JRT Realty Group is the largest woman-owned commercial real estate firm in the United States. JRT is a national, highly-qualified, full service corporate real estate services company that specializes in strategic planning, corporate real estate portfolio management and tenant representation leasing as well as property marketing, financing and investment sales. The company was formed in response to the New York City Department of Business Services Minority and Woman-Owned Business Enterprise (M/WBE) Program. The firm is a certified M/WBE with many corporations as well as state and city governments across the nation and is nationally certified with WBENC (Women Business Enterprise National Council) and The National Minority Business Council, Inc. It has earned a number of prestigious industry awards including the 2002 National Minority Business Council's Outstanding Business of the Year. To find out more about JRT Realty Group, visit the web site at www.jrtrealty.com.

Media Contact: Evelyn Weiss Francisco: evelyn@caryl.com, (201) 796-7788

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