T3 Advisors Represents HubSpot in Major Office Lease Expansion
June 19, 2013 – T3 Advisors, a national real estate consulting firm, is pleased to announce that its client, HubSpot, has signed a lease to expand its current space at 25 First Street in Cambridge, Massachusetts. This new lease doubles HubSpot's square footage from 60,000 to 120,000 square feet over the next three years.
One of the fastest growing technology companies in the United States, HubSpot was approaching maximum capacity in their original office space. HubSpot’s rapidly expanded workforce was short on space, utilizing conference rooms as personal workspace became scarce. The company recognized the urgency to evaluate a variety of potential facility options, including the possibility of a full relocation.
T3 Advisors worked closely with HubSpot’s management team to conduct a full evaluation of these real estate options, including:
- Analysis of employee demographics and commuting options, headcount projections and space utilization metrics
- Application of workplace trends and optimum space configuration scenarios
- Evaluation and selection of an architectural firm
- Analysis of market options
- The review, comparison and negotiation of real estate proposals
After a thorough analysis and negotiation process, HubSpot has committed to a new seven-year term to remain and expand at 25 First Street. This agreement reflects the most favorable and cost-effective option that will accommodate the company’s growth trajectory over the next several years and also includes options for additional space in the building allowing for even faster-paced growth. In the end, T3's creative solution saved HubSpot over $6 million versus the alternatives and will help enhance HubSpot’s unique culture and workplace.
About T3 Advisors
T3 Advisors is an innovative, team oriented, collaborative company challenging the traditional norms of commercial real estate. Their rigorous analysis and exceptional service inspires clients to think more strategically about their real estate needs and what it means to create a workspace that cultivates success. T3 Advisors services include real estate brokerage, project management, government advocacy, sustainability, and real estate portfolio management. To learn more about T3 Advisors, go to www.T3Advisors.com.