NEWTON, Mass. (March 20, 2002)-T3 Advisors (www.t3advisors.com), a real estate advisory and brokerage firm for technology companies and venture capital firms, is pleased to announce that it represented Macromedia, Inc. (www.macromedia.com), during the subleasing of 110,000 square feet of office space at 275 Grove Street in Newton, Mass. Roy Hirshland, president & C.E.O., Greg Hoffmeister, managing director, and Mark Cote, managing director of T3 Advisors advised Macromedia, Inc. on the lease transaction.
These subleases represent the largest successful disposition of excess corporate real estate in suburban Boston in a long time. "We are delighted with our results," said Mr. Hirshland. "It really amazes me," said James Morgensen, vice president of real estate, facilities and services for Macromedia, Inc. "It was space that I expected to be sitting on for a year without batting an eye."
McKesson Corporation subleased 85,300 square feet and United Healthcare subleased 24,000 square feet. Three buildings comprise 275 Grove St., totaling 524,000 square feet. McKesson and United Healthcare leased space in separate buildings.
Joe Fallon, Principal of Trammel Crow Company, represented McKesson, and David Campbell, Vice President of Trammel Crow Company represented United Healthcare.
Macromedia is a leading software company that enables web professionals to efficiently and cost-effectively design and develop dynamic web content and applications that can be delivered to multiple platforms and devices.
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