The Boston office of Cresa, one of the world’s largest tenant-only commercial real estate firms, has won the 2017 Boston Office Deal of the Year award at the annual Commercial Brokers Association (CBA) Achievement Awards gala held on March 22 at the InterContinental Hotel. Cresa was recognized for negotiating PTC’s lease for its new 250,000 s/f global headquarters at 121 Seaport Blvd., one of the city’s largest leases in 2017. In addition, Joseph Sciolla, managing principal at Cresa, was recognized as a finalist for the 2017 McCall Leadership Award.
PTC, a global provider of technology that transforms how companies design, manufacture, operate and service the “things” in the Internet of Things (IoT), engaged Cresa to identify, secure, and negotiate a lease to relocate the company’s headquarters. Cresa worked with Newmark Grubb Knight Frank and Skanska Development to structure a lease transaction in a collapsed negotiating period of 7.5 weeks. In addition to lease negotiation, Cresa will manage sublease and disposition services for PTC’s current lease at 140 Kendrick Street in Needham, Mass., and its project management team will oversee the buildout and relocation to PTC’s new global headquarters at 121 Seaport in Boston’s Seaport District. Jack Burns, Adam Subber and Dan Sullivan of Cresa negotiated the lease for PTC.
The McCall Leadership Award serves as an opportunity for the CBA to recognize real estate industry leaders based on several criteria, including professionalism, successful track record, and community involvement. In his over 37 years as a commercial real estate broker in the city, Sciolla has been involved in over $4.7 billion worth of real estate transactions and has negotiated over 1,000 leases. His business practice focuses on providing exclusive tenant representation and corporate advisory services to local as well as national companies. He is a member of the Boston Commercial Brokers Association and the Greater Boston Real Estate Board, as well as a guest lecturer at Northeastern University School of Entrepreneurship.
“These prestigious awards signify earning the respect and admiration of our industry colleagues. We are proud to be recognized by our peers,” said Adam Subber, managing principal at Cresa. “The CBA Achievement Awards gala is a night of celebrating Boston’s commercial real estate achievements. Congratulations to all winners and all nominees on another year of hard work and success.”
CBA represents over 400 members in the commercial brokerage community throughout Massachusetts. Held annually, the CBA Achievement Awards recognize Greater Boston’s most significant real estate deals and honor local industry professionals who have distinguished themselves among their peers.
Cresa is the world’s largest tenant-only commercial real estate firm. By representing only one party – the tenant – Cresa avoids inherent conflicts of interest and provides conflict-free advice to clients. The firm leverages its expertise, market insight and years of experience to give clients leverage with the landlord. Cresa applies strategic solutions that reduce costs, improve operations and enhance the performance of a client’s workforce. Integrated services cover every aspect of a real estate transaction from site selection and financing to project management and relocation services. Cresa offers clients customized solutions with more than 60 offices in 75 markets worldwide.