Stratus Technologies, which specializes in information technology services, extended its office lease for 287,000 square feet in Maynard, Mass., after vacating its adjacent space.
The space, located at 111 Powdermill Road, has served as Stratus’ worldwide headquarters for the last seven years. Stratus consolidated space at 109 Powdermill Road to cut costs.
The property, owned by DEK Portfolio LLC, is part of a 47-acre campus with 1,400 parking spaces, and features a cafeteria with seating for 340 people, an exercise facility, and two heliports.
“This lease consolidation results in a tremendous cost savings for Stratus,” said Jones Lang LaSalle Vice President Flory McCarthy, who helped broker the deal. “It also locks up a long-term lease at 111 Powdermill, and presents DEK Porfolio LLC with an opportunity to land a new long-term tenant for 109 Powdermill, add value and diversify the park.”
