CAMBRIDGE, Mass.– In a move that reflects one of Boston’s largest transactions of 2021, T3 Advisors, a Savills Company, announced HubSpot’s lease termination at 1 Canal Park and expansion and lease renewal at 2 Canal Park in Cambridge.
By expanding its footprint in 2 Canal Park, HubSpot Kendall Campus will consist of approximately 445,000 square feet. The customer relationship management (CRM) platform company will lease the entirety of 2 Canal (205,000 square feet) starting in late 2022. The company currently occupies 240,000 square feet at 25 First Street.
“We’ve been fortunate to represent HubSpot not only in the Boston region, but globally, and it’s been incredible to see their journey of growth,” said Mark Cote, executive vice president, T3 Advisors, A Savills Company. “With this transaction, HubSpot will be able to build upon their commitment to sustainable facilities while maintaining nearly the same square footage it had previously.”
Of the transaction, HubSpot’s Ken Papa, Director of Global Facilities, shared “This was an opportune time to solidify the leasing of the entire 2 Canal space. The space will help to support future growth of the Product and Engineering teams who are based in Cambridge and create an environment that’s inclusive, accessible and enables folks to do their best work.”
HubSpot was represented by Mark Cote, Roy Hirshland and Rebecca Blue. Intercontinental Real Estate Corporation, the owner of Canal Park, was represented by Chuck Kavoogian of CBRE Boston of CBRE. HubSpot will occupy the entirety of 2 Canal Park, which encompasses more than 200,000 square feet and five stories.