Needham tech company moving to Seaport, signs largest Boston lease of the year
Software company PTC is moving into 121 Seaport, marking yet another win for the fast development in the area.
If you’ve walked around the Seaport lately, you know that the area has been undergoing quite the transformation, with new developments beckoning to high-profile companies who want to make this quickly rising neighborhood their new home.
A computer software company originally based in Needham is the latest to move into the area.
Tech company PTC recently announced that it will establish its headquarters at 121 Seaport Blvd., the 17-story tower developed by construction group Skanska.
"The Seaport represents innovation, cutting-edge technology, leadership and community, and 121 Seaport’s design reflects this spirit," said Charley Leatherbee, leader of Skanska's Commercial Development operations in Boston. "PTC’s moving their headquarters to 121 Seaport affirms our vision for the building and the district."
PTC will take over 250,000 square feet in the building, occupying two-thirds of 121 Seaport and marking the largest lease to be signed in Boston this year.
The company will be on floors nine to 17 and will also be bringing 1,000 employees with them for the move, more than those following General Electric as their headquarters relocate to Boston. To Leatherbee, that’s another validation of the area.
"This lease confirms the Seaport District as a major business destination and center for innovation," he said. "Pioneering companies want to do business here."
PTC is joining the ranks of companies like GE, Reebok, Converse and Amazon, all of which have offices in the Seaport. Since the area is also known as Boston’s Innovation District, PTC is confident that their company will fit in.
Founded in 1985, PTC has primarily focused on software and now excels in two major technology trends, according to the company: the "internet of things," which refers to smart devices and the connectivity of everything embedded with electronics, and augmented reality, the technology behind immersive, computer-generated experiences.
“There are few places in the world that can lay claim to as many firsts as Boston,” said Jim Heppelmann, PTC CEO, in a statement. “It is clear that this region has the opportunity to yet again become a beacon of innovation in technologies as disruptive as the internet of things and augmented reality. At PTC, we aim to be a catalyst to extend Boston’s global reputation as a hub for technology leadership.”
Skanska had been in talks with PTC about coming to 121 Seaport for most of the summer, Leatherbee said. Now that the deal is official, Leatherbee expects more companies to continue moving to the district.
"The Seaport represents innovation, cutting-edge technology, leadership and community," he said. "It’s a renowned business destination that also offers employees an ideal live-work-play environment."