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Forrester to Move HQ
In the US, Forrester Research is planning to develop new corporate headquarters about four miles from its existing offices in Technology Square, Cambridge, MA.
The firm has signed a 'build-to-suit net lease' (where the landlord builds the entire premises for the tenant) with developer BHX, and will pay $15m for 'the work.
Once the building is finished, the company will move to the 189,000 square foot site situated in the Cambridge Discovery Park. The 15 year lease is expected to commence in September 2011.
Earlier in the year, Forrester Research cut about 50 jobs across various functions and world regions, in response to 'challenging global economic conditions'.In July, the firm announced that while second quarter revenues were down c.3% year-on-year, pro forma net income was stable at $8.8m.
Shares in the company were up 29 cents to $26.44 earlier today.
Web site: www.forrester.com .
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