Originally posted in the Boston Business Journal
Boston – Industrial software company PTC Inc. (Nasdaq: PTC) has officially moved from Needham to Boston’s Seaport District, celebrating the grand opening of its 250,000-square-foot headquarters at 121 Seaport Blvd. on April 25.
The office was designed by Margulies Perruzzi Architects and built out by Gilbane Building Co.
The office features museum-like exhibits showcasing PTC software in action, from its uses in Caterpillar heavy machinery to ESAB welding equipment and Celli Group taps serving up Downeast Cider beverages. At a customer experience center, customers can use a tablet loaded with PTC software to take a virtual tour of the Seaport District. Smaller touches including a conference table made from the remains of a shipwrecked schooner, discovered in 2016 amid the construction of 121 Seaport Blvd.
“121 Seaport’s design, amenities and location made the selection of our new global headquarters an easy one,” said PTC CEO Jim Heppelmann in a prepared statement when the company announced its move in September 2017. “We believe our choice sends a strong message to our more than 6,000 employees, our customers, and our partners that PTC will continue to be on the leading edge of technology and breakthroughs that will shape the way we all live and work.”
Cresa Boston negotiated an 18.5-year lease for PTC with previous building owner Skanska. Skanska sold the 17-story office for $455 million, or $1,137 per square foot in December 2018 to American Realty Advisors and Norges Bank Real Estate Management.
That sale was the second-highest per-square-foot sale price for a commercial building in Boston, behind Tishman Speyer’s $450 million, $1,208 per-square-foot sale of the Pier 4 office building, also located in Boston’s Seaport District.