Autodesk‘s potential relocation from 1560 Trapelo Road in Waltham, Mass to a more urban location in either Cambridge or Boston could have an impact on the $18.7 million loan originated on its headquarters building in May of this year, according to Trepp.
Autodesk, which announced that it would be opening the new headquarters for its architecture, engineering & construction (AEC) division on Trapelo Road in November 2008, is the sole tenant in the building. The AEC division was responsible for nearly one-third of Autodesk’s overall revenue in 2014, according to bostoninno.com, which reports that the company is looking at 333 Summer Street in Boston’s Seaport district as a potential landing spot.
The loan on the property remains current and matures in 2024.
Autodesk has the right to terminate its lease at 1560 Trapelo Road on July 31, 2018, with 12 months’ notice and payment of a termination fee. Boston-based T3 Advisors represented Autodesk in recent lease transactions, according to bostoninno.com.
333 Summer Street, a 5-story, 117,801 square foot building, is represented by Transwestern RBJ, according to showcase.com. The building was acquired by Synergy Investments and DivcoWest in the second quarter of 2013, according to the DivcoWest website, and is currently being renovated. The delivery date on the asset is April 2015.