Client Case Study · F.L. Putnam

35% more space. Approximately $42,000 less in annual base rent.

A targeted relocation strategy gave F.L. Putnam room to grow while lowering occupancy costs and eliminating upfront build-out expenses.

Explore the strategyDownload original case study
+35%Increase in office footprint
~$42KAnnual base-rent savings
6,000 SFNew Needham premises
$0Furniture and build-out cost
01

The challenge

F.L. Putnam's 4,424-square-foot Wellesley office was well located, but it had become too small and costly.

  • Create room for continued growth
  • Reduce base rent and occupancy costs
  • Minimize upfront capital investment
  • Navigate Class A rents above $43/SF in Wellesley
02

The process

WRA conducted a targeted site-selection process across Wellesley, Needham, and Newton, evaluating economics, commute implications, and speed to occupancy.

The analysis identified a 6,000-square-foot, plug-and-play sublease at 250 First Avenue in Needham for $25/SF.

03

The result

The selected space increased capacity while immediately lowering costs. It was fully furnished, included two garage parking spaces, and avoided construction delays and expenses.

The outcome aligned F.L. Putnam's real estate with its growth and financial objectives.

Deal Snapshot

Growth without the expected cost premium

Client
F.L. Putnam Investment Management Company
Former location
4,424 SF at Wellesley Office Park
New location
6,000 SF at 250 First Avenue, Needham, Massachusetts
Former base rent
$15,990 per month
New base rent
$12,500 per month
Services
Tenant representation, site selection, market analysis, financial deal structuring, and drive-time analysis
Measured Results

A better office and a better financial outcome

WRA used a competitive, multi-market search to uncover an option that met both the operational and financial requirements.

35% larger footprint
Approximately $3,490 less monthly base rent
Approximately $42,000 in annual savings
Fully furnished for immediate occupancy
Two garage parking spaces included
No build-out cost or construction delay

What could your next lease accomplish?

WRA helps tenants turn renewals and relocations into opportunities for greater flexibility, better economics, and stronger business alignment.

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