Home > Press Releases > The Gutierrez Company Announces 100,000 SF Build-to-Suit Office Development For Red Hat, Inc.

The Gutierrez Company Announces 100,000 SF Build-to-Suit Office Development For Red Hat, Inc.

Development In Westford, Mass. More Than Doubles Red Hat’s Presence In Westford Technology Park West

BOSTON – April 11, 2012 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented The Gutierrez Company in the signing of a build-to-suit development and long-term lease with Red Hat, Inc. (NYSE: RHT) in Westford Technology Park West (Westford, Mass.).

Under the terms of the agreement, The Gutierrez Company will expand the existing 75,000 square foot building at 314 Littleton Road by an additional 100,000 square feet.  The new addition will consist of four floors of office space.  Construction is set to begin immediately, with completion expected within twelve months.

Red Hat, the world’s leading open source solutions provider, signed a long term lease for the building, more than doubling its current presence in the park.  The Westford office is the global technology company’s engineering hub.  Based in North Carolina, Red Hat has offices throughout the U.S. and around the globe.

“This is a wonderful sign of Red Hat’s commitment to the town of Westford, which continues to be an excellent destination for technology companies,” said Jason Denoncourt, Project Manager of The Gutierrez Company.  “We are looking forward to working closely again with Red Hat to ensure that their unique requirements are met in this development.

“The town of Westford was a critical participant in this process and we greatly appreciate their efforts in helping to increase Red Hat’s local presence,” continued Mr. Denoncourt.  “This project has been a highlight of The Gutierrez Company’s 20 year relationship with the town of Westford.”

John Wilson, Brian McKenzie and James Lipscomb of Richards Barry Joyce & Partners represented The Gutierrez Company in the transaction.  Red Hat was represented by Jones Lang LaSalle.

Westford Technology Park West
The new building will be the third building completed in the Westford Technology Park West.  Gutierrez developed the first building, consisting of 175,000 square feet, for NetScout Systems, Inc. in 2001, followed by Red Hat’s 75,000 square foot building.  Four more sites, totaling an additional 625,000 square feet of space, are permitted for development by the town of Westford.

About the Market – I-495 North Office
According to research by RBJ&P, the I-495 North submarket consists of 14.9 million square feet of office space and was 22.1 percent vacant, as of the quarter ended March 31, 2012.

About The Gutierrez Company
Incorporated in 1978, The Gutierrez Company provides a full range of real estate development services including site selection, financing, master planning, design coordination, project management and supervision, and property management. Through our wholly-owned subsidiary, Gutierrez Construction Co., Inc., we also provide complete, pre-construction consulting, construction management, and general contracting services.

The Gutierrez Company has developed over 9 million square feet of office, office/R & D, retail, residential, and industrial space in suburban Boston and southern New Hampshire for various regional, national, and international clients and tenants. We currently own and manage a building portfolio of over 4 million square feet of space. Additionally, the company controls and/or owns land to develop an additional 10 million square feet of space.  www.gutierrezco.com

About Red Hat, Inc.
Red Hat, the world’s leading provider of open source solutions and an S&P 500 company, is headquartered in Raleigh, NC with more than 70 offices spanning the globe. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with cloud, virtualization, management, storage and service-oriented architecture (SOA) solutions, including Red Hat Enterprise Virtualization and JBoss Enterprise Middleware. Red Hat also offers support, training and consulting services to its customers worldwide. Learn more: http://www.redhat.com.

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.  For more information, please visit our website at www.rbjrealestate.com.  Follow us on Twitter at @RBJ_Partners.

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