DPM Hired for 82,000-SF Head Quarter Relocation on Harbor

BOSTON—After inking an 82,000-sf lease at the Hub’s 530 Atlantic Ave. on Boston Harbor, Communispace Inc. has tabbed Newton-based Diversified Project Management Inc. to orchestrate an upcoming move that is slated to take place next summer. Communispace’s lease at the waterfront building known as Atlantic Wharf more than doubles that of its current 40,000-sf operation in Watertown.

The Communispace commitment provides a measure of relief for a Boston office market that continues to struggle heading into the final two months of 2010. According to the latest numbers compiled by FHO Partners, the city’s office market of 59.7 million sf is down by 485,000 sf in positive net absorption YTD, driving the availability rate to16.7 percent. The summer did show signs of improvement, gaining 125,000 sf in positive net absorption during the third quarter to whittle down a mid-year absorption total in the red by 610,000 sf, FHO reports.

DPM previously provided site analysis assistance that led to the Atlantic Wharf commitment at the building, an agreement brokered by Ted Lyon of FHO Partners. DPM will offer a range of expertise in advance of the relocation, including construction administration, FF&E coordination and programming. The assignment is the third engagement between DPM and rapidly growing Communispace.

“We knew we needed expert assistance with our project and we already had seen significant benefits from our collaboration with DPM to date,” Communispace CEO Gary Arena says in a press release that predicts “a very successful outcome” for the change in venue.

DPM President Bob Keeley says in the same release that his company “is thrilled at the opportunity to collaborate with Communispace once again,” citing the firm’s rapid ascension in the social networking industry to “a strong team culture they have created.” According to Keeley, Communispace’s Boston headquarters “will provide an environment where they can continue to thrive and be even more productive,” adding, “we are proud to be part of their team.” In selecting its footprint, the client was seeking to capture its “dynamic” culture with an energetic and eclectic feel, relays Keeley, a layout consisting of open workstations, articulating stair, conference and training rooms and “Fenway Park West,” a custom meeting area that emulates the beloved home of the Boston Red Sox.

Based in Newton and sporting offices in Hartford and Stamford, Connecticut, DPM is an independent owner’s representative consulting company that serves academic, corporate, healthcare, life sciences and manufacturing clients on construction, relocation and renovations projects. Other firms who have utilized DPM’s menu of services include Acme Packet, NATIXIS, Red Hat and Robeco Investment Management.

Atlantic Wharf is a mixed-use commercial building nearing completion at the corner of Atlantic Avenue and Congress St. The effort that will yield 750,000 sf office space at the erstwhile Russia Wharf, is an undertaking provided by Boston Properties, which has previously landed Wellington Management as anchor tenant of the 31-story tower.