Business
CarGurus Signs Lease as Anchor Tenant at 1001 Boylston Street in Boston
New Back Bay Project Scheduled for Completion In 2023 CAMBRIDGE, Mass., Dec. 19, 2019 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global automotive
About this update from Cargurus, Inc.
[{"type":"text","content":"New Back Bay Project Scheduled for Completion In 2023\nCAMBRIDGE, Mass., Dec. 19, 2019 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global automotive marketplace, today announced it has signed a 15-year lease on roughly 275,000 square feet of space at 1001 Boylston Street in Boston. The project, to be developed by Samuels & Associates, is the first air rights project in Boston in 40 years and is scheduled for completion in 2023. The building will allow CarGurus, which is currently headquartered across three offices in Cambridge, MA, to unite its fast-growing team in one building at a prime Back Bay location.\n Founded in Cambridge in 2006, CarGurus is the most visited automotive shopping website in the United States1, with more U.S. car listings than any of its nearest competitors2. The company brings transparency to the car shopping process with innovative search and analytics technology, helping consumers find great car deals and connecting them with trusted dealerships. CarGurus currently employs nearly 1,000 people globally. “We could not be more excited about our future home in Boston,” said Jason Trevisan, Chief Financial Officer at CarGurus. “Not only does this building answer the space needs of our growing CarGurus team, but it also allows us to create a dynamic work environment that will reflect our collaborative culture, inspire our people and support the pioneering work we have ahead of us.” \"We are excited that CarGurus will be able to remain in the Boston region and unite their workforce in a new state-of-the-art headquarters in Back Bay,\" said Mayor Martin J. Walsh. \"This move supports our region's thriving innovation economy and will help Boston remain a leader in technology for years to come.\" “Samuels is delighted that our state-of-the-art building with great amenities will be the new headquarters for CarGurus, an innovative technology company, and we are confident it will offer an outstanding platform for the company's long-term growth,” said Peter Sougarides, Principal, Samuels & Associates. “This high-visibility Back Bay location is a clear draw for a company looking for easy access to public transit and a walkable environment as a way to attract and retain great talent.” CarGurus will occupy the top 11 floors of the new 20-story building and will have their logo visible atop the building. As pa...