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News release

Boston, MA.

Pegasystems Leases 163,000 SF at One Rogers Street in Cambridge


BOSTON, July 7, 2011 — Jones Lang LaSalle announces the long-term lease of 163,000 square feet of first class office space to Pegasystems Inc. (NASDAQ:PEGA) at One Rogers Street in Cambridge, MA. Pegasystems, the leader in Business Process Management (BPM) and software for customer centricity, will occupy three floors in the 6-story first class office building owned by Principal Real Estate. The relocation and expansion space will serve as their new corporate headquarters.

Pegasystems was represented by T3 Advisors President Roy Hirshland and Managing Director Mark Cote. Principal was represented by Jones Lang LaSalle Senior Vice Presidents John Osten and Peter Bekarian, and Vice President Dan Kollar.

Pegasystems Vice President, Real Estate and Facilities Dan Ryan said: “We are really excited about our move to One Rogers Street. Pegasystems and Principal have partnered together to create a unique solution in the Cambridge office market. We will have a modern, collaborative space for our new global headquarters that will provide our employees, partners, and clients with a desirable location that also provides a wealth of nearby amenities, as well as access to many public transit stations.” 

Interior construction on their offices begins July 2011. Occupancy is scheduled for the end of the year. The firm is relocating from the company’s current 101,000-square-foot location at 101 Main Street in Cambridge.

“We are proud to welcome a fast growing, high performing company like Pegasystems as a tenant,” said John Carrick, assistant managing director – northeast region for Principal Real Estate Investors. ”We’re confident this valuable partnership has long-term potential, and we look forward to helping facilitate the impressive growth of Pegasystems for years to come.”

One Rogers Street is a 252,000-square-foot first class office building that adjoins One Charles Park. It features a modern design, detailed high end finishes, a shared landscaped courtyard, and panoramic views of the Charles River. A significant lobby and courtyard renovation will begin next year. Other tenants in the building include IBM, and Aetna.

The ENERGY STAR rated complex is located adjacent to the CambridgeSide Galleria and the Hotel Marlowe. It is in close proximity to the retail, restaurants, cultural and transportation amenities of East Cambridge. The property manager for One Rogers and One Charles is Jones Lang LaSalle.

According to Jones Lang LaSalle’s Osten: “We are delighted to accommodate Pegasystems’ rapid expansion. This is further affirmation of how Cambridge continues to attract and expand world renowned companies.”

“One Rogers is a unique asset that offered Pegasystems the right solution for its headquarters objectives,” said T3 Advisors' Cote. “On behalf of the Pegasystems team, we want to thank the Principal/Jones Lang LaSalle team for working together to finalize this unique transaction. Our team is excited to see the continued success of Pegasystems at One Rogers Street.” 

About Pegasystems                
 
Pegasystems, the leader in business process management and software for customer centricity, helps organizations enhance customer loyalty, generate new business, and improve productivity. Our patented Build for Change® technology speeds the delivery of critical business solutions by directly capturing business objectives and eliminating manual programming. Pegasystems enables clients to quickly adapt to changing business conditions in order to outperform the competition. For more information, please visit us at www.pega.com.

About Principal Real Estate Investors

Principal Real Estate Investors is the fourth largest institutional real estate manager in the United States based on tax-exempt assets under management* and manages or subadvises $36.4 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

About T3 Advisors
 
T3 Advisors (www.t3advisors.com) is a tenant advisory firm with offices in the Boston area and Silicon Valley. T3 offers its clients a wide array of real estate services ranging from strategic planning/consulting to deal negotiation/transaction services. T3’s singular focus is on aggressive representation of tenants and accompanying services across many industries. Its advisors understand the unique financial, operational and strategic needs of its clients and structure unique real estate services with superior results.
 
* The 4th largest manager of real estate, ranked by U.S. institutional tax-exempt real estate assets, out of 87
 
About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from more than 1,000 locations worldwide, including 185 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $43 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.