CardScan Signs Relocation Deal

CAMBRIDGE, MA-CardScan has inked a deal for 10,614 sf of office space at 25 First St. The firm, which makes card scanners for home and business use, currently operates in approximately 9,000 sf at 810 Memorial Dr.

CardScan will move into its new location next quarter under a lease arrangement worked out with owner IBUS. Terms of the lease were not disclosed.

Tucker Hansen with Meredith & Grew, who represented the tenant, tells GlobeSt.com that the company had been looking for a new location since July. He notes that the space in the 220,000-sf building will give them nearby amenities and refurbished office space in a brick-and-beam building. “The space just worked for them.”

Hansen was assisted by colleague Joseph Flaherty. Handling the transaction for IBUS was Eric Smith and Curtis Cole of CB Richard Ellis along with John Caldwell and Tim Martin of Paradigm Properties. CardScan’s lease brings the building to 93% occupancy.