A Waltham software company is swapping out a suburban office headquarters for a downtown Boston address.
Dynatrace announced its relocation this spring from Waltham’s Reservoir Place office park at Atlantic Wharf. Both properties are owned by BXP, the Boston-based office REIT.
A real estate source said the lease totals 25,094 square feet. Dynatrace declined to give a specific size.
In a statement, Dynatrace CEO Rick McConnell said the new location at 280 Congress St. will give the company “substantially easier access for us to work with customers, partners, and other stakeholders.”
Dynatrace is currently headquartered at 1601 Trapelo Road, after signing a lease in 2017 for 40,390 square feet. The lease had been scheduled to expire in 2027, according to an SEC filing, and has current payments of $40.50 per square foot. Dynatrace expanded by 9,841 square feet at 1601 Trapelo Road in 2021 at an initial rent of $42.50 per square foot.
During the fiscal quarter ending Sept. 30, Dynatrace reported total revenues of $418 million, a 19-percent increase from the same period in 2023.
“Our people-first culture is supported by investing in the workplace experience, both in-office and remote,” Chief People Officer Sue Quackenbush said in a statement.
During the fourth quarter, Boston’s office vacancy rate declined 0.3 percent to 21.4 percent, according to JLL.