National Development and Cushman & Wakefield are pleased to announce the execution of 150,000 square feet of office leases in 10 deals at The District Burlington this spring and summer, which represents more leasing than any other suburban office project year-to-date. In addition to the office leases, The District Burlington has leased 100% of the available 30,000 square feet of retail space.
Located in one of Greater Boston’s hottest suburbs, The District Burlington is a 1.3 million square foot development that provides tenants and visitors with the ideal live, work, play, and grow environment. Over the last year, The District Burlington has become home to a number of new tenants, ranging from technology and development companies to high end restaurants, which are expected to open in Q2 of 2018.
Since January 2017, Cushman & Wakefield has executed three lease expansions for tenants including Charles River Development at Building 700 for 23,000 square feet, BlackDuck Software at Building 800 for 23,000 square feet, and BAE Systems at Building 900 for 3,500 square feet. There have also been six new relocations to The District Burlington including Decision Resources Group at Building 100 for 20,000 square feet, scPharmaceuticals at Building 2400 for 13,300 square feet, PayFactors at Building 100 for 5,600 square feet, Prevalent at Building 1600 for 3,800 square feet, Aqua Security at Building 800 for 3,200 square feet and Paques at Building 2400 for 2,000 square feet. In addition, there has also been a lease renewal and expansion for TimePayment at Building 1600 for 41,000 square feet. All told, these transactions total approximately 150,000 square feet. Cushman & Wakefield represented the landlord, National Development, in all of these transactions.
The District Burlington is excited to add additional retail amenities including two new restaurants, a high-end salon, and a hotel within the coming months. Residence Inn by Marriott will open in late 2017, Mane & Mani will open in November of 2017, and in Spring of 2018, Black & Blue Steak and Crab, a New York-based restaurant, and modern Asian and sushi concept, Feng Shui, will open.
“With the addition of the Residence Inn by Marriott, as well as the restaurants and salon, The District Burlington is truly becoming the area’s most coveted office location,” said Leah Harsfield, Vice President of Asset Management at National Development. “The location and live, work, play environment that exists within The District Burlington is unprecedented and we look forward to continuing to make it a destination location. The District Burlington is where top talent wants to be.”
“It has been a pleasure working with National Development and watching The District Burlington become the office and retail epicenter it was destined to be,” said Michael O’Leary, Managing Director at Cushman & Wakefield, who is spearheading leasing efforts. “I look forward to the continued growth that is sure to come to The District as it further establishes itself as the premier suburban location for corporate and retail tenants alike.”
The District Burlington is unique in its ability to accommodate tenants ranging in size from 2,000 square feet in existing space to 180,000 square feet in a build-to-suit opportunity. In addition to seven restaurants, tenants and visitors also have access to an abundance of free parking, a dedicated District shuttle with service to the MBTA Red Line (Alewife Cambridge Station), first class fitness amenities including a gym, LifeCycle spin studio, OMMM Space, and a community roof deck, a 200-key on campus hotel and campus-wide bike sharing by Zagster. Burlington’s growing cluster of urban amenities makes it an increasingly popular choice for tech companies who seek a Cambridge-like atmosphere at a lower cost.
About National Development
National Development is one of the largest development and asset management companies in New England. Since 1983, National Development has developed over 28 million square feet in over 45 communities. The company’s staff of over 200 have a hands-on approach that allows us to work closely with local communities, stay at the forefront of tenant needs, and execute thoughtful design and construction of commercial projects. Follow us on Twitter @nationaldevelop
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.