"The location they were in worked well for them but the dynamics of the space didn't work," Joseph Crowley, with Meredith & Grew's Boston office tells GlobeSt.com, noting that the company considered several options within a one-mile radius of its existing building. "We did a market tour but it just so happened that the space that worked best for them was just across the parking lot."
The company, which is currently headquartered at 1 Van de Graaff Dr., found that 3 Van de Graaff Dr. could accommodate its expansion plans and signed a five-year lease to take 14, 017 sf in the 291,077-sf, class A office building. The new space, which is 40% larger than its current location, will accommodate the company's projected growth over the next 18 months, Crowley says.
Specifics of the lease were not disclosed but Crowley notes that class A space in the Burlington area generally leases in the low to mid $20-per-sf range. Crowley represented the tenant, while Stephen Murphy and Jason Levendusky with CB Richard Ellis' Boston office represented the owner American Landmark III LLC.
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