BEDFORD, MA—Keurig Green Mountain Inc. is expanding its operations in the State of Massachusetts, signing a nearly 42,000-square-foot lease at 201 Burlington Road here for office, research and development functions.
The company that specializes in the manufacturing and sales of specialty coffee, coffee makers, teas and other beverages, is headquartered in Waterbury, VT. However it has its brewer research and development and professional services operations in Burlington, MA.
Keurig signed a lease for 41,705 square feet with 201 Burlington Road owner Nordblom Co. The deal was announced by Transwestern | RBJ. Brian McKenzie, James Lipscomb and John Wilson, partners with Transwestern | RBJ, represented Burlington, MA-based Nordblom in the transaction. Transwestern | RBJ is the exclusive leasing agent for 201 Burlington Road. Cushman & Wakefield's Michael Frisoli and Peter Whoriskey represented Keurig Green Mountain in the deal.
“When Nordblom acquired 201 Burlington Road, we immediately began a significant capital improvement program to make it one of the top assets in the market,” says Alexander Schnip, assistant vice president of real estate management at Nordblom. “Through the work of the Transwestern ¦ RBJ team, we have been able to capitalize on that investment and welcome an excellent company like Keurig.”
201 Burlington Road consists of two connected two-and three-story office buildings totaling 135,000 square feet and has been fully redeveloped into a Class A office complex. Nordblom acquired the complex in 2013 and shortly thereafter embarked on a multi-million dollar capital improvement program. The buildings received considerable improvements, including a complete demo-to-structure renovation that features a dramatic two-story atrium lobby, a new metal façade, upgraded windows, advanced systems and attractive landscape work. Nordblom has also invested in a new, on-site cafe, bike storage, fitness facility and shower/locker facilities to create a first class office campus. The repositioning of the building was completed last fall and Keurig is the first tenant to sign a deal at the property.
“The building was taken back to shell condition, almost back to the steel and then rebuilt from there,” Transwestern | RBJ's McKenzie tells Globest.com. “It is essentially a brand new building.”
Keurig is currently undertaking tenant improvements at the property and expects to take occupancy on July 1. The lease will involve the relocation of a Keurig unit currently housed at 100 Quannapowitt Parkway in Wakefield, MA.
McKenzie says that the popularity of the Bedford-Burlington area, combined with the capital improvements to the building, have sparked considerable tenant interest. Nearby amenities include a wide range of restaurants and retail, as well as MBTA bus service with access to the Alewife train station. Situated in the center of the Route 128/Route 3 Tech Corridor, 201 Burlington Road offers access to the region's central highways and prominent visibility from Route 3 at Exit 26.
“We are in various levels of discussion with a number of different users right now,” he says. Discussions are ongoing with prospective tenants that are looking for anywhere from 30,000 square feet to 80,000 square feet.
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