According to Nordblom Company and Nordic Properties, Avid Technologies, a global provider of digital audio and video production solutions, has opened its new world headquarters on Network Dr. at Northwest Park. They have leased 203,000 s/f for a ten year term.
Brian Hines and Mike Dalton of FHO Partners represented Avid on this transaction. Jones Lang LaSalle managing director Tamie Thompson, executive vice president Dan Cordeau, and assistant vice president Dan Kollar represented Nordblom in the transaction. Adele Olivier and Todd Fremont-Smith managed the deal from the ownership. Avid has moved from its location in Tewksbury, to create this new worldwide corporate headquarters.
Network Dr. at Northwest Park is a 950,000 square foot office campus situated on 158 acres. Located directly on Rte. 3 at the I-95 intersection, it consists of a multi-tenanted office park comprised of seven buildings in a landscaped setting. Amenities include a central "Winter Garden" with quality cafeteria dining, a large exercise facility, putting green and much more.
Since signing the lease for the space in three buildings in the Park in November 2009, it was a race to the finish for the project team to complete all the project elements by the end of May, including the installation of a new supplemental chilled water system and chiller plant, an elevated pedestrian bridge connecting 75 and 65 Network Dr. and the construction of the connector road and sidewalks (including data and fiber connections) to Avid's third building at 10 North Ave. next door. Gensler Associates and RDK Engineers provided tenant architectural and design services, Spagnolo Gisness and Associates provided bridge design services and Erland Construction was the general contractor on the project.
"We are pleased with the results of this project and the way the team worked together - the space is spectacular and it clearly illustrates the ownership's ability to successfully execute complex, large scale projects and meet the individualized needs of sophisticated tenants" said Todd Fremont-Smith from Nordblom Development Company. The Avid project was completed on the heels of the completion of the 130,000 s/f Palomar Technology headquarters building on Network Dr. in December 2009 and the 138,000 s/f tenant build out project for the State of Massachusetts at 1000 Washington St. in downtown Boston in March.
About Nordblom Company and Nordic Properties
Nordblom Company and its investment affiliate, Nordic Properties, is a real estate enterprise with an 85 year history of investing and developing in properties throughout the New England region and select markets across the country. Nordblom currently owns office, commercial and multifamily properties in the New England and North Carolina markets and is committed to creating and operating dynamic work and living environments that further the quality of life for the people who occupy its properties. Nordic has transacted over $1.1 billion of investment and development work totaling over 6 million square feet of office, industrial and residential projects in the past dozen years. Headquartered in Burlington, MA with offices in Boston, Brookline and Raleigh, Nordblom Company has $650 million and 7 million sf in assets under management. For more information, visit www.nordblom.com or www.nordicproperties.com.