National Development renews/expands State Street lease at The District Burlington

Burlington, MA State Street, one of the leading U.S. financial services firms, has signed a major lease renewal at The District Burlington, located at 700 District Ave. The agreement includes the renewal of 147,000 s/f with a 15,000 s/f expansion, totaling 162,000 s/f, and extends the lease through May 31, 2037.

Earlier this year, National Development renewed tenant leases totaling more than 130,000 s/f from COMSOL, Black Duck Software, and Regus. In addition, two on-campus dining destinations, Press Café and Tuscan Kitchen, have extended their leases through 2037.

This lease renewal/expansion underscores State Street’s approach to workplace flexibility, providing its more than 8,000 employees with the ability to work across its offices in Boston, Burlington, and Quincy. This strategy supports a flexible, hybrid workforce, boosting collaboration and productivity while reducing daily commute times.

“Our vision for The District has always been to offer a next-generation workplace that combines high-performance office space with curated amenities and a vibrant, convenient location,” said Maura Moffatt, director of asset management of National Development. “We’re proud that State Street is continuing to grow here, leveraging The District’s dynamic environment to support its evolving workforce and strategic workplace plan.”

Situated in the town’s eight million s/f of Class A commercial space, The District offers 1.3 million s/f of workspace for companies. Tenants enjoy access to a  suite of amenities, including nearly 200 walkable restaurant and retail destinations, an on-site 170-key Marriott Residence Inn, complimentary parking and EV charging stations, a rooftop deck, a one-mile walking loop, a fitness center and fresh produce through Green City Growers.

Additionally, The District comes alive with a robust calendar of events designed to foster community and employee engagement.

With its design, natural light, and visibility from Rte. 128 — seen by over 225,000 commuters daily — The District stands out as a premier location for businesses.