The Davis Companies (TDC) has executed 156,848 s/f in new leases and renewals at The Center at Corporate Dr. since it purchased the property. Formerly known as Burlington Centre, The Center at Corporate Dr. is a 487,000 s/f, master-planned, class-A office park situated on 47 acres off Rte. 3A, at the intersection with Rte. 128. The park consists of four buildings - 10, 25, 30 and 35 Corporate Dr. - and is located 15 miles northwest of Boston. The campus is minutes from the Burlington Mall as well as the area's amenities, including hotels, retail, restaurants and Lahey Medical Center.
TDC has welcomed new tenants to The Center at Corporate Dr., that total 51,157 s/f, including: Robert Half International, 6,320 s/f; Consolidated Edison, 5,302 s/f; GE Ionics,7,036 s/f; 3Si, 7,787 s/f; KnowledgePath, 4,800 s/f; MicroFocus, 9,559 s/f; and CSC Service Works, 10,353 s/f
In addition, a total of 105,691 s/f has been renewed by existing tenants, including: Eascorp which renewed for 15,000 s/f; Ryan Company which renewed its 10,691 s/f lease; and Endurance International which extended and expanded its space by 21,100 s/f to a total of 81,000 s/f at 10 Corporate Dr.
TDC and Principal Real Estate Investors purchased the park in September 2013 with a significant capital improvement plan and amenity package for the property.
This fall, the planned improvements will be completed and the campus will offer a new 7,850 s/f cafeteria with flexible conference space, a 2,100 s/f fitness area with a yoga room, new showers and locker facilities, a 4,500 s/f outdoor patio with activated green space, and numerous collaboration spaces with WIFI connectivity throughout. The campus also features meticulous landscaping, a campus green, and captivating views of Boston's skyline.
The Davis Companies' managing director of asset management Cappy Daume, said, "We strive to create office environments that promote community, collaboration and conservation, together with quality and efficiency. Our goal was to transform this park into a campus setting with a more modern, cohesive feel for our existing and future tenants. We are thrilled that our existing tenants are responding with enthusiasm to the new atmosphere and that new companies have been attracted to the energy that our improvements are creating for the campus."
CBRE is representing The Davis Companies to lease the office park's 64,000 remaining square footage.
"The Center at Corporate Drive's repositioned amenity offerings and campus renovation is exactly what today's companies are seeking in a Class A suburban environment. The Davis Companies and Principal Real Estate Investors have transformed the park to cater to a modern employer-providing a multi-dimensional environment for the way people work today," said Kerry Olson Hawkins, first vice president, CBRE/New England.
TDC's other properties along the Rte. 128 corridor are also experiencing significant leasing activity following expert repositioning by the company. MultiPlan, Inc., iRobot and Datawatch recently committed to a collective 115,077 s/f at The Xchange at Bedford; General Dynamic, PSAV and Biolegend have collectively committed to 161,378 s/f at 100 Rustcraft Rd. in Dedham and One Burlington Business Center, a four-story, 176,886 s/f office building adjacent to Lahey Medical Center, is undergoing a significant repositioning.
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested nearly $3 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns and manages a real estate portfolio of 12 million s/f across the Eastern United States.