416,600 SF Leased at Network Drive in Burlington Major Campus Updates Attract and Retain Tenants
Nordblom Company announced today that from the beginning of January 2016, they have leased 416,600 SF at Network Drive at Northwest Park in Burlington. The leasing success is attributable to major campus amenity updates and sustainability initiatives which have attracted new tenants and retained existing tenants.
Oracle, who has been located at Network Drive for seven years, following their 2009 acquisition of Sun Microsystems, renewed their lease for another five years in 310,905 SF. Oracle was represented by Matthew Miller, Managing Principal of Cresa in the transaction, and the landlord was represented by Tamie Thompson, Managing Director, Alexander Dauria, Managing Director, and Tyler Spring, Senior Vice President of Jones Lang LaSalle.
Veracode, a leader in application security solutions, who relocated their headquarters to the Network Drive campus in 2014, has expanded from 58,229 SF to 91,791 SF and extended their lease for five years. Veracode was represented by Chris Crooks, Principal, and Adam Subber, Principal of Cresa.
Network Drive also welcomed new tenant D+H, a leading financial technology provider, to 55 Network Drive taking 13,897 SF for seven years. As the listing agents for Network Drive, Mark Roth, Executive Managing Director, Matthew Malatesta, Managing Director, Brendan Daly, Managing Director and Blake McLaughlin, Associate of Newmark Grubb Knight Frank represented the landlord, and Tyler Ewing, Managing Director for Newmark Grubb Knight Frank, represented D+H.
Coinciding with the leasing efforts, Network Drive recently completed the final phase of a $1,300,000 Amenity Center renovation. In addition to all new upgraded finishes, the Amenity Center now features:
- Conferencing options for both large and small groups, with full AV capabilities;
- Varying and distinct seating options and collaboration spaces, both indoor and outdoor, with all new furniture, and indoor and outdoor gas fire places;
- Indoor and outdoor gaming, with an indoor basketball court, shuffleboard, ping pong, pool tables, arcade tables, a regulation size bocce court, and a putting green;
- Other features include multiple living walls, TV screens, and high speed public Wi-Fi;
- “With companies and employees alike prioritizing engaging and dynamic work place environments, our goal was to solidify Network Drive’s status as having the best-in-class amenities for office campuses in the greater Boston area. We believe we achieved that with these latest renovations,” said Adele Olivier, Senior Vice President with Nordblom.
- This year, all seven buildings at Network Drive also achieved LEED Gold Certification. The robust existing infrastructure combined with initiatives completed during the LEED performance period made this possible. Highlights include:
- High efficiency central plant generated chilled water cooling and “free” plate and frame cooling in the winter months;
- Recommissioning and upgrading of the campus and building management systems;
- Converting all exterior lighting throughout the campus to LED;
- Reduction in water consumption by 75% for irrigation, and 30% for in building domestic water use;
- Alternate transportation options including express MBTA shuttle service from Alewife, free bike sharing for campus employees, bike lockers and racks, and multiple EV charging stations;
- Sustainable food purchasing along with the installation of a community vegetable and herb garden.
“Achieving LEED Certification for Network Drive confirms the ownership’s ongoing commitment to sustainability and energy reduction. We’re proud of the achievement, and are excited to share these achievements with our tenants and for the opportunity to build upon this accomplishment,“ added Ms. Olivier.