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Mon, Aug 19
A Compendium of Property & Capital News
Aug 19
A Compendium of Property & Capital News

Continuing Aggressive Growth Plans, The District Burlington Inks Two leases for 259,000 SF

March 13, 2019
The District Burlington, Burlington MA

BURLINGTON–The two largest tenants at The District Burlington have signed long-term lease extensions, a sign that the recent upgrades and investment made to this mixed-use asset are paying dividends for large companies looking to attract top talent. Within the last 9-months, The District has had over 30 leases signed totaling almost 450,000 square-feet.

BAE Systems, the largest tenant at the development, signed a 135,018 square-foot lease extension, extending their access to Greater Boston’s talented and experienced workforce. BAE Systems was represented John Carroll III & Bill Lynch at Colliers. National Development and AEW Capital Management, the ownership venture of The District Burlington, were represented by Michael O’Leary, John Boyle and Elizabeth McLaughlin at Cushman & Wakefield. A second existing tenant also signed a long-term extension for nearly 125,000 square feet.

With more than 80,000 square-feet of new state-of-the-art office space, many open space improvements and 160,000 square-feet of new amenities that includes a hotel, six restaurants and garage parking, The District has become a destination aimed at tenants who not only want to work in, but also play, stay and grow in.

“We’re committed to The District because it is a prime location to seek top talent as we continue to expand our Massachusetts footprint,” said Cheryl Hafferty, Burlington site executive at BAE Systems. “We are actively hiring world-class scientists, engineers, and technology development managers to support the critical research and development work we do in key technology areas such as advanced electronics, autonomy, and cyber resilience.”

“The District is one of the most walkable work/play/stay destinations in Greater Boston, and its location is extremely convenient and accessible,” said Michael O’Leary, Managing Director at Cushman & Wakefield and lead broker for The District. “The recent leases are clear evidence of the benefits that The District offers to tenants. We expect the momentum to continue at the project and the remaining availabilities to fill up quickly, including an incredibly unique 180,000 square foot build-to-suit opportunity.”

“We could not be more excited to extend the relationship with the two largest companies at The District,” said Leah Harsfield, Vice President at National Development. “We know how important healthy food options, amenities and community engagement are to our tenants, and our significant investments at the property reflect what today’s growing companies need and want in a workplace.”

Cheryl Hafferty