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Print Edition StoriesTuesday, November 24, 2009
Avid signs Boston area’s biggest suburban lease of the year
By Mass High Tech Staff
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Audio and video company Avid Technology Inc. has committed to a 10-year, 203,000-square-foot lease for a new company headquarters in Burlington’s Northwest Park — the Boston area’s largest suburban lease deal of 2009, according to local real estate executives.
Avid, which now occupies in 183,000 square feet at 1 Park West in Tewksbury, is leasing the new office and research space off Route 128 from Nordblom Co. and Nordic Properties. Avid is scheduled to move into three buildings in the complex in June, occupying all of 75 Network Drive and 10 North Ave. and the first and second floors of 65 Network Drive. The complex will feature an elevated pedestrian bridge connecting the two Network Drive properties.
The deal represents the largest lease transaction of the year in suburban Boston, according to Nordblom. Northwest Park is a 285-acre property located at the Route 128 and Route 3 interchange.
Brian Hines and Michael Dalton, partners at FHO Partners, represented Avid (Nasdaq: AVID). Jones Lang LaSalle Managing Director Tamie Thompson, Executive Vice President Dan Cordeau, and Assistant Vice President Dan Kollar represented Nordblom in the transaction.
In October of last year Avid reported it had partnered with Dextrys Inc. to draw product engineering services from China by establishing a global engineering center. Under the deal, Wakefield-based Dextrys will provide product development, enhancement, testing and localization services to Avid.
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