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Interactive map of Bedford's Crosby Drive tech hub
Acme Packet Inc., a publicly traded developer of networking equipment and related technologies, is moving from its Burlington headquarters after signing a six-year, six-month lease that carries several renewal and expansion options for a 123,788-square-foot space in Bedford.
The deal at 100 Crosby Drive was inked in late November and calls for Acme (Nasdaq: APKT) to pay $201,155.50 in monthly rent, or the annual equivalent of $19.50 a square foot. That rate does not include the company’s proportional share of taxes and operating expenses for the property. Those costs, once determined, will be added to the company’s rent obligations when the new lease commences June 1, according to a regulatory filing.
Crosby Drive has been collecting tech companies looking for cheaper rents and more abundant space.
Acme vice president of marketing Seamus Hourihan said the move is a cost-saving measure that will enable the company to consolidate its Burlington employees into a single facility. As it stands, the company’s workers are in several locations in Burlington.
Acme has an option to expand the lease by another five years when it expires in November 2016. The company must be occupying at least 50 percent of the leased space to exercise that agreement.
Acme also has an option to lease another 22,337 square feet of space in the same building and holds a right of first offer on any unoccupied space that should free up during its occupancy.
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