New tenant commits to 66,000 SF in Burlington, MA
BURLINGTON, MA, November 17, 2008 – Nordblom Company announces a new occupant at Network Drive at Northwest Park, the 158-acre corporate campus which was acquired in 2007 by Nordblom and its investment affiliate, Nordic Properties, in a sale-partial-leaseback from Sun Microsystems. Exa Corporation is leaving their current Burlington location to create a new corporate headquarters at Network Drive at Northwest Park. Exa Corporation has signed a lease for 66,000 SF of office space at 55 Network Drive – the company’s new worldwide headquarters. Adele Olivier, Senior Vice President, Director of Commercial Property and Asset Management at Nordblom Company , Managing Director Tamie Thompson, Senior Vice President Dan Cordeau and Assistant Vice President Dan Kollar of Jones Lang LaSalle negotiated the long-term lease to Exa Corporation.
Exa Corporation develops, markets, and supports a suite of simulation software applications for digital vehicle design along with professional engineering consulting services. Exa’s products and services enable engineers to create competitive designs, while shortening product design cycles and improving time-to-market. Exa has chosen to move and expand its corporate headquarters and double its space at 55 Network Drive to create a new headquarters and accommodate its expected future growth. Exa currently employs over 200 people, with offices in the United States, France, Germany, Italy, Japan, United Kingdom, Korea and distributors in China and India. Exa’s customers include leaders in the global automotive and commercial vehicle industries.
Featuring a combination of private office spaces and open cubicles, 55 Network Drive consists of 132,000 SF of class A office space on three floors. Completed in 2001, the building consists of two wings linked by an open central lobby and stairwell. The third floor features a convenient satellite café as well as a glass-enclosed walkway which provides a comfortable, all-weather connection to 65 Network Drive next door. Jones Lang LaSalle is handling the tenant improvement work for Exa at 55 Network Drive and is also managing the move-in, which is slated for November 2008.
“We are pleased to be the first new tenant to move into this state-of-the-art, first class Network Drive campus that gives us extensive expansion options to accommodate our growth. Our employees and visitors will benefit from this high technology campus environment,” said Stephen Remondi, President & CEO of Exa Corporation.
“Network Drive at Northwest Park was a logical choice for Exa as it offers the quality of space and infrastructure companies seeking a headquarters location require, as well as expansion possibilities to accommodate future growth needs. We are delighted to welcome Exa to the campus,” said Adele Olivier of Nordblom Company.
About Network Drive at Northwest Park
Featuring contemporary architecture, the campus is designed with an eye for sustainability and expansion. Network Drive at Northwest Park rests on approximately 158 acres at the intersection of four major arteries; Route 128, Route 3, Route 62 and Middlesex Turnpike. Built to institutional standards, the properties feature quality finishes with a robust infrastructure. This first-class office park sits adjacent to the Nordblom-controlled Northwest Park. For more information about the property and leasing and development opportunities, please visit www.networkdriveburlington.com.
About Nordblom Company
Nordblom Company is a Boston-area real estate enterprise specializing in achieving investor and user objectives in the ever-changing real estate environment. Founded in 1924, the company owns, develops, manages, and sells commercial and multi-family properties throughout the New England and North Carolina markets. Headquartered in Burlington, Massachusetts with offices in Boston, Brookline and Raleigh, the Nordblom Company has a 50 year relationship with the Town of Burlington. For more than 80 years, Nordblom Company and its affiliate Nordic Properties have been fixtures in the Greater Boston real estate market, with investment, management, development, and investment brokerage capabilities. Of particular note, Nordblom Company was a pioneer developer of suburban parks along suburban Boston’s Route 128 corridor as the highway was being established in the 1950’s. One of its most prominent developments is the 1.4 million square foot Northwest Park located in Burlington, adjacent to the Network Drive Campus. For more information, please visit www.nordblom.com.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2007 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $53 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.