The firm will relocate from 10 Milk St. in Boston, to Building Three in the 288,700-sf Burlington Mall Road office complex. Color Kinetics will spend eight months building out its new office space with high end finishes.
"They felt Burlington was a great address from a recruiting standpoint and it was an amenity-rich area for their employees to have retail and food options both in the bldg and the area," Dan Kollar, with Jones Lang Lasalle's Boston office, tells GlobeSt.com. "It's going to be a great headquarters presence for them."
Kollar says the fully-leased building gives the firm prominent visibility along Route 128 and provides the landlord with a growing, credit-worthy tenant to anchor the fully-occupied business park.
Terms of the lease were not disclosed but lease rates for class A space in Burlington average in the high $20s per sf, Kollar says.
JLL's Kollar, Tyler Spring and Tamie Thompson, negotiated the transaction for landlord Finard Properties. John Hennessey and Steve Lombardi, both with GVA Thompson Doyle Hennessey & Stevens', handled the deal for the tenant.
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