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Long-Term Renewals Dominate Cross Point Towers

LOWELL, MA-Two renewals from JP Morgan Chase and Bitwave Semiconductor for roughly 80,000 square feet, combined, brings the towers to over 80% occupied.

By Ryan Clark | Updated on March 11, 2009

LOWELL, MA-Cross Point Towers is closing in on 100% occupancy with two long-term lease renewals from JP Morgan Chase and Bitwave Semiconductor. The companies are following national trends by hanging onto their current spaces, which combined totals roughly 80,000 square feet in the trophy towers, here, bringing the occupancy to around 88%.

JP Morgan is renewing its 11th floor digs in both towers, holding onto 59,876 square feet. JP repped itself in the transaction. Bitwave, meanwhile, took a long-view look at its 20,190 square feet on the floor seven in Tower 3. The fabless semiconductor company was repped by Parsons Commercial Group.

Two additional leases for Verizon–63,540 square feet– and Cass Information Systems, Inc.–17,500 square feet–which were both leased over the summer, help keep the towers close to filled with only 145,000 square feet still available. CB Richard Ellis and CresaPartners, respectively, represented each company.

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