NEWTON, MA—Paytronix Systems Inc. has nearly tripled its corporate headquarters operations here, bringing the Chapel Bridge Park complex to near full occupancy.
Paytronix, a growing provider of reward program solutions to restaurants and retailers, expanded its headquarters from 12,383 to 33,283 square feet. The deal, along with a 3,571-square-foot lease with Ixxus Limited for its U.S. headquarters, brings the 250,000-square-foot park to 95% occupancy. The two transactions were reported by brokerage firm Transwestern, which represented the park's ownership Chapelbridge Park Associates in the transactions.
Paytronix relocated from 55 Chapel St. to the 80 Bridge St. building inside the Chapel Bridge Park, which consists of eight office and research and development buildings along Chapel and Bridge streets. Transwestern's Ron Friedman, Rob Byrne, Chris Mullen, and Perry Beal represented Chapelbridge Park Associates in both lease deals. Ted Lyon and Michael O'Leary of Cushman & Wakefield represented Paytronix. Warren Brown of Boston Commercial Properties handled lease negotiations for Ixxus Limited, a publishing solutions firm that relocated its headquarters from Washington Street in Newton to the Chapel Bridge Park campus.
“The extensive capital improvements implemented at Chapel Bridge Park have transformed it into a highly desirable environment for a wide variety of tenants, demonstrated by the 20 new leases signed since 2013,” says Transwestern's Byrne. “When we were awarded this assignment, Chapel Bridge Park was at just 30% occupancy, so it's rewarding to see such a significant return on the ownership investment.” The only available space at the park is the former Paytronix headquarters space at 55 Chapel St.
Paytronix officials say the headquarters expansion will accommodate its expanding workforce. “We are very fortunate to have this wonderful new office space, built out specifically to match our needs and culture. Paytronix has twin challenges of growing quickly and competing for the best talent in the competitive Boston marketplace. By tripling our Boston footprint, we can continue to recruit the great talent here in the Boston market,” says Andrew Robbins, president and co-founder of Paytronix Systems, Inc.
Paytronix reports it has added thousands of restaurant locations in the past year, along with a 20% increase in overall headcount, adding employees to meet the growing demand for mobile engagement and CRM, loyalty programs and data-driven marketing for its customers that include national restaurant brands like Bloomin' Brands, Denny's, California Pizza Kitchen and Captain D's. The firm in the last few years has expanded into the convenience store market with chains such as Thornton's.
Locally, Paytronix works with a number of Boston's restaurant brands including Panera Bread, Papa Gino's/D'Angelo's Grilled Sandwiches, JP Licks and others.
NEWTON, MA—Paytronix Systems Inc. has nearly tripled its corporate headquarters operations here, bringing the Chapel Bridge Park complex to near full occupancy.
Paytronix, a growing provider of reward program solutions to restaurants and retailers, expanded its headquarters from 12,383 to 33,283 square feet. The deal, along with a 3,571-square-foot lease with Ixxus Limited for its U.S. headquarters, brings the 250,000-square-foot park to 95% occupancy. The two transactions were reported by brokerage firm Transwestern, which represented the park's ownership Chapelbridge Park Associates in the transactions.
Paytronix relocated from 55 Chapel St. to the 80 Bridge St. building inside the Chapel Bridge Park, which consists of eight office and research and development buildings along Chapel and Bridge streets. Transwestern's Ron Friedman, Rob Byrne, Chris Mullen, and Perry Beal represented Chapelbridge Park Associates in both lease deals. Ted Lyon and Michael O'Leary of Cushman & Wakefield represented Paytronix. Warren Brown of Boston Commercial Properties handled lease negotiations for Ixxus Limited, a publishing solutions firm that relocated its headquarters from Washington Street in Newton to the Chapel Bridge Park campus.
“The extensive capital improvements implemented at Chapel Bridge Park have transformed it into a highly desirable environment for a wide variety of tenants, demonstrated by the 20 new leases signed since 2013,” says Transwestern's Byrne. “When we were awarded this assignment, Chapel Bridge Park was at just 30% occupancy, so it's rewarding to see such a significant return on the ownership investment.” The only available space at the park is the former Paytronix headquarters space at 55 Chapel St.
Paytronix officials say the headquarters expansion will accommodate its expanding workforce. “We are very fortunate to have this wonderful new office space, built out specifically to match our needs and culture. Paytronix has twin challenges of growing quickly and competing for the best talent in the competitive Boston marketplace. By tripling our Boston footprint, we can continue to recruit the great talent here in the Boston market,” says Andrew Robbins, president and co-founder of Paytronix Systems, Inc.
Paytronix reports it has added thousands of restaurant locations in the past year, along with a 20% increase in overall headcount, adding employees to meet the growing demand for mobile engagement and CRM, loyalty programs and data-driven marketing for its customers that include national restaurant brands like
Locally, Paytronix works with a number of Boston's restaurant brands including Panera Bread, Papa Gino's/D'Angelo's Grilled Sandwiches, JP Licks and others.
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