News: Front Section
Posted: April 28, 2010
Avid Technologies 203,000 s/f lease wins CBA Suburban Deal of the Year
Avid Technology's lease at Northwest Park has won The Commercial Broker Association (CBA) Suburban Deal of the Year. The Avid Technology lease consists of 203,000 s/f of class A office and flex space at Northwest Park and was one of the largest suburban office leases of 2009. Jones Lang LaSalle represented the landlords Nordblom Company and Nordic Properties in the transaction. FHO Partners negotiated for Avid.
The Avid lease transaction received the award based on the deal's "complexity, ingenuity, market impact and uniqueness, as well as total transaction size and consideration."
The company is relocating its worldwide headquarters to Northwest Park, where it will occupy three buildings within the 285-acre property. Two buildings within the Network Dr. campus will be connected by a climatized pedestrian bridge. The third building is located in the Middlesex Turnpike campus. Nordblom Development Company is overseeing the construction of Avid's new space, which is slated for occupancy in June.
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