THE DAVIS COMPANIES COMPLETES REPOSITIONING OF THE XCHANGE AT BEDFORD WITH REVAMPED 14 CROSBY DRIVE
TDC taps JLL to lease amenity-rich campus, now completely transformed for 21st century workforce
BEDFORD, MA – December 20, 2016 – The Davis Companies (TDC) has unveiled the newly transformed 14 Crosby Drive, a 95,000 square foot, first-class office building located within an eight-building, 475,000 square foot campus TDC recently rebranded as The Xchange at Bedford (www.xchangeatbedford.com). TDC has now completed its extensive program to revamp this former outdated office/R&D park into a vibrant campus, bringing a flexible new Class-A work environment with modern onsite and area amenities to the booming Bedford submarket. TDC has tapped JLL as the exclusive leasing agent for the property.
The Xchange is conveniently located one exit north of I-95/Route 128 with proximity to Burlington and Bedford’s five million square feet of quality restaurants, retail, hotels, and healthcare facilities. As a result of TDC’s capital improvements, tenants now have access to onsite amenities that include: a new 4,700 square foot fitness center and yoga studio with showers and locker rooms; a dynamic 7,300 square foot full-service WiFi enabled café; a 3,500 square foot outdoor patio with fire pit; and 5,200 square feet of green space. TDC also increased the total available parking at The Xchange to 1,530 spaces, by adding 225 new parking spaces as well as creating a new front face to the campus on land it purchased from MassDOT in 2015.
“The Xchange is perfect for pioneering companies seeking state-of-the-art workspace in a cohesive, convenient setting,” said Duncan A. C. Gilkey, a Senior Vice President of Asset Management at The Davis Companies. “There is high demand in this thriving submarket for campus office environments. Our repositioning strategy responds to that need.”
“We are thrilled to be re-introducing The Xchange at Bedford to the brokerage and tenant community,” said JLL Managing Director Matt Daniels. “The site provides tenants with robust amenities onsite and nearby, as well as easy access and branding on Route 3. The Davis Companies’ vision for the business campus has been resonating with innovative companies across Greater Boston.”
TDC purchased the former Bedford Business Park, now dubbed The Xchange at Bedford, in June 2012, adding to its portfolio of technology-related properties and positioning itself to continue to grow with the area’s changing tenant base. The property’s tenants’ include: iRobot Corporation, MultiPlan, Inc., and Datawatch Corporation. TDC’s expertise in transforming office parks into prime work environments has helped form a concentration of talent and innovation off of Route-128.
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet across the Eastern United States.
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.