The Davis Companies Completes $8m Capital Improvement Amenities Program at The Center at Corporate Drive

Boston-based owner and developer creates vibrant campus setting in Burlington, Mass.

BOSTON – February 1, 2016 – The Davis Companies (TDC) announced today that it has completed its transformative campus improvement plan at The Center at Corporate Drive in Burlington, MA.  The Center at Corporate Drive is a 487,000-RSF, Class-A office park situated on 47 acres off Route 3A at the intersection of Route 128. The Center consists of four buildings – 10, 25, 30 and 35 Corporate Drive – and is located 15 miles northwest of Boston. TDC employed its deep repositioning expertise to re-envision the former Burlington Centre into The Center at Corporate Drive, a cohesive, contemporary campus with cutting edge amenities that offers a unique, vibrant setting in the Burlington office submarket. The property offers easy access to Route 128, and is minutes from the Burlington Mall, Lahey Medical Center, and a variety of hotels, retail and restaurants.

TDC and Principal Real Estate Investors purchased the park in September 2013, with a significant capital improvement plan, including more than $8 million in renovations. Now completed, the campus boasts a new 7,850-square-foot cafeteria with flexible conference space, a dynamic 2,100-square-foot fitness area with a yoga room, new showers and locker facilities, a 4,500-square-foot outdoor patio with a town green space that provides a great environment for outdoor gatherings and activities and numerous common collaboration areas with WIFI connectivity throughout. The campus also features refined landscaping and captivating views of Boston’s skyline.

The Davis Companies’ Senior Vice President of Asset Management Gary Hofstetter said“We’ve achieved our goal to transform this park into a campus with a vibrant atmosphere that offers our tenants features that increase convenience and a balanced work / lifestyle. Our suburban repositioning strategy has proven to be very successful. We are proud to apply it to this asset to create a rare product in this immediate submarket of Burlington, comprising both a state of the art office environment and beautiful, accessible open space in a location that’s highly convenient. Tenants are already enjoying the campus and giving us positive feedback.”

The Center at Corporate Drive is currently home to: Robert Half International, Consolidated Edison, Knowledge Path, Microfocus, CSC Service Works, Eascorp, Ryan Company, Everbridge and Endurance International Group.

Located in one of the most dynamic submarkets in Greater Boston, The Center at Corporate Drive is one of Burlington’s premier suburban office parks. TDC’s latest upgrades to the property create an ideal, amenity-rich live/work/play environment.

“The new improvements recently completed at The Center at Corporative Drive are transformative. The new café, coffee bar, fully equipped fitness center, and activated green space have created a collaborative and cohesive environment,” said Kerry Olson Hawkins, First Vice President at CBRE. “The Davis Companies and Principal Financial have raised the bar in terms of suburban office product and provided a best in class amenity package to their quality tenant base. We are proud to be a part of this innovative project.”

Other properties TDC has transformed into prime work environments include:  The Xchange in Bedford, MA, which TDC transformed into a contemporary, engaging office campus with cutting edge amenities; The Westport Center for Health in Westport, CT, where TDC adapted a  former four building office complex to create a much needed medical office center; The River City Residence portfolio, consisting of 29 residential buildings in Richmond, VA, which TDC is renovating to improve the buildings’ interiors and exteriors; and, CrossPoint at Valley Forge in Wayne, PA, which TDC upgraded to become a Class A, LEED Gold-certified and Energy Star-rated office building.

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 nearly $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.

Contact: Lauren Michaels
617-533-5014
lmichaels@solomonmccown.com