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News release

Boston

Avid Technologies Opens World Headquarters in Northwest Park

Audio and video technology company takes occupancy in more than 200,000 SF in Burlington, MA


Boston, August 3, 2010 — Nordblom Company and Nordic Properties are pleased to announce that Avid Technologies, a global provider of digital audio and video production solutions, has opened its new world headquarters in Network Drive at Northwest Park. They have leased 203,000 square feet for a ten year term. Brian Hines and Mike Dalton of FHO Partners represented Avid on this transaction. Jones Lang LaSalle Managing Director Tamie Thompson, Executive Vice President Dan Cordeau, and Assistant Vice President Dan Kollar represented Nordblom in the transaction. Adele Olivier and Todd Fremont-Smith managed the deal from the ownership. Avid has moved from its location in Tewksbury, MA to create this new worldwide corporate headquarters.

Network Drive at Northwest Park is a 950,000 square foot office campus situated on 158 acres. Located directly on Route 3 at the Route I-95 intersection, it consists of an exceptional multi-tenanted office park comprised of seven buildings in a dramatic landscaped setting. Amenities include a central “Winter Garden” with quality cafeteria dining, a large exercise facility, putting green and much more.

Since signing the lease for the space in three buildings in the Park in November 2009, it was a race to the finish for the project team to complete all the project elements by the end of May 2010, including the installation of a new supplemental chilled water system and chiller plant, an elevated pedestrian bridge connecting 75 and 65 Network Drive and the construction of the connector road and sidewalks (including data and fiber connections) to Avid’s third building at 10 North Avenue next door. Gensler Associates and RDK Engineers provided tenant architectural and design services, Spagnolo Gisness and Associates provided bridge design services and Erland Construction was the General Contractor on the project.

Avid Opens World Headquarters at Network Drive – Page 2
“We are pleased with the results of this project and the way the team worked together – the space is spectacular and it clearly illustrates the ownership’s ability to successfully execute complex, large scale projects and meet the individualized needs of sophisticated tenants” said Todd Fremont-Smith from Nordblom Development Company. The Avid project was completed on the heels of the completion of the 130,000 sf Palomar Technology headquarters building at Network Drive in December 2009 and the 138,000 sf tenant build out project for the State of Massachusetts at 1000 Washington Street in downtown Boston in March 2010.

About Nordblom Company and Nordic Properties

Nordblom Company and its investment affiliate, Nordic Properties, is a real estate enterprise with an 85 year history of investing and developing in properties throughout the New England region and select markets across the country. Nordblom currently owns office, commercial and multifamily properties in the New England and North Carolina markets and is committed to creating and operating dynamic work and living environments that further the quality of life for the people who occupy its properties. Nordic has transacted over $1.1 billion of investment and development work totaling over 6 million square feet of office, industrial and residential projects in the past dozen years. Headquartered in Burlington, MA with offices in Boston, Brookline and Raleigh, Nordblom Company has $650 million and 7 million sf in assets under management. For more information, visit www.nordblom.com or www.nordicproperties.com.
 
About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $38 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.