Momentum Continues at Cross Point

| July 29, 2016

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Lowell, MA – Anchor Line Partners and Farallon Capital Management LLC recently announced long time tenant ARRIS’s renewal of itslease to CrossPoint in Lowell. This announcement comes on the heels of Kronos Incorporated initiating their $40 million build out last month, and the official announcement of Tavern in the Square’s opening.

 

  • ARRIS, a global leader in entertainment and communications solutions, has entered into a 10-year lease commitment for 143,594sf on Floors 1-3 in Tower 3 of CrossPoint. The new term will take ARRIS through 2026 at CrossPoint. As a global innovator in IP, video and broadband technology, ARRIS continually works with customers to solve the most pressing challenges of 21st century communications.

“ARRIS is one of the most influential technology and communications companies in the world, and we are thrilled they have solidified another long term at CrossPoint,” said Rocky Fried, Managing Member at Farallon Capital Management. “CrossPoint’s latest upgrades emulate the energy, collaboration, innovation many companies like ARRIS seek in an office space, and we anticipate that this business community will continue to grow and thrive.”

  • Kronos announced plans earlier this year to relocate its U.S. corporate headquarters to Cross Point in Lowell. and unite employees under one roof, occupying all 13 floors, with over 435,000sf of office space, in Tower 1 and Tower 2. Anchor Line Partners, which purchased Cross Point in 2014, along with investment partner Farallon Capital Management, plan to invest more than $40 million to design and build-out a completely modernized facility across nearly 435, 000sf of office space that represents the Kronos WorkInspired
  • “We invested more than $11 million into our amenities on spec at CrossPoint. It is great seeing these new amenities attract Kronos and retain Arris, said Andrew Maher, Anchor Line Partners. CrossPoint is now the hottest building in Greater Boston.”

 

  • The highly anticipated new Tavern in the Square restaurant, bar, and patio is now open.

Farallon Capital Management and Anchor Line Partners have invested more than $11 million already to meet the evolving needs and expectations of the modern workforce, with flexible work environments, easy access, and an amenity rich campus.

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Category: All, Real Estate