Two tech companies have signed leases at The District in Burlington as part of an expanding strategy of recruiting short-term tenants.
Online security company Edgewise Networks of Cambridge has leased 6,575 square feet while Signavio, a cloud-based platform for business decision management, is occupying 3,427 on the first floor of building 800.
The property owners built out the offices to provide space for growing companies with a quick turnaround, said Andrew Gallinaro, a senior vice president at National Development.
“We looked at it as there’s a little bit of a void. One of our positive attributes is to provide a path for our companies to grow here in Burlington,” Gallinaro said.
The District is a nine-building, 1-million-square-foot office park owned by National Development, Charles River Realty Investors and AEW Capital Management.
National Development already leases an entire 40,000-square-foot building at 1500 District Ave. to Regus Business Solutions. The pop-up offices could be a transition for Regus customers upgrading to larger spaces, Gallinaro said.
“The whole idea of a pop-up suite was if you’re the CEO you could walk into the space and immediately see yourself in an occupancy in a very short period of time,” he said. “We felt they were in the right size range, bigger than you might find in Regus or co-working spaces, but still small enough to accommodate a younger company.”
National Development is looking at other vacant spaces in the complex for conversion to pre-furnished suites averaging 3,000 square feet with shorter, flexible lease terms, he said.
The District’s redevelopment plan includes a Residence Inn by Marriott hotel now under construction, and an Island Creek Oyster Bar and Pressed Cafe, both of which will open in November.
The District is also seeking a tenant for 80,000 square feet of open-format workspace in building 700, which has been renovated and updated with a new 4,000-square-foot roof deck and lounge. Another 20,000 square feet is available for immediate occupancy in the 220,000-square-foot building 800. JLL’s Matt Daniels, Christopher Lawrence, Chris Decembrele and Andrew Whipple are the leasing team for the landlord.