Kronos Inc. has signed a 12-year lease for 435,000 square feet of office space at CrossPoint in Lowell.

As part of the cloud-based workforce management company’s relocation from Chelmsford in mid-2017, it will partner with CrossPoint developers Anchor Line Partners and Farallon Capital Management on a $40 million design and buildout of the space within the former Wang headquarters at 900 Chelmsford St. Work will begin next month.

Cushman & Wakefield’s John Boyle, Joe Fallon, Michael Dalton and Debbie Howerton represented Kronos in the transaction. Andrew Maher, managing director of Anchor Line Partners, along with CBRE/New England’s Mark Reardon, represented ownership.

Kronos employees will occupy the entire first tower – which will be called the Kronos Tower – and parts of the second.

Anchor Line and Farallon acquired the three-tower, 1.2-million-square-foot complex last year for $100 million and have spent more than $10 million on common area amenities. A new Tavern in the Square restaurant is scheduled to open next month.