With its new 12-year lease at Lowell’s CrossPoint towers negotiated by Cushman and Wakefield, Kronos Incorporated is creating a new, modern, and exciting headquarters to help it attract talent and plan for the future.
The new 435,000 square-foot headquarters at the former Wang Towers will help consolidate the company’s corporate headquarter-based employees – who were previously split among three separate buildings along Route 129 in Chelmsford – as well as create additional room for growth.
The Cushman & Wakefield team of John Boyle, Debbie Howerton, Michael Dalton and Joe Fallon represented Kronos in the deal, which is one of the largest local suburban office relocation transactions in the past five years.
The space is already in the midst of an exciting transformation, and by the summer of 2017, the new facility will support more than 1,200 employees in a location full of prestige.
“By starting from a clean slate, we can build-out a completely modernized, high-tech facility with an open floor plan that beams with natural light,” said Jonathan Proffitt, Kronos’ Senior Director of Global Real Estate & Facilities. “Our new facility inside the Kronos Tower, with additional floors in the second tower, will be befitting of our award-winning WorkInspired culture and the $1.1 billion global software leader that Kronos has become.”
CrossPoint will provide a number of highly desired amenities for Kronites – such as a fitness center, daycare facility, a 500-person auditorium and multiple dining options – to attract talent from across the region and help employees maintain a strong work-life balance.
The lease is another sign of the revitalization of Lowell and resurgence of CrossPoint, which has gone through some challenging times since Wang Labs went out of business in the early 1990s.
Boyle called it a true “changing of the guard” at the landmark property, with Kronos taking up the mantle as one of the largest and most influential technology employers in Lowell, and Massachusetts as a whole.
“Lowell is excited to have Kronos join the city’s business community,” said Kevin Murphy, Lowell City Manager. “Their decision to move to Lowell helps build the city’s reputation as a hub for innovation and technology and we’re thrilled to be able to consider them among Lowell’s top employers.”
This project continues a long-term relationship between Kronos and members of the Cushman & Wakefield team going back more than 25 years to when they were with Fallon Hines & O’Connor. Together, they’ve completed more than 125 different deals during that time.