BOSTON-InterSystems Corporationa Boston-based data management and health information systems company, announced that it will be relocating its corporate headquarters to Boston A congressa 1 million square foot trophy office development owned by a joint venture between Carr properties and National Real Estate AdvisorGMBH.
The move represents an important milestone for the building as the tower has been 100% occupied during a historic pandemic lease period.
That HYM investment group is the local developer of the project together. Carr Properties will chair One Congress upon completion. InterSystems will occupy 420,000 square feet on the top fourteen floors of One Congress.
“The demand for advanced software to power digital transformation has never been greater, and as InterSystems surpasses $1 billion in revenue, we need a new global headquarters for the ever-growing InterSystems family,” said Paul Grabscheid, Vice President of Strategy at InterSystems. “We look forward to expanding into our new home at One Congress in the heart of Boston in 2024, where our employees can work together and continue our rich tradition of excellence and customer success, and where we are well-positioned to drive innovation in technology and healthcare use. ”
“We are very pleased that InterSystems has chosen One Congress as its future headquarters,” said Oliver Carr III, CEO of Carr Properties. “The delivery of One Congress, fully leased prior to completion, speaks to the quality of this development and the unique working environment that One Congress will offer all of our valued customers in the building. From the dramatic alfresco rooftop terrace to the on-site food and beverage offerings and market-leading fitness facilities, One Congress offers an experience like no other.”
“National Real Estate Advisors is proud to welcome InterSystems as the latest addition to our Bulfinch Crossing project,” said Jeffrey Kanne, President and Chief Executive Officer of National Real Estate Advisors. “A convention demonstrates National’s commitment to building modern, avant-garde assets aimed at generating returns for our investors, strengthening communities and creating good jobs.”
“By choosing One Congress as the new location for its corporate headquarters, InterSystems and its employees will become part of a neighborhood in the center of Boston’s new urban development,” said developer Thomas N. O’Brien, managing partner and chief executive officer of The HYM Investment Group. “This is yet another strong sign of confidence in the Boston office market and we are pleased to welcome another respected company to One Congress.”
CBRE’s John Barry, Peter McQuaid and Jeff Landers represented One Congress in this transaction. CBRE’s Dave Fitzgerald and Tim Howe represented InterSystems Corporation.
One Congress broke ground in June 2019 and construction is expected to be complete by the end of 2022. InterSystems will be building in this 1 million square foot office tower along with anchor customer State Street Corporation and K&L Gates.
Founded in 1978, InterSystems provides innovative data solutions to businesses with critical information needs in healthcare, finance, logistics and beyond. Our cloud-first data platforms solve interoperability, speed and scalability problems for companies around the world. InterSystems also develops and supports hospital data management through the world’s most trusted electronic medical record, as well as unified nursing records for healthcare systems and governments through a powerful suite of healthcare data integration solutions. The company is committed to excellence through award-winning, 24/7 customer and partner support in more than 80 countries. InterSystems is privately held and headquartered in Cambridge, Massachusetts. InterSystems has 25 offices worldwide.
Carr Properties is a private real estate investment trust that owns, manages, acquires and develops quality real estate properties in Washington, DC, Boston, Massachusetts and Austin, Texas. The Company currently owns a portfolio of sixteen commercial office properties totaling approximately 5.2 million square feet, a 456 unit multifamily building and two development projects that will add an additional 1.7 million square feet of trophy quality office space to the Company’s portfolio. In addition, Carr Properties currently manages three third-party properties totaling 1.4 million square feet. Carr Properties continues to expand through strategic investments in the Washington, DC, Massachusetts and Texas markets.
National Real Estate Advisors, LLC is an investment manager that develops, operates and manages commercial real estate projects throughout the United States. As a recognized ESG industry leader, National focuses on environmental sustainability, social responsibility and strong governance practices to create value for investors and benefits for local communities. Founded in 2000, the firm creates investment portfolios of modern real estate assets – residential, office, mixed-use, medical/healthcare, industrial (including data centers) and hospitality.
National is an independently operated subsidiary of the National Electrical Benefit Fund (“NEBF”), a major pension fund with significant assets managed by National at its discretion.