In what Boston Business Journal states could be the largest suburban commercial real estate deal of the year, marketing products provider Vistaprint is expecting to sign a long-term lease for a new 300,000-square-foot headquarters in Waltham, Massachusetts within the next couple weeks. The deal is projected to be more than 10 years.
The Netherlands-based company is one of the world’s leading online suppliers of printed and promotional material as well as marketing services to both businesses and consumers. Its current U.S. headquarters is located in Lexington, Massachusetts. The company will stay there until its lease expires in 2015, then move to its new location in Waltham.
Vistaprint’s original expansions plans came to an abrupt halt when corporate neighbor Related Beal appealed two decisions that would have allowed expansion to take place in Lexington. According to the town’s Economic Development Director Melisa Tintocalis, any legal challenges would place a “significant delay” on the company’s planned expansion.
Moving into a new HQ will alleviate some of the issues Vistaprint is facing with its Lexington office. The company’s current space relies on a small number of parking spaces and downsized cubicles, neither of which are conducive to a rapidly increasing staff and a company looking to expand. (BBJ, WickedLocal)
