BOSTON –InterSystems Corporation, a Boston-based data management and healthcare information systems corporation, announced that it will relocate its corporate headquarters to One Congress, a one-million-square-foot, trophy office development owned through a joint venture between Carr Properties and National Real Estate Advisors, LLC.
The move marks a major milestone for the building, establishing the tower as 100% leased during a historic pandemic lease-up period.
The HYM Investment Group is the local developer of the project together. Carr Properties will manage 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 fuel digital transformation has never been higher and, as InterSystems crosses the $1B revenue level, we need a new global headquarters for the ever-expanding InterSystems family,” said Paul Grabscheid, Vice President of Strategy for InterSystems. “We look forward to expanding into our new home in 2024 at One Congress in the heart of Boston, where our employees can collaborate and continue our rich tradition of excellence and customer success and where we are well positioned to leverage innovations in technology and healthcare.”
“We are thrilled InterSystems has chosen One Congress as their future headquarters location,” said Oliver Carr III, CEO of Carr Properties. “Delivering One Congress fully leased prior to completion speaks to the quality of this development and the unique workplace environment that One Congress will provide to all our valued customers at the building. From the dramatic outdoor roof deck to the onsite food and beverage offerings, and market leading fitness facility, One Congress will offer an unparalleled experience.”
“National Real Estate Advisors is proud to welcome InterSystems as the newest addition to our Bulfinch Crossing development,” said Jeffrey Kanne, President and Chief Executive Officer of National Real Estate Advisors. “One Congress exemplifies National’s commitment to building modern, vanguard assets which seek to generate returns for our investors, strengthen communities, and create good jobs.”
“By choosing One Congress as the new location of their corporate headquarters, InterSytems and their employees will be part of a neighborhood at the center of Boston’s new urban evolution,” said developer Thomas N. O’Brien, managing partner and chief executive officer of The HYM Investment Group. “This is again a strong sign of confidence in Boston’s office market, and we are excited to welcome another distinguished company to One Congress.”
John Barry, Peter McQuaid, and Jeff Landers of CBRE represented One Congress in this transaction. Dave Fitzgerald and Tim Howe of CBRE represented InterSystems Corporation.
One Congress broke ground in June of 2019 and construction is expected to be completed at the end of 2022. InterSystems will join anchor customer State Street Corporation, as well as K&L Gates in this one-million-square-foot office tower.
Established in 1978, InterSystems provides innovative data solutions for organizations with critical information needs in the healthcare, finance, and logistics sectors and beyond. Our cloud-first data platforms solve interoperability, speed, and scalability problems for organizations around the globe. InterSystems also develops and supports data management in hospitals through the world’s most proven electronic medical record, as well as unified care records for health systems and governments through a powerful suite of healthcare data integration solutions. The company is committed to excellence through its award-winning, 24×7 support for customers and partners in more than 80 countries. Privately held and headquartered in Cambridge, Massachusetts, InterSystems has 25 offices worldwide.
Carr Properties is a privately held real estate investment trust that owns, manages, acquires, and develops high-quality properties in Washington, D.C., Boston, Massachusetts, and Austin, Texas. The company currently owns a portfolio of sixteen commercial office properties totaling approximately 5.2 million square feet, one multifamily property totaling 456 units, and two development projects that will add a further 1.7 million square feet of trophy-quality office space to the company’s portfolio. Additionally, 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, D.C., Massachusetts, and Texas markets.
National Real Estate Advisors, LLC is an investment manager, developing, operating, and managing commercial real estate projects across the United States. Recognized as an ESG industry leader, National is focused on environmental sustainability, social responsibility, and strong governance practices to create value for investors and benefits for local communities. Founded in 2000, the firm constructs investment portfolios of modern property assets—apartment, 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 substantial pension trust with a significant amount of assets that are managed by National on a discretionary basis.