Kronos Relocates Headquarters, Prepares $40M Investment alongside Building Owner

Kronos will enter a 12-year lease and is planning, alongside property owner Anchor Line Partners, to invest in excess of $40 million in the modernization of a 400,000-square-feet open space office facility.

By Bogdan Odagescu, Associate Editor

Cross Point Towers, Lowell, Mass.
Cross Point Towers, Lowell, Mass.

BostonKronos Inc., one of the largest technology employers in the Bay State, recently announced that the company plans to move its corporate headquarters from Chelmsford, Mass. to the nearby Cross Point Towers in Lowell. The Lowell office property is managed and leased by CBRE.

Kronos will enter a 12-year lease and is planning, alongside Cross Point owner Anchor Line Partners, to invest more than $40 million in the modernization of a 400,000-square-foot open space office facility occupying all 13 floors of the first tower. Architectural firm Packard Design will work together with Kronos on the implementation of this project.

The property, which saw completion in 1980 and major renovations in 2014, includes 20,000 square feet of retail space and a total of 1,600 parking spaces. Sitting at 900 Chelmsford St. in Lowell, the office complex also includes a 24-hour game room and fitness center, onsite daycare, and a conference center offering a 500-seat auditorium.

The move comes to accommodate Kronos’ recent growth, as the headquarters saw 200 personnel additions in 2015 and many of the current 300-plus job openings are Massachusetts-based. Kronos expects to complete the move by mid-2017.

Aron Ain, CEO of Kronos, commented on the move in prepared remarks, “After a thorough assessment of current employee commute patterns and available real estate, we selected Lowell as our future home. Relocating to Cross Point will unite all local employees under one roof in an entire tower (…) The new space will provide a plethora of amenities to Kronites in an ultra-modern, high-tech, eco-friendly space that will help us continue to attract and retain top talent while accommodating future growth plans.”

Tech company Kronos, founded in Brighton, Massachusetts in 1977 by MIT alumnus Mark Ain, is a world leader in delivering workforce management solutions in the cloud. At the time of publication, the company employed more than 4,700 people worldwide, 1,200 of which located at the main headquarters. With over 25,000 customers in 100 countries, including more than 50 percent of the Fortune 1000 companies, Kronos delivers solutions that control labor costs, minimize compliance, and improve workforce productivity.

Image courtesy of Yardi Matrix