Veracode expands to new Burlington HQ
Security software firm Veracode is moving its corporate headquarters to Network Drive at Northwest Park in Burlington from its current location in Burlington.
The company has signed a lease for 44,000 square feet of Class A office space on the third floor of 65 Network Drive. Terms of the deal were not disclosed. But asking Class A rents in the area were $21.50 in the first quarter.
The move comes on the heels of the company's $30 million venture capital fundraise in April. The company helps large enterprises such as Cisco and Delta find and fix security vulnerabilities in their application code, and CEO Bob Brennan, formerly CEO of Iron Mountain, said the company saw more than $20 million in revenue in 2011 and is expecting to double its revenue this year. The company employs 150.
Veracode plans to open its new office in August at the 1 million-square-foot office campus on Route 3 at the I-95 intersection, moving from 4 Van de Graaff Drive, Burlington. They are joining other companies that have established headquarter locations at the park including Dyax Corp., Avid Technologies, Palomar Medical, Exa Corporation, e-Dialog, Memento and Oracle Corp.
Jones Lang LaSalle(NYSE: JLL) represented the owner Nordblom Co., while CB Richard Ellis/N.E. Partners represented Veracode. The Veracode lease brings the Park occupancy to 96 percent, Jones Lang LaSalle said.