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DCU PURCHASES FORMER KRONOS BUILDING IN CHELMSFORD – $12.4M

Posted by Ann Salas on October 3, 2017
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BY BOSTON REAL ESTATE TIMES

CHELMSFORD, MA – The Town of Chelmsford, MA announced that Digital Federal Credit Union, better known as DCU, has purchased the building located at 297 Billerica Road – the former headquarters of Kronos.

DCU plans to utilize the space as an additional administrative building. This expansion strategy will allow for needed space to add to their rapidly growing employee base at its two Marlborough, MA offices, satellite call center in Lowell, MA, and Fintech Innovation Center in Boston, MA.

“The Town of Chelmsford welcomes DCU to the Route 129 business corridor,” said Paul Cohen, Chelmsford Town Manager. “DCU is the preeminent credit union in New England. This is a fantastic addition to the Town’s recently rezoned commercial district.”

DCU will be located in one of the critical employment centers of the 495-technology corridor along Route 129 at the intersection of Route 3 and Route 495 and will be joining a number of existing industry clusters, including; defense & homeland security, communications & software, life sciences, and analytical instruments.

“A primary locational decision factor for DCU was the ability for the future expansion of the building and / or parking,” said Evan Belansky, Director of Community Development. “I was pleased to inform DCU that the newly adopted Route 129 zoning overlay not only accommodates future building expansion but specifically incentivizes the construction of parking structures based upon the overlay’s flexible zoning.”

“After an extensive search, we were delighted to identify the new property in Chelmsford for DCU,” stated Garry Holmes, President of R.W. Holmes Realty Co., Inc. “The three story 129,000 square foot office building was custom designed as the corporate headquarters for Kronos. The finishes are impeccable and the building includes numerous collaboration spaces, state-of-the-art data center, outdoor grilling and seating, training rooms, in house café, and shower/locker rooms. The building is literally in move-in condition and creates a tremendous environment for DCU employees.”

“We believe it is important to strengthen our impact in the communities we serve, live, and work in,” said Laurie LaChapelle, DCU’s Vice President of Finance and Chair of DCU for Kids, the credit union’s non-profit charitable foundation. “DCU is committed to making a difference beyond traditional banking for our members and employees. We look at this expansion to be mutually beneficial to the local economy and DCU.”

DCU continues to experience tremendous growth throughout the credit union both with membership and its employee base. Thanks largely to their members who told their friends and families about DCU, the credit union now has more than 670,000 members across the United States. In Chelmsford alone, DCU has over 2,500 members and nearly 42,000 within a 10-mile radius of the town.

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