Keurig Dr Pepper Renews 274K-SF Burlington Office Lease

Keurig Dr Pepper has renewed its lease for its Burlington, MA headquarters, even as the company plans a split between its coffee and beverage segments, reported the Boston Business Journal. The lease totals 274,000 square feet, making it one of the largest Boston-area office leases in recent months. It was disclosed in a quarterly market report this week by Cushman & Wakefield.

The renewal also comes as Keurig Dr Pepper’s headquarters property at 53 South Ave. was sold in November for $85 million. Peakstone Realty Trust sold it to Montana Avenue Capital Partners.

Under a plan first announced last August, the coffee business would remain based in Burlington. The other consumer beverage products, including Dr Pepper, Snapple and others, would relocate to Texas.

The renewal exceeds some other large Boston-area office leases in 2025, including Hasbro’s 264,000-square-foot deal to move to the Seaport late this year from Rhode Island, and Klaviyo’s 257,000-square-foot lease renewal and expansion last April.

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