Equipment leasing company TimePayment has committed to a 70 percent increase in the size of its headquarters at The District in Burlington.

The offices at 1600 District Ave. will expand to 45,000 square feet at the 1.1-million-square-foot mixed-use property.

The company decided to grow in Burlington after an extensive search, CEO Richard Latour said in a statement.

“The transformation of the park to more of a live-work-play environment has been a bit painful to live through, but now that it’s nearing completion, it truly does offer a superior work environment for our employees, both current and future,” Latour said.

National Development, AEW and Charles River Realty Investors acquired the former New England Executive Park property in 2013 for $216 million. The property has added retail space and restaurants including Island Creek Oyster Bar and Pressed Cafe, and a 170-room Marriott Residence Inn is under construction.

Cushman & Wakefield’s Brian Hines and Blake Baldwin represented TimePayment in the lease negotiation, while National Development’s Andrew Gallinaro represented ownership.