A 46-acre mixed-use redevelopment project in Littleton has leased tens of thousands of square feet to a global computer hardware manufacturer in one of the region’s largest leases this year, site developer Lupoli Companies said Tuesday.

The King Street Crossing project is located at 550 King St., just off Interstate 495. In addition to reusing existing buildings on the site, approximately 2.3 million square feet will be converted into multi-purpose buildings and outdoor community spaces.

The project also includes the construction of a new city hall building for Littleton.

Of the planned 600,000 square feet for office and laboratory space, HIPER Global has leased 72,500 square feet for its new U.S. headquarters.

The world-class electronic hardware manufacturer already has offices in North Andover, Marlborough and Atlanta, Georgia. It works with leading technology and defense companies around the world on “computer solutions.”

According to the team at site developer Lupoli Companies, there has been less activity in leasing flexible and office space in “recent years.” This makes HIPER’s commercial lease of this square footage one of the largest deals in the area this year, they said.

“We are very pleased to welcome HIPER Global as our tenant in Littleton,” said Sal Lupoli, CEO and president of King Street Crossing site developer Lupoli Companies, in a press release.

HIPER Global CEO Jim Reinold said King Street Crossing is a “perfect fit” for the company’s “growth and innovative spirit.” He added that the company’s presence in the project will be “more than just office space” and will foster a relationship between community and technology.

Plans for the massive multi-use complex also include 1,089 residential units, a 150-room flagship hotel and outdoor public green space for events and gatherings.

115,000 square feet will be used for restaurants and retail space, and 90,000 square feet will be dedicated to labs and research development. Walkable walkways are expected to wind through the campus.

King Street Crossing is accessible from Exit 80 on I-495 and is just minutes from the MBTA’s Fitchburg Line, the commuter rail service to Boston. Although it is highly visible from the highway and nearby, the developer does not anticipate any noise disturbance.

Phase 1 of the project is scheduled to begin in 2025 and be completed by 2026, according to the site’s master plan approved by the Littleton Planning Board in June.

The first phase includes the construction of two buildings and a parking garage with 740 square meters of retail, restaurant and commercial space as well as 287 residential units.

Construction of the entire complex is expected to be completed by 2037, according to city records, and will include seven phases of construction. The developer said it is difficult to estimate the total cost of the project so early in the process, but it “represents a significant investment in Littleton and the region.”

King Street Crossing is expected to create “thousands” of jobs, similar to another Lupoli project – the similarly sized Riverwalk project in Lawrence – which created 2,000 jobs, the company said.

Since Friday, Lupoli has been negotiating with “several other potential tenants” for the site. Broker CBRE and tenant broker Cushman and Wakefield handled the deal for HIPER Global and Lupoli.