Nov 08, 2019
Work Continues on 455 Grand Union Blvd
Construction is ongoing for 455 Grand Union Blvd in Somerville. The project being developed by Federal Realty Investment Trust will include around 237,600 square feet of office space, 150,000 of which will be home to Puma North America. Office space will accommodate an open floor plan layout with abundant natural lighting and sweeping views. Communal roof terraces will be located on the building’s 6th and 13th floors. Additionally, 6-levels of open-air parking will be constructed within the building's footprint.
Nov 08, 2019
Work Continues on Assembly Row Block 8
Construction is ongoing for Assembly Row Block 8 in Somerville. Assembly Row Block 8 is a 24-story building featuring 500 new apartments, and approximately 26,000 square feet of restaurant and retail space. Multiple amenities will be located on site for residents, including a 4th floor courtyard with a pool & private patios, a rooftop terrace, almost 300 parking spaces and bike storage.
Sep 04, 2019
Steel Framing Underway for New Puma HQ at Assembly Row
Steel framing has started for the upcoming office/retail building at 455 Grand Universal Blvd, the future home to Puma HQ. The building will include around 237,000 square feet of office space on the upper floors with nearly 30,000 square feet of retail and restaurant space below. Construction is expected to be complete in early 2021.
Jul 09, 2019
Cores Climbing for 455 Grand Union Blvd
Two concrete cores are climbing for what will be a 267,000+ square foot commercial building at 455 Grand Union Boulevard in Assembly Row. The project will include around 237,600 square feet of office space, 150,000 of which will be home to Puma North America. Approximately 29,000 square feet of retail and restaurant space and parking for 550 cars will round out the project. Not only will Puma's 450 employees have access to Assembly Row's many shopping, dining, and entertainment destinations but the Grand Union building will include communal roof terraces on the 6th and 12th floors. Construction is expected to be complete in early 2021.
Jul 09, 2019
Steel Framing Kicks Off for 500 Unit Residential Building at Assembly Row
Steel framing has kicked off for the next residential project at Assembly Row on Block 8 of Somerville's live, work, play destination, The Block 8 project is set to include 500 residential units along with around 26,000 square feet of restaurant and retail space. Multiple amenities will be located on-site for residents, including a 4th-floor courtyard with a pool & private patios and a rooftop outdoor terrace.
May 07, 2019
Work Begins on Core for Future Puma Headquarters at Assembly Row
Work has started on the core for the upcoming 300,000 square foot commercial building at 455 Grand Union Blvd in Somerville's Assembly Row. The nearly 300,000 square foot commercial building will be home to Puma North America, who announced in January they will lease 150,000 square feet of space within the project. The Class A office building will feature 550 dedicated parking spaces and approximately 25,000 SF of ground floor retail. PUMA is expected to occupy 455 Grand Union Boulevard in early 2021 with 450 employees relocating from offices in Boston and their current headquarters building in Westford, Massachusetts.
May 02, 2019
Federal Realty Investment Trust Increases Sustainability Efforts with Beekeeping Partnership
Hyperlocal Honey Available To Visitors While The Bee Population Improves
Federal Realty Investment Trust has announced it is joining with The Best Bees Company’s network of client partners committed to making a positive impact on local bee health and advancing global pollinator research. At the outset, three FRT properties – Assembly Row in Somerville, Mass; Linden Square in Wellesley, Mass. and Fresh Meadows in Queens, NY are hosting the colonies of Italian honeybees, which can travel anywhere between 3-5 miles from their beehives to forage. The bees are vegan and subsist on a strict diet of nectar and pollen.
Each property has a hospitality partner that will incorporate the hyper-local honey into menus and special offerings.
-Assembly Row: The two beehives are located in a protected alcove of off the 2nd floor “green” rooftop well at the Row Hotel at Assembly Row
-Linden Square: In Wellesley, the honey will be incorporated into the menus at Door Number 7 and The Cottage
-Fresh Meadows: Partner Blaze Pizza will create a special item with the honey
“The addition of the bees to our properties helps show our connection to the community and our support of our partner The Best Bees Company’s commitment to saving the bee population,” said Matt Ehrie, Vice President of Asset Management for Federal Realty Investment Trust. “We are excited to see how the harvested honey can be incorporated into a variety of products and menus.”
There are a number of environmental benefits to this partnership, including defending against the continuing loss of habitat and improving pollinator health by using our beehives as a data point. By hosting the colonies, and using the honey in local products, FRT is demonstrating the company’s commitment to the environment while offering something new and unique for our shoppers. Otherwise unused rooftop and ancillary spaces are now activated and being put to good use.
Mar 01, 2019
Assembly Row's Next Residential Project is Underway
Site work has started at Assembly Row Block 8 for the upcoming mixed-use building that will bring another 500 residential units to the Somerville neighborhood. Block 8 will also include over 26,000 square feet of restaurant and retail space. Residential amenities are set to include a 4th-floor courtyard with a pool & private patios and a rooftop outdoor terrace.
The project sits next to the Orange Line MBTA station and Montaje, completed in 2017, with rents ranging from around $2200 per month for studios up to $5000 for three bedroom units.
Feb 28, 2019
Construction Launches for 455 Grand Union Blvd. at Assembly Row
Federal Realty Investment Trust broke ground on 455 Grand Union Boulevard at Assembly Row earlier this week with Somerville Mayor Joseph Curtatone and PUMA North America CEO Bob Philion. PUMA has signed a lease for 150,000 square feet to anchor the new 300,000 square foot retail and office building as the company’s North American headquarters. This celebration marks the launch of Phase 3 of the development, which also includes a new 24-story, 500-unit apartment building with ground floor retail space, across from the Assembly Square MBTA T station.
Beyond Phase 3, Federal Realty has approximately five more acres of developable land that has been entitled to accommodate up to 1.5 million square feet of office and/or lab development.
At the completion of Phase 3, Assembly Row will include over 55 shops, 22 restaurants, 1,514 residential units, over 1.1 million square feet of Class A office space, and The Row Hotel, a 158-room Marriott Autograph Collection Hotel, which opened in 2018.
“PUMA, a worldwide leading sports brand, sees the long-term value of the dynamic, transit-oriented Assembly Row experience and Somerville’s creative energy, as well as the amenity-rich location” noted Patrick McMahon, senior vice president, regional development for Federal Realty Investment Trust. “We look forward to collaborating with both the City and PUMA and welcoming more like-minded companies to this destination campus environment.”
As part of Federal Realty’s partnership with the city of Somerville, Phase 3 is expected to generate approximately 600 construction jobs and approximately 900 permanent office jobs. In addition to annual taxes, the project will yield $5.6M in building permit fees and the contribution of $12M over the next several years to the creation of affordable housing in the City.
Designed by Jacobs, the 13-story Class A office building with 550 dedicated parking spaces and approximately 25,000 square feet of ground-floor retail will be home to PUMA North America’s new headquarters. PUMA is expected to occupy 455 Grand Union Boulevard in early 2021 with 450 employees relocating from its current offices in Boston and Westford, Mass. 455 Grand Union Boulevard is now under construction and over 50 percent pre-leased. Cranshaw Construction is the general contractor and Copley Wolff Design Group is the landscape architect for the project. The neighborhood's existing office space at 450 Artisan Way is currently 100 percent leased. Additionally, Partners Healthcare is headquartered at Assembly Row with 730,000 square feet of office space.
“We’re excited to have officially broken ground on the new headquarters of PUMA North America,” said Bob Philion, president and CEO of PUMA North America. “We’re confident that our new Assembly Row location will help us bolster PUMA’s presence in North America. We look forward to becoming an integral part of the Somerville community and taking advantage of everything this vibrant city has to offer our employees.
Patrick McMahon, SVP, Regional Development Federal Realty Investment TrustMatt Ehrie, VP, Regional Portfolio Manager, Federal Realty Investment TrustAdam Petrik, Global Director of Brand and Marketing, PUMAKatjana Ballantyne, Councilor, Ward 7 and Council President, City of SomervilleBob Philion, President & CEO PUMA North AmericaJoseph Curtatone, Mayor, City of SomervilleDon Wood, President, and CEO, Federal Realty Investment TrustGeorge Proakis, Executive Director, Office of Strategic Planning and Community Development, City of SomervilleTom Galligani, Director of Economic Development, City of SomervilleBrad Dutton, V.P. Regional Construction, Development, Federal Realty Investment TrustDavid Middleton, General Manager, Assembly Row
Feb 14, 2019
Federal Realty Investment Trust Makes Key Promotions For Northeast Team
Looks to deep bench of talent to establish next generation of leaders, fueling continued growth
Federal Realty Investment Trust announced a slate of key promotions for its Northeast team today to support the company’s continued growth in 2019 and beyond. In addition to its flagship, mixed-use neighborhood, Assembly Row, the Northeast team oversees nearly 3.7 million square feet of commercial real estate in this region, including neighborhood and regional shopping centers, and residential, office and retail mixed-use projects in Connecticut, New York, and Massachusetts.
“The Northeast team brings strong industry experience combined with extensive regional knowledge to this portfolio,” noted Wendy Seher, executive vice president, Eastern Region for Federal Realty Investment Trust. “As we continue to identify value-enhancing opportunities within the region, these promotions, which are evidence of Federal Realty’s deep bench of talented professionals, will allow us to continue to build on our momentum of long-term, sustainable growth for years to come.”
Patrick McMahon has been appointed senior vice president, regional development. Mr. McMahon joined Federal Realty in 2013. With nearly 20 years of real estate development experience, he is responsible for the management of the Trust’s development pipeline in the Northeast.
Liz Ryan is now vice president, regional leasing. Ms. Ryan joined Federal Realty in 2015 and has over 15 years of retail leasing experience. In this role, she leads the leasing and merchandising activities for the Trust’s Northeast and Chicago assets.
Mark Brennan is now vice president, regional development. Mr. Brennan, who joined the Trust in 2017, has been active in real estate development for over 15 years. In this role, he is responsible for all phases of development for the Trust’s New York assets.
Brad Dutton is now vice president, regional construction. Mr. Dutton joined Federal Realty in 2015 and has over 20 years of construction experience. In this capacity, he manages all phases of construction for the Trust’s Northeast portfolio.
Matt Ehrie has been promoted to vice president, regional portfolio manager. Mr. Ehrie joined Federal Realty in 2015 and has over 30 years of asset management experience. In this capacity, he oversees the strategy and performance of the Trust’s Northeast portfolio.
Jan 18, 2019
PUMA Leases 150K SF in Upcoming Phase 3 of Assembly Row
Federal Realty Investment Trust has signed a lease for 150,000 square feet with PUMA North America to anchor a new 300,000 square foot office building, with ground floor retail space, at 455 Grand Union Boulevard at Assembly Row, the rapidly growing, mixed-use neighborhood just minutes from downtown Boston. In addition to 455 Grand Union Boulevard, Phase 3 of development includes a new, 24-story, 500-unit apartment building, with ground floor retail space, across from the T station. Beyond Phase 3, Federal Realty has approximately 5 more acres of developable land that has been entitled to accommodate up to 1.5 million square feet of office and/or lab development.
“Somerville is a vibrant city full of creative energy, easy to get to, and with a spirit that aligns well with our brand,” said Bob Philion, president and CEO of PUMA North America. “We get all the benefits of being in such proximity to downtown and many of our region’s most diverse communities located along the orange line while mitigating commute times for our suburban employees.”
Designed by Jacobs, the 13-story Class A office building with 550 dedicated parking spaces and approximately 25,000 SF of ground floor retail will be home to PUMA’s North American headquarters. PUMA is expected to occupy 455 Grand Union Boulevard in early 2021 with 450 employees relocating from offices in Boston and their current headquarters building in Westford, Massachusetts. 455 Grand Union Boulevard is now under construction and over 50% pre-leased.
“PUMA’s decision to move their headquarters to Assembly Row would not have happened without FRIT’s commitment to work with us to go beyond just building buildings and instead to create Greater Boston’s newest and most vibrant transit-connected neighborhood,” said Mayor Joseph A. Curtatone. “With companies like Partners HealthCare, SmartBear, and now PUMA, the momentum just continues to build in Assembly. We look forward to introducing PUMA—and all the employers to come—to our diverse and talented workforce.”
At the completion of Phase 3, Assembly Row will include over 55 shops, 22 restaurants, 1,514 residential units, over 1.1M SF of Class A office space and The Row Hotel, a 158-room Marriott Autograph Collection Hotel.
“We have spent the past ten years working with the City of Somerville to create a dynamic neighborhood that attracts world-class companies,” said Patrick McMahon, vice president development at Federal Realty Investment Trust. “We are excited that PUMA has placed long-term value on the Assembly Row location, our expansive array of high-quality amenities, vibrant mix of uses and direct access to the T and highway. We look forward to welcoming the PUMA team with our more than 10 soccer fields worth of amenities and watching PUMA sustain its position as an international leader in the sports brand world.”
Aug 30, 2018
Corcoran Management Acquires Parcel at Chelsea Commons
Corcoran Management Company has acquired a parcel located at 1100 Revere Beach Parkway for $14.76 million.
The property is ln the dense urban community of Chelsea and features 222,000 square-feet of built property on a 36.5-acre parcel including 768 parking spaces. It is anchored by Home Depot and CVS, this property offers services including fast casual dining, health and beauty, fitness, and apparel. The property has a daily traffic of 39,600 vehicles.