Federal Realty is a proven leader in the ownership, operation, and redevelopment of high quality retail real estate in the country’s best markets. Built upon foundations of opportunity, we take a disciplined approach to every aspect of commercial retail real estate. Whether it's redevelopment, property management, or acquisitions, we make sound, strategic decisions based on solid demographics, broad experience, and stable resources. This has led to a high quality portfolio of assets. We turn commercial real estate into exciting destination retail centers that suit their exceptional locations.
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.
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.”
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.
XSS Hotels Acquires Boutique Hotel Within Alloy at Assembly Row
New Hampshire-based, XSS Hotels has acquired the hotel portion of Alloy at Assembly Row for $37.29 million. The hotel is a 159-key Marriott Autograph Collection boutique hotel on levels two through five.
The property features a 13-story mixed-use building featuring 122 condominium residences on levels six through 13, the hotel on levels two through five and approximately 21,000 square feet of first-floor restaurant and retail space. Residences at Alloy range from studios to three-bedrooms; the building's 107 luxury residences are sold out. 15 residences at Alloy are designated affordable and will be offered through a lottery.
Callahan completes 20-story Montaje luxury apartment tower at Assembly Row in Somerville
Callahan Construction Managers has completed Montaje for Federal Realty Investment Trust. The 768,000-square-foot luxury apartment and retail development, located at the heart of Assembly Row in Somerville, features a landmark 20-story, 236-foot-tall tower and a 77-foot-tall, six-story, wood framed building. Designed by Stantec, Montaje features 447 studio, one-bedroom, two-bedroom and three-bedroom residences that are outfitted with luxurious finishes, including quartz countertops and stainless steel appliances.
At Montaje’s summit is a top-floor Sky Lounge featuring striking views of Boston and the nearby Mystic River. The Sky Lounge includes an outdoor roof deck, a chef’s kitchen, a dining area and a media/living room. A second, lower level courtyard features grilling stations, a bocce court and an outdoor fireplace. Additional Montaje amenities include a resort-style swimming pool, a fitness center with a yoga studio, artist space, a resident lounge featuring a billiards table and a meeting room. A seven-story precast parking garage with space for 650 cars has also been constructed on site.
On Montaje’s ground floor is 40,000 square feet of retail, home to multiple shops, restaurants and bars including MidiCi Pizza, Ann Taylor Factory Shop, Yankee Candle, Fragrance Outlet, Columbia Sportswear Company, Mass General Hospital and American Fresh Brewhouse. Montaje is located next to the Assembly MBTA Orange Line station and minutes from Interstate 93, offering a short commute to Downtown Boston and Cambridge by transit or car.
First luxury condominiums at Somerville’s Assembly Row sell out pre-completion
The 107 luxury condominium residences at Alloy at Assembly Row, a new-construction building opening early 2018 that is the first homeownership option at Somerville’s booming Assembly Row mixed-use transit-oriented development, have sold out 100% prior to construction completion. Construction of Alloy began Winter 2016, and condominium sales began about 16 months ago. Condominiums reportedly sold at an average of $800,000 each, with select penthouses topping $1 million; sales of Alloy condominiums have not yet closed.
Alloy will feature amenities for condominium owners including an exclusive rooftop deck and club room, a swimming pool, a fitness center and concierge service. An additional 15 condominiums at Alloy are designated affordable; a lottery for these residences will be held in the coming months. On the 13-story Alloy’s lower floors will be a 159-key Marriott Autograph Collection boutique hotel and approximately 21,000 square feet of first-floor restaurant and retail space. Alloy is located steps from the new Assembly MBTA Orange Line station, minutes from Downtown Boston by transit or car.
Alloy at Assembly Row condos over 90% sold, exterior finish installation underway
Just 10 residences remain for sale at the upcoming 122-residence Alloy at Assembly Row luxury condominium building, located in the heart of Somerville’s new Assembly Row neighborhood. The 13-story building is nearly fully weatherproofed, with moisture-resistant cladding installed along the entire facade and installation of grey brick finishes well underway. Opening in the first quarter of 2018, Alloy at Assembly Row will feature a 159-key Marriott Autograph Collection boutique hotel and approximately 21,000 square feet of first-floor restaurant and retail space, in addition to 122 luxury condominium residences on upper floors. The following is a photograph of Alloy at Assembly Row:
Federal Realty proposes to construct a new 525,300 square foot building at Assembly Row featuring 500 residences and approximately 26,500 square feet of restaurant and retail space. The building would be located on Assembly Row’s Block 8, next to the Assembly Square MBTA Orange Line station. Federal will open Montaje, another luxury residential and retail tower at Assembly Row located next to the proposed building, this Spring. The proposed building would be located between Montaje and a recently completed 825,000 square foot office and retail development home to the headquarters of Partners Healthcare. Plans for the proposed building have been filed with the City of Somerville, who is now reviewing the project.
267,387 square feet of new commercial space proposed at Assembly Row
Federal Realty proposes to construct a new 267,387 square foot commercial building at Assembly Row featuring office and retail space. The building would be located on Assembly Row’s Block 5B, next to the Alloy mixed-use development steps to the MBTA Orange Line. Federal completed a 13-story, 825,000 square foot commercial building at 399 Revolution Drive, home to the headquarters of Partners Healthcare, at Assembly Row last June. Plans for the proposed building have been filed with the City of Somerville, who is now reviewing the project.
Facade installation underway at Alloy at Assembly Row, luxury residences now on sale
Installation of Alloy at Assembly Row’s facade along the building’s topped-off 13-story steel frame is underway, with moisture-resistant cladding nearly fully installed and brick finishes installed along a large section of the building’s base. Windows will soon be installed along the facade to fully weatherproof the frame. Private balconies, which will be features of a number of residences, are also being installed along the facade. Residences at Alloy at Assembly Row, located minutes from Downtown Boston, will be graced with sweeping, tranquil views of the Mystic River and its’ surroundings.
A total of 122 luxurious residences including studios, one-bedrooms, two-bedrooms and three-bedrooms are now on sale at Alloy at Assembly Row. Residences will be located on the building’s upper levels and will be graced with top-quality finishes and distinguished amenities including a resident clubroom, roof deck, and a swimming pool and a fitness center (which are located in the hotel downstairs). Alloy at Assembly Row is located steps to the Assembly Row MBTA Orange Line station and right on Interstate 93N/S, allowing for an easy commute to Downtown Boston, Cambridge and Route 128. Both a Marriott Autograph Collection boutique hotel and approximately 21,000 square feet of ground-floor retail will be located on Alloy at Assembly Row’s lower floors, conveniently allowing residents to enjoy a live, work and play lifestyle. Assembly Row’s multiple exquisite shops and restaurants are also located just an elevator ride away.
For more details and to schedule a private showing, visit the Alloy at Assembly Row website or click Contact Broker above. A sales center for Alloy at Assembly Row with a model kitchen and bathroom is now open at the sales gallery, located at 275 Foley Street in Assembly Row. Alloy at Assembly Row is on track to be complete in the first quarter of 2018. The following are photographs of Alloy at Assembly Row:
Alloy at Assembly Row tops off, residences now on sale
Alloy at Assembly Row’s 13-story steel superstructure, which will feature distinctive new luxury residences with sweeping views of the Mystic River, has topped off. With steel framing complete, weatherproofing of the superstructure has begun. Moisture-resistant cladding has been installed along a large section of Alloy at Assembly Row, and brick finishes are beginning to be installed. Alloy at Assembly Row is now a prominent feature of Assembly Row’s growing skyline and will further activate the bustling shopping and entertainment district with new housing, a Marriott Autograph Collection boutique hotel and approximately 21,000 square feet of ground-floor retail.
A total of 122 residences including studios, one-bedrooms, two-bedrooms and three-bedrooms are now on sale at Alloy at Assembly Row. Condominiums will be located on the building’s upper levels and will be graced with top-quality finishes and distinguished amenities including a clubroom and roof deck. Alloy at Assembly Row is located steps to the Assembly Row MBTA Orange Line station and right on Interstate 93N/S, allowing for an easy commute to Downtown Boston.
For more details and to schedule a private showing, visit the Alloy at Assembly Row website or click Contact Broker above. A sales center for Alloy at Assembly Row with a model kitchen and bathroom is now open at the sales gallery, located at 275 Foley Street in Assembly Row. Alloy at Assembly Row is on track to be complete first quarter 2018. The following are photographs of Alloy at Assembly Row:
The following are photographs of the sales center:
Montaje, Assembly Row’s next luxury apartment community, opening mid-2017
Montaje, 447 luxury residential apartments at Somerville’s Assembly Row, will begin leasing in Spring 2017 in anticipation of a mid-2017 opening. Formerly known as Block 6 at Assembly Row, Montaje’s 20-story tower topped off last month. Exterior and interior finishing are now underway at Montaje in anticipation of leasing.
A topping off ceremony was held Monday (November 14th, 2016) for Block 6 at Assembly Row, a 20-story development with 447 residential apartments and 40,000 square feet of retail opening in Early 2018 in Somerville’s rapidly growing Assembly Row neighborhood. Representatives of the Block 6 development and construction team gathered to sign the 20-story Block 6 tower’s final steel beam then lifted the beam and connected it to the tower’s top floor.
Block 6, along with neighboring Alloy, will bring increased vitality to Assembly Row. “We are honored to play a role in the advancement of one of the region’s most exciting new neighborhoods in collaboration with such valued partners,” said Patrick Callahan, President of Block 6 General Contractor Callahan Construction Managers. Both Block 6 and Alloy are developed by Federal Realty Investment Trust. Upon completion, Assembly Row will include over 600,000 square feet of retail, 1,800 residential units and 2.8 million square feet of office space. The following are photographs from the Block 6 topping off ceremony, courtesy the Block 6 team:
Alloy at Assembly Row nears topping off, new video released
Alloy at Assembly Row's 13-story steel structural frame has nearly reached its full height and is about to top off. A new video has been released on the Alloy website showing renderings of Alloy's condominiums. Condominium move-ins are expected by early 2018. Alloy will feature 122 residential condominiums on levels six through 13, a 159-key Marriott Autograph Collection boutique hotel on levels two through five and approximately 21,000 square feet of ground-floor retail. The following is a tweet by Girder-Slab showing Alloy's structural frame in the foreground and Block 6 at Assembly Row, a neighboring mixed-use development, in the background:
The 20-story tower at Block 6 at Assembly Row is about to top off. Concrete has been poured on many floors. Exterior finish panels have been installed along a large section of the tower's steel structural frame. Moisture-resistant sheathing and fireproofing are being installed along the adjacent six-story wood-framed structure. A new pre-cast parking garage has been constructed at the project's rear. Block 6 is targeting a January 2018 opening and will contain 447 residential units and 40,000 square feet of retail space. Across from Block 6 is Alloy at Assembly Row, a mixed-use hotel, residential and retail building that is about to top off. The following are photographs of Block 6 at Assembly Row:
View From Wynn Casino Site -
Tweet by Girder-Slab with Aerial View. Alloy at Assembly Row is in foreground, Block 6 is in background -
Alloy at Assembly Row condos 45% pre-sold after under eight weeks of pre-sales
Curbed Boston reports that 45% of the 122 residential condominiums at the under-construction Alloy at Assembly Row mixed-use building located in Somerville's Assembly Row neighborhood are under agreement after under eight weeks of pre-sales, a figure confirmed by Alloy at Assembly Row marketing firm The Collaborative Companies. Some condominiums have traded for over $1,000 per square foot; units at Alloy at Assembly Row will range from studios to three-bedrooms with prices ranging from $500,000 to $1.5 million. Construction of Alloy at Assembly Row commenced in February 2016; completion is anticipated by early 2018. Alloy at Assembly Row will feature 122 residential condominiums on levels six through 13, a 159-key Marriott Autograph Collection boutique hotel on levels two through five and approximately 21,000 square feet of ground-floor retail. Visit AlloyAtAssembly.com for condominium sales information.
Federal Realty acquires retail component of Partners HealthCare Assembly Row headquarters for over $25 million
This past Tuesday (August 9th, 2016), Partners HealthCare (Partners) transferred ownership of the 100,000 square foot ground-floor retail component of Partners' new 13-story, 825,000 square foot Assembly Row headquarters building to Federal Realty Investment Trust (FRIT) for just over $25 million as recorded in the Middlesex County Registry of Deeds; the exact sale price was $25,172,396. FRIT will manage the building's retail space. FRIT is the proponent of Somerville's $1.2 billion, 56-acre Assembly Row development project of which Partners' new headquarters building is a component. Approximately 400 Partners employees moved into the new headquarters this summer on June 13th, 2016. Partners' headquarters are located next to the Assembly Row station on the MBTA Orange Line with direct service to Downtown Boston. The following is the deed for the ownership transfer of Partners' headquarters' ground-floor retail component to Federal Realty:
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