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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