National Development to complete $20 million renovation to Constitution Center

June 02, 2017 - Owners Developers & Managers

Charlestown, MA According to National Development, the former Constitution Center will undergo a $20 million renovation to create a best-in-class creative workplace in a waterfront environment. The project, which has been renamed Constitution Wharf, is an 8-acre, 180,000 s/f office property located on the Boston Harbor and situated across the North Washington Bridge from North Station.

Constitution Wharf will reimagine the waterfront office environment to highlight the building’s location on a pier next to the USS Constitution. The property is connected to downtown and the surrounding area via a 10 minute walk to North Station and vehicle access to I-93, I-90 and Rte. 1. National Development will begin construction this spring on a new double height lobby, entryway, lounge, café and fitness area dedicated to the building. Landscape improvements will create an outdoor harbor side “living room” complete with a fire pit and media screen, and event space available for tenants to share and comingle. The repositioning will also include workspace improvements, covered bike storage, new signage and a public art component. Constitution Wharf will offer an opportunity for companies to have a high performance work environment in an urban waterfront setting with views of the Boston skyline and Boston Harbor. 

In a testament to this new vision, shoes.com (formerly ShoeBuy), an e-commerce company recently acquired by Jet.com, has signed a long-term lease for 31,300 s/f with National Development at Constitution Wharf. The company’s headquarters will relocate to this new location from Boston’s Financial District. Newmark Knight Frank (NKF) executive managing director David Townsend and senior managing director Tim Bianchi advised National Development. John Butterworth and Nick Amarante of CBRE/New England represented shoes.com. Perkins & Will is providing the architectural services for the renovation. 

The project is within walking distance to restaurants, coffee shops and nightlife. Constitution Wharf has on-site parking, a shuttle service, on-site zip cars and a nearby Hubway station to further enhance commuter’s options.

“It’s a privilege to work with National Development on Constitution Wharf, and we credit the team for their hard work and vision for this project which attracted an exciting company like shoes.com,” said Townsend. “The property’s fantastic location along with its modern amenities will make Constitution Wharf a great place to build culture and to recruit the best talent.”

Shoes.com is relocating its headquarters from 101 Arch St. to the second floor of One Constitution Wharf due to the company’s rapid growth and desire for unique workspace. National Development will be renovating the space to provide a customized open workspace designed to meet shoes.com needs. Shoes.com will take occupancy of its new headquarters in late summer 2017. 

“We’re incredibly excited about the opportunity to grow our business and to foster an energetic company culture for shoes.com at Constitution Wharf,” said John Foristall, EVP & CFO of shoes.com. “The property’s redevelopment was very attractive to us and met our strict criteria to move our growing headquarters to a premiere and unique location. The custom open workspace on the waterfront will allow us to continue to modernize and transform how people shop for shoes and to attract top talent.” 

Founded in 2000 and headquartered in Boston, shoes.com, previously at the site address shoebuy.com, has been trusted by millions of customers, for almost two decades. Shoes.com is the online shopping destination for women, men and kids – making is easy, fun and affordable to find the shoes you love. In 2016, shoes.com was acquired by Jet.com, an affiliate of Walmart’s US e-commerce division and a forward-thinking and highly innovative eCommerce company. 

For over 25 years, National Development has been one of the most active real estate development firms in Massachusetts. Specializing in commercial office, mixed-use, retail, industrial, multi-family, hotel and senior housing projects, National Development and its affiliates have developed over 28 million s/f of space. National Development is also one of the region’s largest property management companies and currently manages over 9 million s/f of commercial space and 2,400 residential units.

Newmark Knight Frank (NKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently owned offices, NKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NKF’s strong foundation makes it one of the most trusted names in commercial real estate. NKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services.

NKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by chairman and chief executive officer Howard Lutnick.

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. CBRE Group, Inc.), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

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