National Development and Charles River Realty Investors sell Constitution Wharf for $114 million to Jamestown

October 11, 2019 - Front Section

Charlestown, MA Newmark Knight Frank (NKF) has completed the $114 million sale of Constitution Wharf on behalf of National Development and Charles River Realty Investors to Jamestown. Vice chairman Edward Maher, executive managing directors Matthew Pullen and James Tribble and director Samantha Hallowell of NKF’s Boston Capital Markets team oversaw the transaction of the three-building office complex in conjunction with NKF executive managing director David Townsend and senior managing director Timothy Bianchi. 

Totaling 179,308 s/f, Constitution Wharf comprises One Constitution Wharf, a 133,677 s/f building anchored by Walmart-owned Shoes.com, Partners HealthCare affiliate Home Base Veteran & Family Care and law firm Campbell Conroy & O’Neil, P.C.; Two Constitution Wharf, a 36,067 s/f building occupied by the MGH Institute of Health Professions; and Three Constitution Wharf, a 9,564 s/f building occupied by a Bright Horizons daycare/preschool. 

“Constitution Wharf represents rare waterfront real estate,” said Pullen. “It further benefits from its exceptional proximity to the North Station area, which is undergoing a dramatic mixed-use transformation, while offering an attractive rental rate discount to Downtown Boston.”

Constitution Wharf benefits from a multi-million-dollar repositioning completed in the past two years. A variety of lobby, Harborwalk and common area upgrades – including Fooda lunch service, a café, a fitness center, a game room and an outdoor lounge complemented by illuminated art installations that reflect Boston Harbor’s tides in real time.

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