National Development is pleased to announce that the former Constitution Center will undergo a $20 million renovation to create a best-in-class creative workplace in a unique waterfront environment. The project, which has been renamed Constitution Wharf, is an 8-acre office property located in Charlestown directly on the Boston Harbor and situated across the North Washington Bridge from North Station.
Constitution Wharf will completely reimagine the waterfront office environment to highlight the building’s location on a pier directly next to the birth of the USS Constitution. The property enjoys excellent connectivity to downtown and the surrounding area via a 10 minute walk to North Station and easy vehicle access to I-93, I-90 and Route 1. National Development will begin construction in May 2017 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 ample 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 a rare opportunity for companies to have a high performance work environment in an urban waterfront setting with spectacular views of the Boston skyline and Boston Harbor.
In a testament to this new vision, shoes.com (formerly ShoeBuy), a leading e-commerce company recently acquired by Jet.com, has signed a long-term lease for 31,300 square feet with National Development at Constitution Wharf. The company’s headquarters will relocate to this new cutting edge location from Boston’s Financial District. Newmark Grubb Knight Frank (NGKF) Executive Managing Director David Townsend and Senior Managing Director Tim Bianchi advised National Development in the transaction. John Butterworth and Nick Amarante of CBRE/New England represented shoes.com in the lease negotiations. Perkins & Will is providing the architectural services for the renovation.
“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.”
Constitution Wharf is a 180,000-square-foot office complex located on the waterfront adjacent to Constitution Marina. The project is within walking distance to several public transportation options, as well as a myriad of restaurants, coffee shops and nightlife. Constitution Wharf has ample on-site parking and also offers a dedicated shuttle service, on-site zip cars and a nearby Hubway station to further enhance commuter’s options.
Shoes.com is relocating its headquarters from 101 Arch Street in Boston’s Financial District 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, Massachusetts, 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.
About National Development
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 square feet of space. National Development is also one of the region’s largest property management companies and currently manages over 9 million square feet of commercial space and 2,400 residential units. For more information, visit www.natdev.com or follow @nationaldevelop.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently owned offices, NGKF’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, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’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. For further information, visit www.ngkf.com.
NGKF 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 (NASDAQ: BGCP). 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 W. Lutnick. For more information, please visit http://www.bgcpartners.com/.