NAIOP Honors Federal Realty With Distinguished Real Estate Award

Assembly Row in Somerville, MA features more than 50 name brand retail outlets.

BOSTON—NAIOP Massachusetts has awarded Federal Realty Investment Trust, the developer of the Assembly Row development in Somerville, MA, its 2016 Distinguished Real Estate Award. The NAIOP award is given out for achievements in real estate, charitable activities and community betterment. The award to the Rockville, MD-based firm will be presented by Goulston & Storrs’ Real Estate Group co-chair, Debbie Horwitz, at NAIOP’s Annual Awards Gala on Thursday, Nov. 10 ^th at the Westin Waterfront Hotel in Boston. “This award is a testament to Federal Realty’s ability to maintain its role as a leader in the ownership, operation, development and redevelopment of mixed-use real estate, while continuing to strategically adapt over the years to the changing markets,” says David Begelfer, CEO of NAIOP Massachusetts. “In addition, the company continues to promote social and environmental responsibility in their operations and development.” Federal Realty is an owner, operator and developer of high-quality retail based properties located primarily in major coastal markets from Washington, DC. to Boston as well as San Francisco and Los Angeles. The firm has created urban, mixed-use neighborhoods such as Santana Row in San Jose, CA, Pike & Rose in North Bethesda, MD and Assembly Row in Somerville, a planned more than $1-billion development that is well into its second phase of construction. The company’s 96 properties include more than 2,800 tenants. Its portfolio totals approximately 22 million square feet, and more than 1,800 residential units. In conjunction with its award selection, Federal Realty Investment Trust chose the Somerville Homeless Coalition as the recipient of an unspecified charitable donation from NAIOP in its honor. Federal Realty’s Boston regional office is located at 450 Artisan Way in Somerville. “We are honored to be awarded NAIOP Massachusetts’ Distinguished Real Estate Award,” says Don Briggs, president Federal Realty Investment Trust Boston. “Our goal is never to simply redevelop but to fully invest in the community. We seek to improve and enhance the communities that we are in and we hope this commitment fosters continued growth and pride for our neighbors and partners. We know that business thrives only when our people and communities thrive. As such, we are equally excited that this award garners a donation for the Somerville Homeless Coalition, an important organization and support system for many affected in our area.” Federal Realty’s Assembly Row neighborhood was awarded earlier this year the Curbed Cup Neighborhood of the year. Serviced by the Orange line’s new Assembly T station, the neighborhood features more than 50 name-brand retail outlets, sought-after regional restaurants and bars, Assembly Row is home to a LEGOLAND Discovery Center and one of Boston’s top AMC movie theaters, as well as Somerville’s first LEED-Gold certified and fully occupied office building. Recently, Partners Healthcare moved offices to the neighborhood into a new more than 800,000-square-foot building, bringing nearly 5,000 employees to Assembly Row. Residents currently occupy more than 450 apartments with another 450 apartments and 130 condos in development. Also under construction is a boutique Autograph Collection hotel. Assembly Row also hosts more than 100 events annually, including family-friendly Riverfest, free summer concerts, salsa dancing, and weekly yoga along the Mystic River. Besides Assembly Row, Federal Realty’s Massachusetts retail portfolio includes Assembly Square (337,000-square feet) in Somerville; Atlantic Plaza (123,000 square feet) in North Reading; Campus Plaza (116,000 square feet) in Bridgewater; Chelsea Commons (222,000 square feet) in Chelsea; Dedham Plaza (241,000 square feet) in Dedham; Linden Square, (223,000 square feet) in Wellesley; North Dartmouth (48,000 square feet) in North Dartmouth; Queen Anne Plaza (149,000 square feet) in Norwell and Saugus Plaza (168,000 square feet) in Saugus.