Puma North America to Relocate HQ to Federal Realty’s Assembly Row
The company is expected to bring 550 positions, an increase of 20% of its present area workforce, to its new headquarters offices in early 2021.
SOMERVILLE, MA—Puma North America reports it is consolidating offices in Boston and Westford, MA into 150,000 square feet of space at an office building currently under construction at Federal Realty Investment Trust’s Assembly Row development here.
Puma North America has signed a long-term lease for the space and will be the anchor tenant at the 300,000-square-foot office building at 455 Grand Union Blvd. at Assembly Row. The company is expected to bring 550 positions, an increase of 20% of its present area workforce, to its new headquarters offices in early 2021.
Puma officials state that its new offices in Somerville will feature a 19,000-square-foot roof deck, complete with a recreational area and basketball court. The facility will also offer employees access to a state-of-the-art fitness center, an on-location kid’s room, bike storage and a 2,300-square-foot balcony.
“We’re excited to bring together our talented North American employees in Somerville, a diverse, vibrant city that reflects our values and culture, and will allow us to retain and recruit the best talent across our front and back-end operations,” says Bob Philion, president and CEO of Puma North America. “This new headquarters will allow us to better collaborate, foster diversity of thought, creativity and innovation, and have fun while doing it.”
In addition to 455 Grand Union Blvd., phase three of the Assembly Row development includes a new 24-story, 500-unit apartment building, with ground floor retail space, across from the T station. Beyond phase three, Rockville, MD-based Federal Realty has approximately five more acres of developable land that has been entitled to accommodate up to 1.5 million square feet of office and/or lab development. At completion of phase three, Assembly Row will include more than 55 shops, 22 restaurants, 1,514 residential units, more than 1.1 million square feet of office space and The Row Hotel, a 158-room Marriott Autograph Collection Hotel.
The Class A 13-story office building at 455 Grand Union Blvd. will feature 550 parking spaces and approximately 25,000 square feet of ground floor retail. The property is now under construction and is more than 50% pre-leased. The neighborhood’s existing office space at 450 Artisan Way is currently 100% leased. Partners Healthcare is headquartered at Assembly Row with 730,000 square feet of office space.
Patrick McMahon, VP development at Federal Realty Investment Trust, says of the lease deal, “We are excited that Puma has placed long-term value on the Assembly Row location, our expansive array of high-quality amenities, vibrant mix of uses and direct access to the T and highway. We look forward to welcoming the Puma team with our more than 10 soccer fields worth of amenities and watching Puma sustain its position as an international leader in the sports brand world.”
Puma North America was represented by Michael Joyce at Cushman & Wakefield. Federal Realty was represented by Joe Flaherty of JLL.
With phase one and two now complete, Assembly Row features 830,000 square feet of office space, 1,000 residential units, a 158-key hotel, and 500,000 square feet of retail, restaurant, and entertainment. When fully built across 40 acres along the Mystic River, the Assembly Row neighborhood will feature a total of 635,000 square feet of retail and restaurant space, 2.0 million square feet of office space and 1,800 residences.
Assembly Row currently offers more than 30 nationally branded outlets, including names like Polo Ralph Lauren, Nike Factory, Saks Fifth Avenue OFF 5TH, and J. Crew Factory. Entertainment options include the 12-screen AMC Assembly Row 12 and IMAX, the only LEGOLAND Discovery Center in New England and Lucky Strike Social. More than a dozen eateries line the property’s Riverfront Park and streets, including Legal On The Mystic, Earl’s Kitchen + Bar, Tony C’s, Caffe Nero, American Fresh Brewhouse, River Bar and The Smoke Shop.