Jamestown pays $114m for Charlestown neighborhood property
Jamestown has acquired Constitution Wharf in the historic Charlestown neighborhood of Boston for $114 million.
The sellers were National Development and Charles River Realty Investors.
Totaling 179,308 square feet, Constitution Wharf comprises One Constitution Wharf, a 133,677-square-foot 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-square-foot building occupied by the MGH Institute of Health Professions; and Three Constitution Wharf, a 9,564-square-foot building occupied by a Bright Horizons daycare/preschool.
“Constitution Wharf represents rare waterfront real estate,” said Matthew Pullen, Executive Managing Directors at Newwmark Knight Frank, which represented the sellers. “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 – and significant tenant investment have transformed the complex into a modern, collaborative workplace. Additionally, Castle Island Brewing Co. operates a highly popular beer garden on site.
