Constitution Wharf in Boston Trades for $114M

CHARLESTOWN, MA—Atlanta-based Jamestown has acquired the recently re-positioned Constitution Wharf office complex in Charlestown for $114 million.

National Development and partner Charles River Realty Investors sold the 179,308-square-foot, three- building property, according to commercial brokerage firm Newmark Knight Frank.

Constitution Wharf consists of 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. The property also includes 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.

NKF vice chairman Edward Maher, executive managing directors Matthew Pullen and James Tribble and director Samantha Hallowell of NKF’s Boston Capital Markets team, which is led by co-head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the three-building office complex in conjunction with NKF executive managing director David Townsend and senior managing director Timothy Bianchi.

“Constitution Wharf represents rare waterfront real estate,” says NKF’s 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 underwent a multi-million-dollar repositioning that was completed in the past two years. A variety of lobby, Harborwalk and common area upgrades were completed. Among the property’s amenities are: 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. In addition, Castle Island Brewing Co. operates a beer garden on site.

NKF notes that significant tenant investment has also helped transform the complex into a modern, collaborative workplace.