Rockville, MD-headquartered Federal Investment Realty Trust is one building away from completing the first phase of Assembly Row, a $1.6 billion redevelopment effort in Somerville that aims to create a new, 45-acre neighborhood. According to the Boston Business Journal, the developer recently broke ground on a new speculative office facility with ground floor retail space.
Located at 450 Artisan Way close to MBTA’s new Assembly Square Orange Line Station, the four-story building is set for completion by the end of 2014. It will have three floors of Class A office space totaling 100,000 square feet, as well as 30,000 square feet of retail space that has already been leased to Brooks Brothers Factory Store, Papagayo and Legal C Bar.
Designed as a mix of retail, restaurants, entertainment, offices and residences located just minutes away from Cambridge and downtown Boston, the completed Assembly Row project (pictured) will include 2,100 apartment units, more than 500,000 square feet of retail space, and 1.75 million square feet of office space.
In further commercial real estate news, a private joint venture plans to construct an alcohol distillery in the South Shore Industrial Park in Hingham. According to Boston.com, private developers Robert Rohla of Hull will be involved in the project along with Patricia and Bradford Seeland of Scituate.
Called the Bradford Distillery, the facility would replace a 5,000-square-foot bay on Pond Park Road that the investors leased in June 2012. The city’s Planning Board will start the review and approval process on May 6 and, if approved, the small-scale manufacturing plant could start producing vodka, gin, brandy and artisan eau de vie—a brandy distilled from fermented fruits—by fall of this year.