Federal Realty Lands 7 New Retailers At Somerville's Assembly Row
Somerville's Assembly Row is continuing to grow after welcoming a major corporate headquarters and a high-rise apartment building last year, with several new retailers signing onto the project this week.
Federal Realty Investment Trust, the developer behind Assembly Row, signed seven new tenants, including popular local chain Tatte Bakery & Café, plus multiple restaurants and other retailers, the REIT announced Monday. It said each of the new businesses is expected to open this summer.
The deal marks the 20th location in the Boston area for Tatte, though it appears to be the first in Somerville, according to the bakery chain's website. Boston-based Tatte has also expanded to the D.C. area over the last two years with five locations.
In addition to Somerville's first Tatte, Assembly Row has signed the restaurant group behind Boston's Saigon Fusion and Cambridge's Menya Jiro to open a new Vietnamese grill, An Nam, Federal Realty said.
Legendary Restaurant Group, which owns Boston's Sip Wine Bar and Somerville's Papagayo, plans to open Civility Social House, a new bar and small plates venue, and Assembly Row also landed the first Massachusetts location of Tribos Peri Peri, a Portuguese-inspired concept that has locations in California, Georgia, New Jersey and Rhode Island.
The three other retailers Federal Realty announced are Taiwanese tea shop Ten One Tea House, pet wellness and urgent care clinic Bond Vet and LaserAway, a hair and tattoo removal business.
“As new residents and office workers continue to move in, this new wave of tenants only increases the desirability of Assembly Row,” said David Middleton, Federal Realty's general manager for Assembly Row. “Our focus on providing unique experiences and varied dining options alongside essential services creates a compelling mix for all of our guests.”
Assembly Row has several other previously announced retail tenants scheduled to open this year, according to Federal Realty: American Eagle, Ashley Furniture, SweatHouz, Parla, Salt + Stone, Union Square Donuts, Juicygreens and Le Macaron.
The businesses will add a variety of new retail options to the development that has grown to more than 1M SF of office, 1,500 residential units and 500K SF of retail, restaurant and entertainment. The 40-acre development is nearing the end of Phase 3, Federal Realty said, and it is eventually planned to expand to more than 2M SF of office, 1,800 units and 635K SF of retail.
In August, global apparel and footwear brand Puma opened its new North American headquarters in a 150K SF space at Assembly Row's 455 Grand Union Blvd. In October, Federal Realty finished construction on Miscela, a 24-story apartment building with 500 units.
Federal Realty CEO Don Wood said on the REIT's Q4 earnings call Thursday that Miscela had reached 60% leased, and its rents are 15% higher than the pre-Covid lease-up of neighboring Assembly Row apartment tower Montaje.
"There is something that’s happening here with respect to lifestyle, with respect to shopping, with respect to certainly the office piece in terms of what’s to come there that is really — that really feels to me like an energized pre-COVID time that, to some level, is here to stay," Wood said of Assembly Row on the earnings call, according to a Seeking Alpha transcript.