Lease at 1210 – 1220 Washington Street brings approximately 200 jobs to Newton
Cushman & Wakefield and Davis Marcus Partners (DMP) announced today the execution of a 70,000-square-foot lease with The Rockport Group in the 90,000-square-foot brick-and-beam office building located at 1210-1220 Washington Street in Newton, MA. This long term lease will relocate Rockport’s headquarters from Canton, MA in fall 2016, bringing approximately 200 jobs to the City of Newton.
“We’re thrilled to welcome The Rockport Group’s headquarters to Newton. The move adds to the vitality of our city, increases our economic growth and strengthens our commercial tax base,” said Mayor of Newton Setti Warren.
There will be a significant capital investment in the century-old building by both Davis Marcus Partners and The Rockport Group. The interior’s open-concept floor plan, industrial-themed staircases, heavy timber structural system and exposed brick feature walls creates a modern work environment for the building’s tenants. Renovations are set to begin on June 1, 2016 and will be completed for a Rockport move-in during fall 2016. Located along the Mass Pike, the building offers prime signage opportunities, the rare convenience of onsite covered parking, commuter rail access, and a host of popular restaurants, shopping destinations and neighborhood facilities.
“We are pleased that The Rockport Group selected our site to locate its headquarters, signaling a new chapter for both Rockport and Davis Marcus Partners. Securing this highly visible, off-market opportunity represents a true “win-win” for our investors, the City of Newton and Rockport,” said The Davis Companies Senior Vice President Gary Hofstetter.
“As a standalone company, we were looking for an office location with character that exemplifies The Rockport Group. The property offers the aesthetic of a classic mill building with state of the art amenities that will provide a creative and open environment for our employees,” said Bob Infantino, CEO of The Rockport Group. “We are thrilled to move to our new space and are excited to have an office that reflects our character and brand.”
Rockport joins VideoLink Inc., a leading provider of video services to Fortune 500 and enterprise companies and institutions, which occupies 20,000-square-feet at the building. The building remains 100 percent leased.
Cushman & Wakefield’s Executive Managing Director John Boyle and Associate Vice President Ryan Romano represented Rockport in this lease. Davis Companies executives Cappy Daume and Gary Hofstetter represented the Landlord in the transaction.
“It was our privilege to work on such an important corporate headquarters transaction for The Rockport Group,” said John Boyle, Executive Managing Director for Cushman & Wakefield. “1220 Washington Street, with its brick and beam structure and very high ceilings, creates a space that reflects the authentic culture of The Rockport Group and offers great visibility for the brand from the MassPike. The Rockport Group’s decision to move and bring additional jobs to Newton also represents their commitment and dedication to economic growth and sustainability in this area.”
About The Rockport Group
The Rockport Group designs, markets and sells comfort footwear with distribution in premier independent, online and department stores in North America and more than 63 markets worldwide. In August 2015, Drydock Footwear Group acquired The Rockport Company to form The Rockport Group, the new home to the companies’ combined portfolio of men’s and women’s brands, including Rockport, Cobb Hill, Aravon and Dunham. Headquartered in the greater Boston area, the Company merges Drydock and Rockport’s collective vision, talent and commitment to innovation, dating back to Rockport’s beginnings in 1971. For more information, visit www.rockport.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested nearly $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet across the Eastern United States.
About Marcus Partners
Marcus Partners is a value-oriented real estate investment firm based in Boston, MA with regional offices in Norwalk, CT and Secaucus, NJ. It currently owns/manages a diversified portfolio that includes more than 5 million square feet of office, biomedical, mixed-use, medical office, R&D and industrial properties located along the East Coast. Grounded by a deep belief in value investing, and experienced in the complexities of real estate operations and the capital markets, Marcus Partners has built a reputation as a trusted and effective investment partner, known for its integrity, insight and creativity.