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News release

BOSTON, MA

Three Leases Signed at Liberty Wharf Brings Eclectic South Boston Waterfront Project to 100% Leased


BOSTON, February 16, 2012 — Cresset Harborside LLC has executed three leases for the remaining 7,339 square feet of first class office space on the fourth floor of Liberty Wharf, the mixed-use project on Boston Harbor with spectacular views and five restaurants. Liberty Wharf is home to Legal Harborside, Del Frisco’s Double Eagle Steakhouse, Temazcal Tequila Cantina, and Jerry Remy’s Sports Bar & Grill Seaport. The office space is now 100 percent leased. The leases are with: famaPR for an additional 3,200 square feet; RStudio for 2,200 square feet; and Hayes Bostock and Cronin LLC signing for 2,000 square feet. Cresset was represented by exclusive leasing agent Jones Lang LaSalle in all office transactions at Liberty Wharf.
 
famaPR, North America’s premier boutique public relations firm for technology companies, is adding to its 10,500 square feet of space on floor 3 for a total of 13,789 square feet including the fourth floor. RStudio, a free and open source integrated development environment (IDE) for R, will establish its corporate headquarters. The law firm of Hayes Bostock and Cronin is adding a Boston office to their Andover, MA location. The other tenants in the four-story wood and glass building are Congress Wealth Management, which develops innovative solutions for high net-worth individuals, families, foundations, and endowments; Cronin Group, LLC whose restaurants include Jerry Remy’s Sports Bar & Grill Seaport and Temazcal Tequila Cantina, Atlantic Beer Garden and The Whiskey Priest, as well as American Energy Efficiency Company.
 
“Liberty Wharf has grown to become one of the most popular destinations in Boston,” said Boston Mayor Thomas M. Menino. “Its success is proof that the Innovation District is evolving into an established neighborhood where people want to live, work, and play. The new tenants join more than 100 companies and 3,000 jobs that have moved to the area since 2010.”
 
According to famaPR President and Founder Keith Watson: "A professional service organization's offices serve as the face of the company - a true reflection of the brand and the culture. By taking over even more harbor and city skyline views, in one of the nicest and newest buildings in Boston, we're reinforcing the brand we've established over the past 10 years as the only high-end, boutique PR agency for technology companies. Our first year here at Liberty Wharf has been the most dynamic and exciting year since we started in 2002. We're looking forward to continued growth in this amazing location."

A striking, modern 73,000-square-foot three-building development on the original footprint of historic Jimmy’s Harborside Restaurant, Liberty Wharf is comprised of three new, architecturally distinctive buildings for office and restaurant use. Cresset has a long-term lease on the waterfront property which is owned by the Massachusetts Port Authority (Massport). The area integrates Massport’s core mission to maintain and grow traditional maritime operations alongside mixed-use development which includes hotel, office, residential, restaurant and retail space. Liberty Wharf is part of the larger 65-acre Commonwealth Flats parcel owned by Massport.
 
“Liberty Wharf turned out just as we intended, replacing a Boston institution with a unique and rich addition to a vibrant waterfront neighborhood that has become a vision realized,” said Cresset President Edward G. Nardi.
 
Jones Lang LaSalle Managing Director Bill Motley, Associate Ben Hux, and Vice President Katharine Small served as brokers for the landlord. RStudio was represented by Richards Barry Joyce & Partners Vice President Patrick Buckley, and Newmark Knight Frank Senior Managing Director James Griffin negotiated on behalf of Hayes Bostock and Cronin. Occupancy for these tenants is scheduled for April 2012.
 
“I am pleased that the final pieces are in place for this remarkable project,” said Jones Lang LaSalle’s Motley. “These leases complete an impressive roster of quality high growth companies.”
 
The Liberty Wharf design team is headed by David Manfredi of Elkus Manfredi Architects of Boston. The building, a combination of glass and Angelique, a sustainable, teak-like wood from South America, is set entirely over the water on pilings. The three buildings consist of 28,000 square feet of boutique office and 45,000 square feet of restaurant space. Liberty Wharf is set off from the water by a half-acre of outdoor decks, including a 570-foot long addition to the Boston HarborWalk that is fully accessible to the public. John Moriarty & Associates constructed the buildings.
 
Restaurants include: Remy’s; Temazcal; Del Frisco’s; and Legal Harborside, Legal Sea Foods’ flagship restaurant on three floors with outdoor space. A kiosk on Northern Avenue next to Fish Pier that is part of the complex will feature a fifth restaurant.
 
Liberty Wharf has 12 slips for boats, including eight “touch and go” docks and more than 500 linear feet of dock space that will service pleasure boats and water taxis. The 78-foot Belle, a 1929 charter vessel docks at Liberty Wharf.
The water access will significantly increase connections from Downtown Boston and other waterfront neighborhoods to the Bank of America Pavilion, Institute of Contemporary Art, and along Northern Avenue toward the Financial District and Boston Marine Industrial Park.
 
Liberty Wharf is a LEED-certifiable project. The buildings include energy and water conserving features, as well as recycled building materials and sun shades for temperature control.
 
About Cresset
Cresset is a full-service real estate operating and institutional investment firm focused on the acquisition, ownership, development, and operation of commercial properties throughout Boston and New England. Led by a team responsible for the acquisition, management or redevelopment of more than $1.9 billion in real estate investments, Cresset is focused is single minded: to provide superior value through well planned and executed real estate projects.
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.7 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.