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News release

Boston

Jones Lang LaSalle Named Leasing Agent for Liberty Wharf by Cresset


Cresset Development has named Jones Lang LaSalle to be the exclusive leasing agent for Liberty Wharf. This one of a kind development is comprised of three new architecturally distinctive buildings totaling approximately 74,000 square feet of mixed-use space for office and restaurant use on the South Boston Waterfront. The $43 million project is nearing shell completion, and is on schedule to begin the restaurant build-out in the second quarter of 2010. The three buildings consist of 28,000 square feet of first class office space, Legal Sea Foods’ Flagship restaurant, a contemporary steakhouse, street level restaurants, and a significant amount of open space along the Boston Harbor.
 
Liberty Wharf’s unique upscale wood and glass buildings surrounded by decks over the water, are custom designed and engineered to fit onto the one-acre wharf where Jimmy’s Harborside Restaurant once stood. The four-story 51,000-square-foot West Building will house exclusive office space, and decks on the upper two floors with expansive views of the harbor, Boston Fish Pier, and city skyline. A steakhouse occupied by the Tavistock Group will occupy the second floor. Legal Sea Foods will be the sole occupant of the East Building with its 20,000-square-foot dining and decks space on three floors. The Kiosk Building will include a 1,500-square-foot restaurant with deck dining.
 
“Liberty Wharf complements the Seaport District and Greater Boston as a destination and amenity built on the harbor,” Cresset President Edward Nardi said. 
 
The project also includes an approximately 570-foot extension of the HarborWalk, over 500 linear feet of dock space for boaters that will support water taxis. It will grant new public access connecting the harbor with the Bank of America Pavilion, Institute of Contemporary Art, and along Northern Avenue toward the Financial District and Boston Marine Industrial Park. 

The development will also be LEED certifiable. The buildings will include energy and water conserving features. 
According to Jones Lang LaSalle Managing Director Bill Motley: “Liberty Wharf is unique in Boston. Cresset has demonstrated a fresh vision and new ideas. The prestige project is much more than a quality mixed-use waterfront development. It will bring a new dynamic to the seaport neighborhood. It truly creates a new standard for the city.”
 
Joining Bill on the Leasing team is Assistant Vice President Katharine Small. Heading the design team is Elkus Manfredi Architects. John Moriarty & Associates is constructing the new buildings. The project is being financed by Sovereig/Santander Bank.  
 
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’s focus 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 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 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 more than $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
 
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