Federal Realty Investment Trust has paid $25.2 million to acquire 100,000 square feet of retail space in Partners HealthCare’s new 825,000-square-foot office complex at Assembly Row in Somerville.
The storefronts on the first and second floors of the complex will include the third Greater Boston location for Mike’s Pastries, along with a health club managed by Assembly Row master developer Federal Realty and yet-to-be-announced restaurants and shops, according to Partners executives.
Federal Realty developed the 13-story office complex for Partners as it consolidates its corporate functions from 14 leased office buildings in Greater Boston.
The $196 million first phase of Assembly Row includes 331,000 square feet of retail space, 98,000 square feet of offices on Artisan Way and 445 apartments.
The next phase includes a 160-room hotel, 167,000 square feet of retail space, 447 apartments and 134 condominiums, and is estimated at $270 million to $280 million, according to an SEC filing. The 56-acre property has permits for 3.4 million square feet of commercial space, 1,843 residential units and the hotel.