Federal Realty Investment Trust announced PUMA North America signed a long-term lease for 150,000 square feet of office space to anchor a new 300,000 square foot office building at 455 Grand Union Boulevard at Assembly Row, the rapidly growing, mixed-use neighborhood just minutes from downtown Boston. The new office building will also include ground floor retail space. The office space is now under construction and 50% pre-leased to PUMA who expects to relocate 450 employees from offices in Boston and their current headquarters building in Westford, Massachusetts beginning in 2021. With the signing of the PUMA lease, Federal Realty also announced the launch of Phase 3 of Assembly Row which includes in addition to 455 Grand Union Boulevard a 500-unit residential building, with ground floor retail space. The estimated total investment in Phase 3 is expected to be approximately $475 million. Upon completion of Phase 3, total investment at Assembly Row will be approximately $1.2 billion. 455 Grand Union Boulevard will be a 13-story, 300,000 SF Class A office building with 550 dedicated parking spaces and approximately 25,000 SF of ground floor retail.