Skanska, a leading global development and construction firm, has named Russell DeMartino executive vice president of Skanska USA Commercial Development in Boston.
With this promotion, DeMartino will oversee all development operations for the Greater Boston region, including land acquisitions, development, design, construction management, leasing and divestment. DeMartino joined Skanska in 2016 and brings 16 years of experience to his new role. Since joining Skanska, he led the 121 Seaport team to unprecedented success, from the complete lease-up of the speculative office development project, to the record-breaking $455 million sale.
“Russ’ passion for development and his ability to foster high performing, collaborative teams will allow us to continue to deliver world-class developments in the Boston market. His commitment to sustainability, innovation and customer satisfaction aligns with our values and our long-term growth plans, and I am confident his leadership will support continued value creation for Skanska and our shareholders,” said President & CEO of Skanska USA Commercial Development Robert Ward.
DeMartino holds a master’s degree in business administration from Harvard Business School, and a bachelor’s degree in science and civil engineering from the United States Military Academy at West Point. After graduating from West Point, DeMartino spent more than eight years as a commanding officer and pilot in the United States Army then went on to receive his master’s from Harvard. He is an active member of the Urban Land Institute (ULI) and speaks both German and Spanish.
In conjunction with this leadership change, Skanska also promoted Carolyn Desmond to vice president-development for the Boston office.
With 15 years of experience, nine at Skanska, Carolyn has managed all aspects of the development process including acquisition, financing, design development, construction oversight, leasing and divestment, most recently on the 121 Seaport project in Boston. Her real estate development experience ranges from multi-family condominiums and apartments to office, mixed-use and urban retail. Carolyn has worked in various markets during her tenure at Skanska including Washington, D.C., and Warsaw, Poland. She holds a bachelor’s degree in civil engineering from The University of Virginia.
Both DeMartino and Desmond were instrumental in the delivery, swift lease-up, and sale of 121 Seaport, a 17-story, 400,000-square-foot, LEED® Platinum office tower that sits atop two stories of 50,000-square-feet of world-class retail. The building is renowned for its elliptical shape, designed by CBT, and as home to pioneering companies PTC and Alexion Pharmaceuticals.
In addition to 121 Seaport, Skanska’s development portfolio in Greater Boston includes 101 Seaport, the LEED Platinum North American headquarters for PwC; Watermark Seaport, a 300,000-square-foot, LEED Gold residential building with ground-floor retail; 150 Second Street, a lab and office building in Cambridge, MA; The Harlo, a 17-story, 183,000-square-foot, LEED Gold luxury residential tower; and, Two Drydock, a 12-story, 225,000-square-foot, Class-A, office building with 9,500-square-feet of ground-floor retail, 150 parking spaces and a 12,000-square-foot public plaza, that recently topped out.
Skanska has built and restored New England’s landmarks for more than 70 years, from Gillette Stadium and the Novartis Institute for Biomedical Research, to the Longfellow Bridge. Skanska continues to leverage its local knowledge and global expertise to shape the region's institutional, commercial, healthcare and life science facilities, as well as to enhance or expand essential transportation and energy infrastructure.