Berman, Hird and Gaucher of O,R&L broker 64,000 s/f lease
O,R&L Commercial has leased 22 Barnes Industrial Rd. South. Carl Berman, CCIM, Frank Hird, SIOR and Bob Gaucher, CCIM, SIOR represented the landlord, Barnes Road Realty, LLC in the transaction.
The building has been leased to the Dexmet Corporation. Dexmet manufactures a wide variety of expanded metal and plastic products used in aerospace, fuel cells, batteries, electronics, aircraft, medical and other applications. They presently have facilities in Naugatuck and Branford.
Doreen DeSarro, economic developer for the Town of Wallingford, was a key link in facilitating the deal. The 64,000 s/f building will undergo major renovations by the owner prior to Dexmet occupying the building later this year.
Bob Bochman, president of Dexmet Corporation, chose 22 Barnes Industrial Rd. South after seeing many possibilities throughout central Connecticut. The building is centrally located and is well suited for their manufacturing process. Additionally, Wallingford's steady tax base, plentiful workforce and low electricity costs from the municipally-owned utility proved important in the company's decision. The building owner was willing to provide key improvements to the property.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary