Blackridge Properties to develop 18 units at Diamond Hill I.P.
Blackridge Properties, Inc. has begun construction of 18 industrial condominiums at 45 Industrial Rd. in the Diamond Hill Industrial Park.
Colonial Contracting & Design, Inc., the general contractor, will be erecting a pre-engineered steel building designed and fabricated by Package Industries, Inc.
The project, Cumberland Commercial Center, consists of 37,500 s/f of warehouse and flex-space commercial condominiums. Each unit features 14' tall x 12' wide overhead doors, as well as a standard skylight and a glass entrance door with a side light. Standard units are 25 feet wide and 55 feet deep (1,375 s/f), and can be combined for larger space needs (up to 9,600 s/f).
The facility's utilities include 200 amp electrical service and high speed internet and amenities like onsite management and landscaping.
Rollcraft, Inc. currently occupies 10,000 s/f and The Children's Workshop, Rhode Island's leading child care provider, has committed to leasing 6,125 s/f as well.
Blackridge Props. secured construction financing from Sovereign Bank in September.
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