News: Spotlights

Brown of Campanelli Companies brokers 40,000 s/f design/build lease

According to Campanelli Companies, Peter Brown, director of leasing, represented both Mygrant Glass Company and York Trust II, Inc., a unit of general contractor J. D'Amico, Inc., in a long term lease of a new design/build 40,000 s/f warehouse facility to be built by Campanelli Companies. Mygrant Glass, headquartered in Hayward, Calif., will be relocating its Braintree warehouse to the three acre site owned by York Trust II, Inc. on High St. Campanelli Companies will be the turn-key developer for the masonry and steel warehouse. The new building will feature 30 ft. ceiling heights and a custom layout of office, loading and storage capabilities. J. D'Amico, Inc. will be the site contractor. Tom Higginbottom, zone manager for Mygrant Glass, said, "Campanelli Companies provided a complete service platform with both brokerage and design/build capabilities in locating our new Randolph facility. They found the 'needle-in-the-haystack' site on High St. which improved Mygrant's access to our customer base and simultaneously delivered design/build services. This new energy efficient building increases our storage capacity by 76% with only a 10% increase in space, effectively reducing our storage costs per cubic ft. by an average of 10% over a long term lease...just a fantastic result." York Trust II's representative, Mike Lenihan, general manager for J. D'Amico, Inc., said, "Pete Brown pulled together a complicated, three party, design/build transaction with a national tenant, Mygrant Glass, and the highly respected Campanelli Companies, delivering a triple win for all parties."
MORE FROM Spotlights
Spotlights

The New England Real Estate Journal presents the First Annual Project of the Year Award! Vote today!

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!
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

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
CRE market continues to navigate and adjust - by Kristie Russell

CRE market continues to navigate and adjust - by Kristie Russell

The New Hampshire commercial real estate landscape has experienced notable fluctuations in recent years. Within the office sector, there has been a consistent uptick in available space since 2020, attributed to a wave of companies downsizing or closing their New Hampshire operations. However,
Navigating conversations and industrial real estate: Unveiling the intricacies with a dash of dad jokes - by David Skinner

Navigating conversations and industrial real estate: Unveiling the intricacies with a dash of dad jokes - by David Skinner

Here are a few of my favorite topics of conversation: politics, religion, money, and relationships. Other than a below average level of social capability, why do you suppose that those are some of my favorite conversation pieces? Well, I believe that there is a fascinating truth hidden within these realms
Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Two popular sources of commercial real estate financing are banks and insurance companies. According to the Mortgage Bankers Association, banks and insurance companies combined hold 54% of the nearly $4.7 trillion in outstanding commercial mortgages as of the end of 2023. Both of these lender groups are subject to regulations