Maggiore Companies breaks ground on 137,000 s/f industrial/flex facility at 60 O'Connell Way

According to Woburn-based Maggiore Companies, they broke ground on 60 O'Connell Way. The 137,000 s/f industrial/flex facility will be ready for tenant fit-up by July 1, 2011. 60 O'Connell Way is the final building at Liberty and Union Business Center, a 41-acre development that also includes the 100% leased 50 O'Connell Way, located just off Rte. 24. "We are excited about bringing another 137,000 s/f of industrial/flex product to the market at this time, especially when there is a lack of quality industrial/flex space in the market," said CB Richard Ellis' Steve Clancy. "The facility divides to 7,500 s/f and is ideal for both manufacturers and distributors." The Maggiore Companies owns and manages approximately two million s/f of similar product in seven communities throughout Massachusetts. According to Clancy, "Maggiore is an expert at the design, construction and management of this type of product." The Liberty and Union Business Center is a master-planned development made up of three single-story, industrial/flex buildings. The development was purchased by The Maggiore Companies in 2007. Strategically located at Rtes. 140 and 24, Liberty and Union Business Center offers unparalleled highway access and amenities. Paul Maggiore, founder and CEO, leads the development team at Maggiore. "We are excited to begin construction of the final building at the center and we expect brisk leasing activity over the next few months," said Maggiore. Maggiore Construction Corporation, Maggiore's construction arm operated by Matthew Maggiore and David Mann, will oversee the permitting and construction of the facility. CB Richard Ellis-N.E. Partners, LP, a CB Richard Ellis joint venture, has offices in Mass., Conn., R.I., Me. and N.H. The firm serves real estate owners, investors and occupiers by offering strategic advice and execution for: property leasing and sales, property facilities and project management, corporate services, debt and equity financing, investment management, valuation and appraisal, research and investment strategy, and consulting.