News: Front Section
Posted: May 12, 2023
National Development begins construction of new 210,600 s/f logistics facility; Cranshaw serves as GC
West Bridgewater, MA National Development, a leading vertically integrated real estate investment and development firm, has closed on the acquisition of a 20-acre parcel located at 586 Manley St. and has commenced construction on a 210,600 s/f class A logistics facility.
The building is expected to be able to accommodate tenants for occupancy in April of 2024. Designed to meet institutional-quality specifications, the building will feature 36-foot clear heights, 168 parking spaces, 45 trailer parking spaces, 37 loading docks with two drive-in doors and can be subdivided to meet the needs of multiple tenants.
“We are excited to deliver this first-class logistics facility to the Greater Boston market. We are confident in the strength of the market particularly given the relative lack of modern, institutional-quality product available for tenants seeking to lease between 50,000 and 200,000 s/f,” said Andrew Gallinaro, managing partner at National Development.
The project was approved with no traffic or operational restrictions, making it an attractive option for last mile distribution operations and third-party logistics users. The site is located six minutes from Rte. 24, 16 minutes from I-93, and 33 minutes from Boston.
Cranshaw Construction is the general contractor overseeing the construction and JLL is the project’s leasing agent.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Columns and Thought Leadership
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
Investing in a falling rate environment - by Harrison Klein
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.
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
