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FRANKLIN, MA-New Boston Fund, Inc., a Boston-based real estate development and investment firm, and Condyne LLC Real Estate Development, a Taunton-based industrial developer, are joining forces in a strategic partnership to develop the Franklin Commerce Center, a 233,450-sf, distribution center in the Franklin Industrial Park that will be built on spec.

“This distribution center is in keeping with our strategy of expanding our portfolio through modern industrial and warehouse distribution acquisitions and developments,” says Jerry Rappaport, president of New Boston Fund. “Southeastern Massachusetts has emerged as the region’s top industrial market, and tenants are flocking to the region due to the stable labor force, availability of land, and close proximity to major highways. This facility offers an ideal location and provides the most modern, efficient industrial space available.”

The warehouse sits on a 17-acre site and will feature 267 parking spaces, 34 loading doors and a 135-foot truck court. The building will be constructed 40 feet high, with clear heights of 36 feet throughout the warehouse area. In addition to warehouse space, the building will offer nearly 10,000 sf of office space.

The high-bay distribution center is being constructed by ProCon Construction of Hooksett, N.H. and architectural design is being handled by PCI Architecture of Manchester, N.H. The building is scheduled for occupancy this coming spring..

The park, located directly off of Route 495, with easy access to Routes 95 and 24 and the Massachusetts Turnpike, is home to a number of tenants including EMC Corp., Federal Express, Owens & Minor and Schwartzkoff Technologies. Cushman & Wakefield is serving as the exclusive marketing agent for the development.

Jeff O’Neill, president of Condyne, LLC emphasizes that he anticipates that the limited availability of facilities providing more than 30 feet of clear height will mean that this facility will attract interest from many industrial tenants who, he says “want to maximize value through additional cubic feet. Based on extra cubic feet, the actual cost per pallet will decrease.”

Condyne and New Boston Fund are also currently finishing the construction of a 181,000 sf office and distribution facility for New England Pottery/GKI Bethlehem Lighting Co. in Myles Standish Industrial Park in Taunton. Among New Boston Fund’s recent acquisitions is RiverTech Park, a 285,000-sf manufacturing facility in Billerica, MA. The firm is also involved in the construction of a 212-unit condominium in Bourne, MA, in partnership with Northland Residential Corp.

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