Auburndale Realty Co. and Rob Nahigian are honored to announce, with cooperating SIOR broker, Bob Cleary, now with Colliers International of Boston, that it has closed on one of the most impactful industrial/manufacturing leases in the City of Boston with JC Cannistraro LLC of Watertown, MA. The industrial lease culminates a 2.5 year process of tenant advisory assignment for JC Cannistraro, a mechanical contracting company, in search of a 150-200,000 square foot manufacturing facility. Over 100 sites, land and buildings were surveyed from New Hampshire and Massachusetts and eventually 25 Fid Kennedy, Boston was selected. The site is owned by EDIC and the Boston Redevelopment Authority near Boston’s Seaport. The building is approximately 160,000 sf and served as an U.S. Army ammunition facility during WW II. After 1.5 years of designation awards and lease negotiations with EDIC, BRA, the City of Boston and the Mayor’s Office, a 178 page lease with a 70 year control period was executed on August 31, 2016. Over 140 new jobs will be immediately added with aspirations to include over 400 jobs in total over time.
Auburndale Realty Company
Auburndale Realty Co., founded in 1949, specialized in leasing and managing rental apartments and single-family homes along the Route 128 beltway. It became the largest apartment property management company in Newton, MA. In 1960, it became one of Boston’s first real estate syndicators, specializing in apartment complex acquisitions. In 1989, Robert J. Nahigian joined the firm, with over 52 years of experience in commercial and industrial real estate. The firm has expanded its developments and holdings since 1985.
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