Accomplishing a consulting mission that led to the expansion and leasing of real estate

Auburndale Realty Co., Newton, Mass. is pleased to announce July 26, 2018 that it has recently completed a counseling assignment that resulted in the expansion and leasing of 5 Forge Parkway, Franklin, Mass. Rob Nahigian, FRICS,SIOR,CRE,MCR was the real estate counselor representing the ownership, JD Family Trust on the additional leasing of its industrial facility to New England Treatment Access, Inc (NETA). NETA is a Massachusetts non-profit corporation with its roots in Colorado. The tenant had originally signed a long-term lease in 2013-14 years ago for approximately 61,000 sf of warehouse, 10,000 sf of mezzanine space and 1,176 sf of garage space. The total square footage was 71,326 sf for medicinal marijuana grow facility. Nahigian served as the real estate counselor on the first phase of the assignment for JD Family Trust for the 71,326 sf. The warehouse facility was formally occupied by Ferguson Plumbing for a number of years. NETA approached JD Family Trust to lease the entire facility as its medicinal facility back in 2013. NETA was one of the first entities to receive a license from the State to grow medicinal marijuana. NETA has had immense success in Colorado and brought that experience to Massachusetts.

The Fid Building

The event started at 10:30 am and attracted over 400 professionals including Boston’s Mayor Walsh and the Director of the Boston Redevelopment Authority, Brian Golden. Cannistraro renovated the 160,000 square foot building at 25 Fid Kennedy (now known as The Fid) and created roughly 200 manufacturing jobs located in Boston’s Raymond L. Flynn Marine Industrial Park.

Opening of the new JC Cannistraro fabrication, manufacturing and design facility was held on Boston’s Seaport

The grand opening of the new JC Cannistraro fabrication, manufacturing and design facility was held on Boston’s Seaport on Thursday, June 14, 2018. Robert Cleary, SIOR, CRE Colliers International and Rob Nahigian, FRICS, CRE, SIOR, MCR of Auburndale Realty Co., Newton, Mass. were the real estate advisors and brokers that took the project from initial planning to its final lease negotiations at 25 Fid Kennedy over the last 4 years. J.C. Cannistraro, LLC, of Watertown, MA is relocating its manufacturing facility with over 200 industrial employees on a 70 year long-term lease. The lease was negotiated by Bob Cleary and Rob Nahigian and is the first of its type in arguably over 50 years in the Seaport. It is significant both because of its longevity and industrial impact.

Cannistraro has developed plans to completely renovate, enhance, and redesign the previous building.

The property at 25 Fid Kennedy played an integral role in the WWII and post-WWII war effort and is located in the 58 acre South Boston Army Annex, contained within the 167 acre South Boston Naval Annex. After extensive negotiations, EDIC and the Boston Redevelopment Authority awarded Cannistraro Final Designation on June 9, 2016. The lease was executed on August 31, 2016. During the due diligence of the property, Cannistraro developed plans to completely renovate, enhance and redesign the former U.S. Army Annex while preserving the rare Art-Deco character of this massive steel-framed former metal shop. June 14, 2018 was the grand opening to showcase those renovations.

Search over 100 locations between Boston, Manchester, Worcester and Providence

Auburndale Realty Co. exclusively represented Cannistraro in this lease transaction. Both Bob Cleary and Rob Nahigian acted as real estate counselors and brokers on this assignment. They research over 100 sites between Boston, Manchester, Worcester and Providence in their efforts to find this facility. Both Bob and Rob intensely negotiated the letter of intent and the 200 page lease document.

A radical transformation in the S. Boston

At the event, the Mayor of Boston spoke highly of JC Cannistraro and the new jobs being created by the company. He mentioned that S. Boston area has transformed from a fish market to new hotels, headquarters and offices for GE, Skanska, Amazon and is now one of the hottest locations in the U.S. for development. John Cannistraro, President, said that the company needed to change as has Boston’s skyline on side of the building and the abutting sea on the other side of the building. This facility will give his company the ability to evolve for generations to come

Consulting for various commercial and industrial projects for JD Family Trust since 2009.

The company has grown its business and had a need for additional space. NETA and JD Family Trust has been negotiating during the Winter and Spring of 2018 for new construction addition of approximately 35,000 square. The total lease facility is know 106,326 square feet. Additionally the tenant has extended its lease to a longer term. The lease amendment was executed during the Spring of 2018. Construction was recently completed during July, 2018 for the expansion. Numerous approvals were required by the town and state for this facility. Nahigian has been counseling numerous commercial and industrial projects for JD Family Trust since 2009.

Relocation of the company’s machine workshops from Wilmington, Stoughton and Watertown

Cannistraro consolidated its trades, and relocated the company’s machine shops from Wilmington, Stoughton and Watertown. They moved these operations into 25 Fid during March, 2018. The building took two years of renovating to bring this former U.S. Army WWII building to its historic preservation stage. In its over 50 years in business, Cannistraro has grown from a plumbing company into a multi-trade contracting company offering plumbing, HVAC, piping, sheet metal and fire protection services. The majority of Cannistraro’s work is within greater Boston serving commercial, medical, educational institutions and other facilities.

Auburndale Realty Completes an Office Lease Representing the Private Depository Division of the Brookline Bank

January 24, 2018, Auburndale Realty completed an office lease representing Brookline Bank’s Special Deposit Division for 1031 Services at 25 Braintree Hill Office Park, Braintree, MA. The office lease was for 3,681 sf. During the Fall of 2017 Brookline Bank engaged Auburndale Realty as its corporate broker for office space for its special deposit divisions.