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.
Tag: Bob Cleary
Closing of one of the most influential industrial/manufacturing leases in Boston
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.