Newmark is pleased to announce that it has recently completed two new leases to 7-Eleven and S-L Distribution Company, LLC totaling 127,500 square feet at Building 1 of the Campanelli Business Park of Bellingham (353 Maple Street) in Bellingham, Massachusetts. Newmark Executive Managing Directors Rick Schuhwerk, Ed Jarosz and Tony Coskren, along with Managing Director Brian Pinch and Associate Lizzie Kusbit, represented the property owners, Campanelli and Clarion Partners, in the lease negotiations, bringing the building to full occupancy.
Situated in the Campanelli Business Park of Bellingham, Building 1 is a 127,500-square-foot state-of-the-art, Class A industrial warehouse. Delivered in October 2018, the property features tilt-up construction with 32’ clear heights, 26 loading docks and two drive-in doors.
Relocating from Wrentham, Massachusetts, 7-Eleven signed a 50,750-square-foot lease at Building 1. Newmark represented ownership as well as the tenant in this transaction, with Newmark Associate Director Tyler McGrail and ESRP’s Brad Struck and Sharon Morrison representing 7-Eleven. “7-Eleven was in need of approximately 50,000 square feet with a facility that had as many doors as possible,” said McGrail. “The Campanelli Business Park of Bellingham was a great fit for our client due to the numerous loading docks, doors and modern features it has. Campanelli did a great job securing 7-Eleven on a tight timeline.”
S-L Distribution Company, LLC, a subsidiary of Snyder’s-Lance, Inc., leased 76,750 square feet at Building 1. Relocating from Foxboro, Massachusetts, the firm was in a need of a new, high-bay warehouse with a minimum of ten doors in the 495/South market. Newmark represented ownership in the lease negotiations and Rob Byrne, Paul Leone and George O’Connor of Cushman & Wakefield represented S-L Distribution Company, LLC.
“We are pleased to have represented ownership in these significant lease transactions at the Campanelli Business Park of Bellingham,” said Jarosz. “Building 1 was developed specifically to provide the best-in-class specs that are in high demand of nationally based tenants. Ownership constructed a top-notch building, and as a result, it has quickly leased up.”
The Campanelli Business Park of Bellingham comprises of newly-delivered, 427,500 square feet of Class A industrial warehouse space. The modern industrial park offers leasing opportunities from 40,000 square feet up to 427,500 square feet for logistics and distribution companies in the Greater Boston area. Ideally located adjacent to Interstate 495 with easy access to Boston and Providence, the Park is an ideal destination for distribution centers as well corporate offices. Building 2 has approximately 300,000 square feet available now, which Newmark will continue to market.
Established in 1947, Campanelli is a third generation, full-service commercial real estate development and acquisition company with extensive experience in the industrial, office, medical office, warehouse/distribution, retail, educational and cold storage markets. Campanelli began building homes during WWII and transitioned from residential to commercial real estate in the 1960’s. The team, known for their seamless ability to work with their clients and act as the “real estate division” of a company, has developed over 22 million square feet across the nation and provided international development consulting and site selection services. The company’s signature capabilities include land development, design and build, redevelopment and value-added acquisitions. It is Campanelli’s all-encompassing and quality services that have led to its successful track record as a highly-regarded developer; from site selection, feasibility analysis, local, state and federal permitting, to architectural and engineering design, building construction and facilities and property management. For more information, visit our new website at Campanelli.com.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 36 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles and Washington, DC. With more than $48 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 350 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.