Wilmington Industrial Center
Wilmington, MA
Through an aggressive leasing campaign GFI brought this property to full occupancy
One Burlington Avenue was one of Sweetheart Plastic's original North American manufacturing facilities. As Sweetheart grew over its forty years of ownership, so did the asset's position as a focal point for manufacturing and distribution for the I-93 and I-95 markets.
The facility was constructed in two phases beginning with the manufacturing and administrative portion of the facility followed by the addition of a high bay distribution facility. As with many older owner-occupied facilities One Burlington Avenue was very user specific. The original manufacturing building, although structurally sound, had large amounts of process equipment and infrastructure that could not be re-used by subsequent tenants.
GFI identified that the building was structurally sound and well located which positioned the asset as a prime redevelopment opportunity. GFI quickly developed a smooth working relationship with Sweetheart helping the firm with its national real estate needs while maintaining a stable redevelopment environment at One Burlington Avenue. GFI negotiated a phased lease back to Sweetheart while they moved their manufacturing and Distribution operations.
This working relationship allowed Sweetheart to accomplish its consolidation and modernization objectives while providing GFI with ample-cash flow in One Burlington Avenue throughout the re-development and re-leasing process. Through an aggressive leasing campaign GFI was able to bring One Burlington Avenue to full occupancy. The facility is now a well-known center for industrial activity with a rent roll made up of such quality tenants as Draper Labs, Cheps USA, Gentle Giant Movers and PODS USA.
One Burlington Avenue was one of Sweetheart Plastic's original North American manufacturing facilities. As Sweetheart grew over its forty years of ownership, so did the asset's position as a focal point for manufacturing and distribution for the I-93 and I-95 markets.
The facility was constructed in two phases beginning with the manufacturing and administrative portion of the facility followed by the addition of a high bay distribution facility. As with many older owner-occupied facilities One Burlington Avenue was very user specific. The original manufacturing building, although structurally sound, had large amounts of process equipment and infrastructure that could not be re-used by subsequent tenants.
GFI identified that the building was structurally sound and well located which positioned the asset as a prime redevelopment opportunity. GFI quickly developed a smooth working relationship with Sweetheart helping the firm with its national real estate needs while maintaining a stable redevelopment environment at One Burlington Avenue. GFI negotiated a phased lease back to Sweetheart while they moved their manufacturing and Distribution operations.
This working relationship allowed Sweetheart to accomplish its consolidation and modernization objectives while providing GFI with ample-cash flow in One Burlington Avenue throughout the re-development and re-leasing process. Through an aggressive leasing campaign GFI was able to bring One Burlington Avenue to full occupancy. The facility is now a well-known center for industrial activity with a rent roll made up of such quality tenants as Draper Labs, Cheps USA, Gentle Giant Movers and PODS USA.