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VMD Firms Creating The Campus at Innovation Approach in Fall River

NORTH ANDOVER, MA – VMD Firms, Inc. has bought and is creating The Campus at Innovation Approach in Fall River, a state-of-art logistics, superior manufacturing, and R&D heart designed and constructed to be house to a number of main firms searching for fashionable high-bay house .

The Campus at Innovation Approach is totally permitted with building quickly to start on the 900,000-square-foot Class A industrial property, in a market the place demand is outplacing provide as a result of land shortage and allowing obstacles. The sale closed late final week.

4 new buildings at 10 Innovation Approach are deliberate for The Campus at Innovation Approach, with particular person tenant-user areas demising to 50,000 sq. toes and up, serving a portion of what’s an estimated of 26 million sq. toes within the Higher Boston space.

VMD Firms is in superior discussions with a number of firms and finish customers for the 4 buildings.

“We spent a substantial period of time analyzing consumer necessities throughout the market as they relate to considerate design and web site layouts,” mentioned Phil Down, Chief Government Officer of VMD Firms, “and we’re thrilled to have the ability to ship fashionable institutional high quality belongings right into a provide constrained market.”

“The Campus at Innovation Approach can accommodate a wide range of finish customers’ enterprise goals searching for instant entry to main transportation nodes and a powerful native labor pool,” Down mentioned.

Down and James L. Vitas II spearheaded and acquisition of the property and capital elevate. Vitas is Founder and Government Chairman of VMD Firms, now in its 19th 12 months.

Situated throughout from a 1.4-million-square-foot Amazon distribution heart, The Campus at Innovation Approach will characteristic one constructing of 291,200 sq. toes and three of 202,800 sq. toes every. They’re permitted for as much as 85 toes of clear peak, with ample utility and electrical energy and 24-hour allowed operation, appropriate for all times science, R&D, distribution and warehousing, chilly storage, and manufacturing makes use of.

The Campus at Innovation Approach is situated instantly adjoining to Route 24, which connects to Fall River to the south and, to the north, connects I-495 and factors east and west. Additionally to the south on Route 24 is the I-195 interchange, resulting in New Bedford and Windfall.

Leasing for The Campus at Innovation Approach is led by Rob Byrne, Paul Leone, Pete Whoriskey, and Phil Verre of Cushman and Wakefield.

The Campus at Innovation Approach is on 128 acres of land that VMD Firms bought from the Fall River Redevelopment Authority. VMD Firms has labored over the previous 12 months with Fall River and Freetown officers together with Commonwealth of Massachusetts companies and land planners to allow the land  

VMD consulted with the Fall River Redevelopment Authority Government Director Sarah Web page, Bristol County Financial Growth Government Vice President Ken Fiola, and Fall River Mayor Paul Coogan to arrange The Campus at Innovation Approach for brand spanking new companies in search of fashionable industrial sort house within the comparatively provide constrained Higher Boston space.

Along with the Campus at Innovation Approach, VMD Firms is actively allowing and creating an extra million sq. toes all through the Commonwealth.  In 2017, VMD Firms bought and redeveloped the previous Necco confectionary constructing in Revere in a three way partnership, later leasing it to Amazon and promoting the 50-acre property to Clarion Companions, LLC of New York for $355 million.

The publish VMD Companies Developing The Campus at Innovation Way in Fall River appeared first on Boston Real Estate Times.