Leicester, MA – Representatives from The Brennan Group (TBG), John M. Corcoran & Company (JMC), and equity partner Berkeley Partners were joined by Town of Leicester officials recently to celebrate the official groundbreaking of Central Gateway, a subdividable 267,600sf, speculative industrial facility.
Construction on Central Gateway began late last spring and is well underway, with the foundations and building pad complete and steel and exterior walls about to go up. The project remains on target to deliver in Q2 of 2023. The facility is the second collaboration this year between the joint venture partners, who are also constructing Lunenburg Central, a 372,000sf, Class A High Bay warehouse/distribution facility, expected to deliver in January 2023.
Located at 90 Huntoon Memorial Highway (Route 56) in Leicester, the new facility is accessible to major distribution roadways, within 10 minutes of Massachusetts Turnpike I-90, I-290 & I-395 Interchange, and Route 20. Central Gateway also offers easy access to the Worcester Regional Airport. The building is designed to accommodate either warehouse, distribution or manufacturing users, subject to market demand.
“The decision to proceed with the speculative development of Central Gateway was driven by strong market demand and our belief in the location of the site, which is central to all of New England, with excellent access to major highways,” said Peter Mahoney, executive vice president at JMC. “Demand for high quality industrial space, particularly subdividable space, remains strong. Our partnership recognized this terrific opportunity and decided to move forward.”
“As large parcels of land for industrial development projects become increasingly scarce, the Central Mass market, with its accessibility to major highways, is emerging as the next frontier for warehouse, distribution and manufacturing,” said John Brennan, VP at TBG.
The Class A facility will feature best in class design which can be subdivided to accommodate multiple tenants, and includes 36 foot clear heights, 45 overhead doors and three drive-in doors, with 299 vehicle parking spaces and 59 trailer/van parking stalls, as well as build-to-suit office space. Leasing efforts will be handled by the Newmark Industrial Leasing team, along with Will Kelleher of Kelleher & Sadowsky Associates. Construction financing is being provided by HarborOne Bank, and Harbor One’s participant bank is Bristol County Savings Bank.
Central Gateway is designed and constructed by the same team as Lunenburg Central: GMA Architects and ARCO National Construction.