Sub Markets

Property Sectors

Topics

Boston & New England CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Boston & New England  + Metro Boston  + Office  | 

Connolly Acquires Vacant Build-to-Suit for Repositioning

Locally based Connolly Brothers Inc., a construction management firm, has acquired 75 Sam Fonzo Dr., a 160,000-square-foot, four-story office building in the Cherry Hill Industrial Park, Beverly, MA. Seller and acquisition price were not disclosed. Connolly designed and built the now-vacant property as a build-to-suit for Electric Insurance Company in 2001.

“The acquisition offers multiple opportunities to reposition the property by renovating the existing office building for a new tenant or redeveloping the property as a build-to suit for a new use,” said Thad Minshall, VP of real estate/development at Connolly Brothers. “At 38 acres, there are very few sites on the North Shore that offer the same access and lot size required for a significant development.” 

75 Sam Fonzo Dr. is centrally located in Boston’s North Shore suburbs, with immediate access to Route 128 and Beverly Airport and within a mile of the local commuter rail station.

Connect

Inside The Story

Connolly Brothers

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition