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.
Partners Use $58M to Buy Canton Office, Redevelop into Spec cGMP Facility
Apollo Global Management and Jumbo Capital have purchased 30 Dan Road, a two-story office building in Canton, MA, for $21 million. The partnership plans to use $57.7 million in total financing for the acquisition, conversion and expansion of the 79,000-square-foot building into a 125,460-square-foot cGMP facility.
Frank Petz, Matt Sherry, Brooke Howard and Rob Schlesinger of Colliers represented the seller, The Shearwater Companies. Jeff Black, Bryan Koop and Sean Burke of Colliers arranged the buyer’s five-year fully extended loan term provided by Cambridge Savings Bank.
“Throughout the pandemic we’ve seen life science companies move to the suburbs looking for additional space, and this former call center provides plenty of room to expand,” said Jamie Ciffolillo, managing partner at The Shearwater Companies.
“We are strong believers in the continuing demand for manufacturing facilities as Boston area biotech firms move to deliver proven therapies to the market,” added Thomas Powers, assistant VP of acquisitions and capital markets for Jumbo Capital.
- ◦Sale/Acquisition
- ◦Development
