BEVERLY, Mass. — Connolly Brothers Inc., a leading construction management and development firm, has acquired a 160,000-square-foot office building at 75 Sam Fonzo Drive in Beverly, Massachusetts.
Located within the Cherry Hill Industrial Park, the four-story facility sits on a 38-acre parcel and represents a major investment in the North Shore’s commercial real estate market.
Originally designed and constructed by Connolly Brothers in 2001 as a build-to-suit project for Electric Insurance Company, the now-vacant building offers a unique opportunity for redevelopment. With its strategic location and existing high-end amenities, Connolly plans to reposition the property for future tenants or redevelop the site entirely based on market demand.
“We are thrilled to add 75 Sam Fonzo Drive to our real estate portfolio,” said Thad Minshall, Vice President of Real Estate/Development at Connolly Brothers. “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. 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.”
The facility is ideally situated with immediate access to Route 128, close proximity to Beverly Airport, and within one mile of a commuter rail station—enhancing its appeal to a wide range of commercial users. Current amenities include an on-site fitness center with locker rooms, a commercial kitchen and cafeteria with banquette seating, an expansive outdoor patio, basketball court, and ample on-site parking.
Connolly Brothers sees the acquisition as both a strategic business move and a reaffirmation of its long-term commitment to sustainable growth and investment in the North Shore region.
With its combination of location, infrastructure, and development potential, 75 Sam Fonzo Drive is expected to draw interest from companies seeking custom-designed office, research, or industrial space.
