FALL RIVER, MA– FoxRock, a South Shore-based commercial real estate investment and development company, has added to its growing portfolio another large industrial acquisition.
The company, which recently announced major projects in Mansfield and Weymouth, has now closed on the acquisition of a 164,487 square-foot property in Fall River.
The property at 848 Airport Road has been a manufacturing headquarters location for several companies. New England Ropes occupied the building for years before being acquired in 2009 by the current tenant, Teufelberger.
Teufelberger, a $300 million+ multinational rope manufacturer, has been family owned and operated since the 1700’s. Best known for its variety of high-quality engineered rope products created for the military and marine trades, the company has an agreement to lease the entire property through 2025.
“We believe in the future of American manufacturing,” said Mark Carroll, Managing Director at FoxRock, “And we are excited to welcome the historic and globally-known Teufelberger to the FoxRock family.”
“We are eager to begin our relationship with this well-respected specialty manufacturing company that is such a key driver of economic opportunity for the Southeastern Massachusetts region,” says Bryan Giudicelli, FoxRock Director of Business Development. “As FoxRock continues to expand throughout Massachusetts, we remain committed to the thoughtful, community-focused approach that distinguishes our company.”
With this most recent acquisition, FoxRock’s portfolio now encompasses more than 4 million square feet of real estate across asset classes. FoxRock is also actively participating in the rapid revitalization of Quincy Center, where it has several significant projects in the development pipeline.