BOSTON–On behalf of the partnership between Condyne Capital Partners, LLC and Westpoint Capital Partners LLC, JLL announced the sale of 16 Forge Park in Franklin, Massachusetts for $16.4 million to medical device manufacturing company Tegra Medical.
The single-story, Class A flex building consists of 120,000 square-feet of modern manufacturing space on 12.75 acres.
JLL Executive Vice President Sean Lynch, Senior Vice Presidents Joseph Fabiano and Michael Ciummei, and Vice President Benjamin Roopenian represented the sellers in the transaction.
“The opportunity to acquire 16 Forge Park allows Tegra Medical to further expand their footprint in the market as well as accommodate for any further growth,” said JLL Senior Vice President Joseph Fabiano.
“This sale demonstrates that manufacturing demand remains strong for well positioned industrial properties,” said Jeff O’Neil, President of Condyne Capital Partners, LLC.
Condyne is a fully vertically integrated real estate development firm offering one-stop sourcing for construction, engineering, property management, and investment needs. Condyne was formed in 1998 to capitalize on development opportunities within the warehousing, fulfillment, flex industrial and transportation industries originating from clients of Condyne Freezers and Condyne Logistics. To date, the firm has developed in excess of 20 million square feet of space in multiple real estate product segments.
Westport Capital Partners LLC is a real estate investment firm focusing on adding value to real estate and “hands-on” solutions to complex situations. Westport provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California and Stamford, Connecticut.