DEVELOPMENT

Condyne Capital Partners finance real estate acquisitions, structure deals, and conduct due diligence. The firm works to build brokerage relations. It manages disposition activities and lease administration. It is also responsible for entitlements and permits. Our vertically integrated approach allows us to understand Clients’ real estate development needs, and allows us to take projects from inception to completion.

  • Design and engineering
  • Entitlements and permitting approvals
  • Relationships with municipalities
  • Master planning
  • Economic incentives
  • Sourcing opportunities
  • Site evaluation
  • Due diligence
  • Land acquisition
  • Building specifications
ADVO facility - Liberty & Union Industrial Park
                    Taunton, Massachusetts.
    Photographed for Condyne, LLC - Taunton, MA

© 2004 Tom Croke/VISUAL image inc.
               508.479.5008
ADVO facility - Liberty & Union Industrial Park
                    Taunton, Massachusetts.
    Photographed for Condyne, LLC - Taunton, MA

© 2004 Tom Croke/VISUAL image inc.
               508.479.5008

CAPITAL MARKETS

Condyne’s financial relationships within the lending community provide the satisfaction that your project will be completed on time and on budget. Disciplined fiscal management of the entire development process is a primary driver to assure project success.

  • Management oversight
  • Lending relationships
  • Controlling costs
  • Financial analysis and forecasting
    capital needs
  • Inspectional testing quality
  • Insurance management
  • Reporting to all stakeholders
  • Training and support
  • Building turnover

To assure continued success, we develop these facilities as if they were ours to operate. We assure the highest quality, best management, modern materials, and green initiatives to ensure the project’s success. As a vertically integrated company we manage complexity and provide the right solutions to assure all our assets support your business needs and provides much needed flexibility within a changing economic environment. The capital market team produces all equity, debt, and economic incentives to successfully turn a value add, opportunistic opportunity into a core real estate investment.

Potpourri Group, Inc. (PGI) – Littleton, MA

Condyne developed a 450,000 square-foot distribution center for the Potpourri Group, Inc. (PGI) in Littleton, MA as a joint venture between the Condyne Investment Fund II and Square Mile Capital Management, LLC. The built-to-suit fulfillment center is located on a 51.82 acre parcel that the partnership owns. The multi-channel direct-to-consumer retailer was provided with a fully operational distribution center equipped with 18 door locks, 6 compactors, and room for up to 15 tractor trailers to park. It includes a 200,000 square foot storage mezzanine as well as office space that features modern finishes and a call center that seats up to 100 service agents. Total capital investment for the facility was $49 million at final build-out, comprising $35 million for soft and hard construction costs and $14 million to support the redevelopment of an underutilized property. The project was financed by M&T Bank Corporation.

450,000

square feet

51.82

acre parcel

Penske – Norton, MA

Condyne developed a 15,192 square-foot facility for Penske Truck Leasing in Norton, MA within the Norton Commerce Center industrial park. The single-floor building is located on a 6.2 acre parcel. The development includes a truck rental and repair space with a mezzanine constructed for additional storage and parts as well as administrative offices. It features 3 service bays, a 2 lane fuel island with high-speed fuel dispensers, and a truck wash bay. In addition, a wireless technology component was installed to allow Penske service technicians to integrate diagnostic repair software. There were pre-engineered construction practices utilized to create a clear space service area, exterior masonry sheer walls and metal panels, and a conventionally framed office area with exterior Concrete Masonry Unit (CMU) bearing walls. Total capital investment for the project was $4.3 million at final build out.

15,192

square feet

6.2

acre parcel

Horizon Beverage – Norton, MA

Condyne developed 60,000 square-feet of office space and 100,000 square-feet of warehouse space for Horizon Beverage in Norton, MA within the Norton Commerce Center industrial park. The wholesale distributor of beer, wine, and spirits purchased the former General Motors Warehouse and Distribution Center and Condyne sold the two adjacent land parcels to comprise a whole development transaction. The former GM warehouse measured 404,000 square-feet. Condyne rehabbed the space and added 100,000 square-feet to transform it into a fully-functional high-bay distribution center. The combined warehouse included all new racking, conveyer systems, kick modules and computer systems. The warehouse also includes a storage mezzanine and 6,500 square-foot multi-temp cooler for refrigerated items. In addition, there was a back-up generator installed that is capable of providing power to run the entire facility. Condyne constructed new office space for Horizon that included sales and meeting rooms, a designated collaborative space for 200 sales staff, a beverage training room with a modern, fully functional bar, large scale open office area, private offices, conference rooms, break rooms, a security office and an IT management office. The most notable office feature is the two-floor lobby area that boasts modern finishes and creates a brand statement. Furthermore, Condyne added a new truck courtyard for all Horizon route trucks as well as a fuel island and a newly paved parking lot for employees.

564,000

square feet

73.6

acre parcel