03/14/2006

Condyne, LLC & Greenstreet Capital Partners, LLC to Break Ground on 137,697 SF Facility

Condyne, LLC Real Estate Development and Greenstreet Capital Partners, LLC are scheduled to break ground on a new 137,697 SF office and warehouse facility, Revolutionary Way Commerce Center, located in the Liberty and Union Industrial Park in Taunton, Massachusetts. Construction of this new facility is slated to begin in March and will conclude in November of 2006.

The building has the ability to accommodate smaller, industrial tenants from 20,000 SF to 137,697 SF. The building will be designed with all of the amenities of a modern, high bay distribution facility, including a 30’ clear height, 12 loading dock doors with the option for additional, based on tenant requirements, ESFR sprinkler system and metal halide lighting. This will be the third building in the Phase I section of Taunton’s newest industrial park. “We are excited about the list of potential prospects to occupy our new development. They will compliment the existing park tenants while taking advantage of its premier location and access to quality labor,” stated Condyne President, Jeff O’Neill.

Greenstreet Capital Partners, LLC was formed by Greenstreet Partners, a Florida based merchant bank. Greenstreet Capital Partners seeks to leverage its Principals’ investment acumen in concert with qualified private and public operating companies through a time–tested co-investment platform utilizing dynamic, disciplined and value-oriented investment strategies with the goal of generating significant return-on-investment for a select group of strategic equity partners.

Condyne, LLC Real Estate Development is one of the leading commercial developers in New England. Condyne was recently named the fifth largest commercial developer in Massachusetts in Boston Business Journal’s 2006 Book of Lists. Condyne’s growth to the top of the industry has been highlighted by such projects as the new 160,725 SF office and distribution facility for ADVO, Inc., located in Windsor, CT, a 74,492 SF office and distribution facility for “Super Coups”, a division of ADVO, located in Taunton, MA, the 57,512 SF multi-temperature warehouse, office and food processing facility for Ocean Beauty Seafoods, located in Taunton, MA and The Shoppes at Stoughton Commons, a 78,100 SF open aired retail plaza, located in Stoughton, MA. At present, Condyne continues to be a market leader with 1.5 million SF of development projects in the final stages of construction and development.