Nutter Represents Condyne Capital Partners in $2.2M Acquisition of Two Parcels in Bluestar Business Park
Nutter recently represented Condyne Capital Partners in joint venture with an investor account advised by UBS Realty Investors LLC in a $2.2 million acquisition of two remaining parcels in the BlueStar Business Park in Norton, MA. The acquisition of these two parcels, which total more than 160,000 square feet, means that the joint venture now controls the entirety of BlueStar Business Park. The 848,000 square foot industrial park spans across 190 acres, and comprises 12 high bay warehouse, fulfillment, flex industrial and manufacturing buildings, in addition to ancillary retail and business services space.
The Park’s location in a business-friendly section of Southeastern Massachusetts is poised to fuel economic growth in an area with a strong regional labor base attracted to work opportunities close to home. Nutter is pleased that Condyne Capital Partners will have the opportunity to see their plan to fruition and create exceptional value for the region’s business community.
BlueStar Business Park puts a priority on mitigating high-tech energy consumption. Efficient buildings reduce greenhouse gases and accommodate free charging stations for electric cars, which make up an increasing percentage of vehicles on the road. Accessible solar power keeps natural gas and electric consumption low, despite the power needs of the Park’s innovative residents.
The Nutter team was led by Paul Ayoub, Wendy Fiscus, and Robert Fox in the Real Estate Department. The team has broad experience covering real estate transactional and finance work, as well as related entitlement, land use, and environmental matters crucial to the BlueStar Business Park deal.
Phase I of Bluestar Business Park is Condyne’s newest development comprising of modern high bay fulfillment centers serving todays E-Commerce market. Condyne Capital Partners, LLC is a vertically integrated development firm providing design, construction, asset management and property management services throughout the Northeast. The firm has developed in excess of 20M square-feet of primarily industrial properties since its inception with a concentration in high bay fulfillment, multi temperature cold storage, food production and manufacturing space.