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JV Begins Construction on 840,000-SF Industrial Park

LITTLETON, MA-GFI Partners and Charlesbank Capital begin construction on Littleton Distribution Center, an 840,000-sf industrial park on Ayer Road. The speculative project is scheduled to be completed in October.

By Naomi Grossman | Updated on July 19, 2004

LITTLETON, MA-GFI Partners and Charlesbank Capital have begun construction on Littleton Distribution Center, an 840,000-sf industrial park on Ayer Road. The speculative project is scheduled to be completed in October. The developers say the project is the only newly constructed, tilt-up concrete building designed around the needs of a regional distributor.

GFI Partners’ purchase of 53 Ayer Rd. in September 2001 included a 400,000-sf existing building situated on 74 acres. This past April, GFI purchased 108 acres of industrial-zoned property on Route 2A which is located in back of the first parcel. The firm acquired the property from 53 Ayer Rd. Associates for $3.9 million. GFI planned to develop 600,000 sf of single-story industrial space on this property.

Currently, GFI has approval to build 840,000 sf of distribution space on the excess land in two buildings–one of 480,000 sf and one of 360,000 sf. The first phase of development is 240,000 sf–one half of the 480,000 sf building–and is the phase which is scheduled for completion this October.

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