JLL closes the sale of 16 Forge Park to Tegra Medical for $16.4 million
BOSTON, August 5, 2020 – On behalf of the partnership between leading real estate development and investment firms Condyne Capital Partners, LLC and Westpoint Capital Partners LLC, respectively, JLL announced today 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.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About 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. For more information on Condyne Capital Partners LLC, please visit www.condyne.com.
About Westport Capital Partners LLC
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. For more information regarding Westport Capital Partners LLC, please visit www.westportcp.com.