Development partners, Brennan Group(TGB), John M. Corcoran & Co.(JMC), and Berkeley Partners recently broke ground on Gateway Central in Leicester, Massachusetts. This will be their second industrial facility in the region, which features 267,600 square feet of speculative warehousing space. At the event, several Town of Leicester officials gathered along with representatives from TBG, JMC, and equity partner Berkeley.
JMC’s Executive V.P, Peter Mahoney said their decision to proceed with Gateway Central was due to the strong market demand. He pointed out that the location was central to all of New England, and also provides access to major highways. Especially since it’s just 10 minutes away from Turnpike I-90, I-290 & I-395 Interchange, and Route 20.
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In addition to Gateway Central, the trio joint-venture is also constructing another 372,000-square-foot facility dubbed Lunenburg Central. This warehouse/distribution is expected to be delivered in January 2023. Its location in Lunenburg is in close proximity to Gateway, which is situated at 90 Huntoon Memorial Highway, adjacent to Worcester.
Development plans for Gateway Central
Construction on Gateway Central which began late last year is currently on schedule to be completed by Q2 of 2023. Thus far, the foundation work and building padding have already been completed on the site. The next stage of the development involves erecting the steel and exterior walls for the facility.
GMA Architects and ARCO National are the development team working on the design and construction of the project. This is the same team that worked on Lunenburg Central. The design used for the 267,600-square-foot Gateway Central facility consists of multiple subdivided spaces for tenants. Upon completion, the facility will provide 36′ clear heights, 45 overhead doors, and 3 drive-in doors. On top of that, it also includes 299 vehicle parking spaces, 59 trailer/van parking stalls, and build-to-suit office spaces.
Newmark Industrial will handle the leasing arrangements, alongside Will Kelleher of Central MA-based Kelleher & Sadowsky Associates. Meanwhile, the construction financing for the project will be provided by HarborOne Bank.
