Braintree-based commercial real estate development and construction firm Campanelli Cos. has formed a joint venture partnership with Dallas, Tex.-based TriGate Capital and has acquired nine properties.
The two firms will work together to identify investment opportunities in the New England region, according to a statement.
"Our firm seeks out best-in-class operators," said Jon Pettee, managing member at TriGate Capital. "We chose to work with Campanelli because of its ability to identify real estate opportunities, as well as reposition, develop and manage property."
"During these economic times, our firm has continually looked for ways to capitalize on opportunities as they arise," said Dan DeMarco, partner at Campanelli Cos. "Our partnership with Tri-Gate Capital will afford us increased flexibility and speed in decision making and completing deals."
Campanelli Cos. and TriGate Capital first acquired a 101,060-square-foot office space located at 30 Perwal St. in Westwood, according to a statement. Grubb & Ellis Vice President Taryn Wilson facilitated the transaction on behalf of Campanelli Cos. Adam Subber, principal at Cresa Partners, represented the seller, Analog Devices.
"When 30 Perwal Street came on the market, I knew Campanelli would appreciate the inherent value in the property, said Wilson. "The building is in a great location and contains the infrastructure to accommodate various uses."
On Monday, Campanelli Cos. acquired eight properties throughout eastern Massachusetts and southern New Hampshire, according to a statement. These include 44,804 square feet at 700 Park Drive and 42,291 square feet at 900 Technology Park Drive in Billerica; 49,500 square feet at 5 Cornell Place and 39,727 square feet at 10 Cornell Place in Wilmington; 25,000 square feet at 255 Ballardvale St., 60,068 square feet at 261 Ballardvale St. and 73,500 square feet at 265 Ballardvale St. in Wilmington; and 137,000 square feet at 9 Townsend Drive West in Nashua, N.H.
"These acquisitions are excellent investment opportunities for Campanelli," said Stephen Murphy, principal of acquisitions at Campanelli Cos. "The assets fit our current value-added investment strategy perfectly."
