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When he was in college three decades ago, Dave Dirubbo dreamed of building the small construction company he started with his brother Anthony into a thriving business. But after he was diagnosed with stage IV lymphoma, those dreams were put on hold. However, after winning the hard-fought battle with cancer, Dirubbo did not waver and started Pembroke-based Acella Construction 15 years ago, where Anthony is now an integral part of the team.
“Battling cancer taught me the importance of each day, being grateful and living life to the fullest,” Dirubbo told Banker & Tradesman. “It also showed me that it is important to follow your dreams.” The company does pre-construction and design-build services and construction management in projects throughout the state and New England. They have built all sorts of buildings including learning spaces, workspaces, community projects and health and wellness facilities. Banker & Tradesman caught up with Dirubbo to discuss the commercial real estate market and the economy.
Q: It seems like you have done construction all over the state and in New England. What is one geographic area in Massachusetts or New England that is doing well that might surprise people?
A: It’s tough to say that any one geographic area is a surprise in this economy. Right now, everything is booming. For certain, the large urban areas, such as Boston, have lots going on, but everyone I talk to in this industry is busy, no matter where they are in the region. The same seems true for the related professionals we come in contact with, the architects and commercial real estate salespeople. Prior to this economic resurgence, if I were to pick a geographic region where activity was a bit slower, I’d have said Rhode Island and the western part of the state. Now everything is going full steam, which is good news for all of us.
One of Acella Construction’s projects for Massachusetts Institute of Technology, Laboratory for Nuclear Science Building 24 5th floor.
Q: Acella does many different types of construction. What business segment is doing well right now and which one is slowing down?
A: Two market segments keeping us very busy are education and health care. Both are in strong growth modes. We do a considerable amount of work for Boston-area universities, including Northeastern and MIT. In this sector, we get extremely busy between May 15 and Aug. 30 because our clients seek their renovations and new construction work completed with minimal disruption to their academic schedule. Our projects include building and renovating laboratories, classrooms, offices, a cafeteria, an auditorium and in one instance literally elevating a building to construct a larger foundation.
In the health care space, we recently built a prototype for an urgent care facility. We have also built a healing garden area, a place for families of loved ones to go. On a larger scale, we recently upgraded one of the larger buildings at a prominent healthcare facility as well. Both sectors – health care and education – are very, very strong.
Q: How is the lending environment right now? Are your clients having an easy time finding financing? Who are the main sources?
A: The lending environment seems good. We haven’t heard of anyone complaining about the availability of funds or the rates. It doesn’t seem to be an issue in this full economy.
Q: Most experts surmise that the current cycle has about one or two years left before a recession or slow down. What are your thoughts?
A: Things happen in cycles; we all remember 2008 and 2009. However, with the way the economy is now, and the way that the construction industry is going, it’s difficult to see a slowdown coming. I believe there is enough momentum in this economy so that there will be no slowdown over the next couple of years. So, I remain very optimistic about the future and this economy.
Dirubbo’s Five Favorite Activities Outside of Work:
- Mountain bike rides
- Company yoga
- Dinner and drinks
- Golfing
- Giving back to the community
