East Greenwich, RI Gaspee Real Estate Partners, a full-service commercial real estate firm focused on development, investment and asset management, has merged with J2 Properties, a Rhode Island-based commercial real estate investment company.

The new firm, Gaspee Companies, will focus on acquiring, developing and repositioning value-add properties throughout the U.S. It will also continue to specialize in single tenant net lease development in the Northeast.  Gaspee Companies currently owns and manages a portfolio of 30 properties with a value over $100 million. Gaspee has an additional $80 million in the pipeline for 2022. Recent projects include repositioning a vacant 42,000 s/f Sports Authority, acquiring and renovating a 55,000 s/f office building leased to the federal government, and the ground up development of a neighborhood shopping center in North Conway, N.H.

Steve Hardy and Chris Needham, principals and co-founders of Gaspee Real Estate Partners will continue to serve as principals of Gaspee Companies.  Jeff Cammans, founder of J2 Properties will serve as principal of the newly formed company.

“Jeff built J2 in one New England’s premier commercial real estate firms in just six short years,” said Hardy. “His ability to identify new opportunities and immediately increase value is something that we intend to build on swiftly.”

Cammans went on to say “This is a great opportunity to combine the strength and resources of two successful, like-minded companies. I look forward to building upon the thriving development business that founders, Steve and Chris have created, while simultaneously growing our asset portfolio.”