Boston, MA The grand opening of the new J.C. Cannistraro fabrication, manufacturing and design facility was held in June. Robert Cleary, SIOR, CRE, Colliers International and Rob Nahigian, FRICS, CRE, SIOR, MCR of Auburndale Realty Co., were the real estate advisors and brokers that took the project from initial planning to its final lease negotiations at 25 Fid Kennedy over the last 4 years. J.C. Cannistraro, of Watertown, is relocating its manufacturing facility with over 200 industrial employees on a 70 year long-term lease. The lease was negotiated by Cleary and Nahigian and is the first of its type in arguably over 50 years in the Seaport. It is significant both because of its longevity and industrial impact.
The event started at 10:30 a.m. and attracted over 400 professionals including mayor Martin Walsh and the director of the Boston Redevelopment Authority, Brian Golden.
Cannistraro renovated the 160,000 s/f building at 25 Fid Kennedy (now known as The Fid) and created 200 manufacturing jobs in the Raymond L. Flynn Marine Industrial Park.
Cannistraro consolidated its trades, and relocated the company’s machine shops from Wilmington, Stoughton and Watertown. They moved these operations into 25 Fid in March. The building took two years of renovating to bring this former U.S. Army WWII building to its historic preservation stage. In its over 50 years in business, Cannistraro has grown from a plumbing company into a multi-trade contracting company offering plumbing, HVAC, piping, sheet metal and fire protection services. The majority of Cannistraro’s work is within greater Boston serving commercial, medical, educational institutions and other facilities.
The property at 25 Fid Kennedy played an integral role in the WWII and post-WWII war effort and is located in the 58 acre South Boston Army Annex, contained within the 167 acre South Boston Naval Annex. After extensive negotiations, EDIC and the Boston Redevelopment Authority awarded Cannistraro final designation on June 9, 2016. The lease was executed on August 31, 2016. During the due diligence of the property, Cannistraro developed plans to completely renovate, enhance and redesign the former U.S. Army Annex while preserving the rare Art-Deco character of this massive steel-framed former metal shop. June 14 was the grand opening to showcase those renovations.
At the event, the mayor of Boston spoke highly of Cannistraro and the new jobs being created by the company. He mentioned that the South Boston area has transformed from a fish market to new hotels, headquarters and offices for GE, Skanska, Amazon and is now one of the hottest locations in the U.S. for development.
John Cannistraro, president, said that the company needed to change as has the city’s skyline on side of the building and the abutting sea on the other side of the building. This facility will give his company the ability to evolve for generations to come.
Auburndale Realty Co. exclusively represented Cannistraro in this lease transaction. Both Cleary and Nahigian acted as real estate counselors and brokers on this assignment. They researched over 100 sites between Boston, Manchester, Worcester and Providence in their efforts to find this facility. Cleary and Nahigian negotiated the letter of intent and the 200 page lease document.