John D. Murphy Co., a real estate development and investment firm, held a groundbreaking ceremony for a new 117,200 s/f office/warehouse building at its Walpole Park South complex. Local officials along with the ownership, the exclusive leasing team of NAI Hunneman, and the design-build team of Advantage Construction attended the ceremony.
"We're very excited to begin construction on the South Shore's only speculative warehouse building in Massachusetts in 2011," said Donnelly Murphy, president of John D. Murphy Co. "We have assembled a great team for this project and look forward to its completion and lease up."
The existing seven-buildings at the 466,000 s/f Walpole Park South are now fully leased with recently completed transactions to Fulfillment Services (15,000 s/f), The New England Patriots (10,000 s/f) and Specialty Flooring Systems (5,000 s/f). The new project will be the 8th building at this 54-acre complex.
NAI Hunneman has been the exclusive agent for Walpole Park South since 1989. Cathy Minnerly, executive vice president at NAI Hunneman, is heading the building's marketing efforts.
"Walpole Park South offers a great location on Rte. 1, is approximately one mile off I-95, and offers all modern amenities," said Minnerly. "We have already reached 100% occupancy with the existing space at Walpole Park South, and are excited to continue that momentum with the new building."
Located at 3 Walpole Park South Dr., the new building sits on a 9.05-acre site.
About NAI Hunneman:
Founded in 1929 and headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. Through its association with NAI Global, NAI Hunneman is a local firm with global reach offering brokerage and project management services in more than 325 markets across the nation and around the world. For more information, visit NAI Hunneman's website at www.naihunneman.com.