Nahigian of Auburndale Realty Co. completes counseling assignment for 106,326 s/f facility

August 10, 2018 - Front Section
5 Forge Parkway - Franklin, MA
Rob Nahigian,
Auburndale Realty

Franklin, MA Auburndale Realty Co. has completed a counseling assignment that resulted in the expansion and leasing of 5 Forge Parkway. Rob Nahigian, of Auburndale was the real estate counselor representing the ownership, JD Family Trust on the additional leasing of its industrial facility to New England Treatment Access, Inc (NETA). NETA is a non-profit corporation with its roots in Colorado. The tenant had originally signed a long-term lease in 2013-14 for 61,000 s/f of warehouse, 10,000 s/f of mezzanine space and 1,176 s/f of garage space. The total was 71,326 s/f for medicinal marijuana grow facility. Nahigian served as the real estate counselor on the first phase of the assignment for JD Family Trust for the 71,326 s/f. The warehouse facility was formerly occupied by Ferguson Plumbing for a number of years. NETA approached JD Family Trust to lease the entire facility as its medicinal facility back in 2013. NETA was one of the first entities to receive a license from the state to grow medicinal marijuana. NETA has had success in Colorado and brought that experience to Mass. 

The company has grown its business and had a need for additional space. NETA and JD Family Trust have been negotiating for a new construction addition of 35,000 s/f. The total lease facility is 106,326 s/f. Additionally the tenant has extended its lease to a longer term. The lease amendment was executed this spring. Construction was completed in July, for the expansion. Numerous approvals were required by the town and state for this facility. Nahigian has been counseling numerous commercial and industrial projects for JD Family Trust since 2009. 



Add Comment

More from the New England Real Estate Journal