FALL RIVER, MA – FoxRock, a commercial real estate investment and development firm on the South Bank, has added another major industrial acquisition to its growing portfolio.
The company, which recently announced major projects in Mansfield and Weymouth, has now closed a deal to acquire 164,487 square feet of property in Fall River.
The property at 848 Airport Road housed the manufacturing headquarters of several companies. New England Ropes held the building for many years before being acquired by current tenant Teufelberger in 2009.
Teufelberger, an international rope manufacturer with a turnover of over $ 300 million, is family-owned and operated since the 1700s. The company, best known for its variety of high quality rope products for the military and maritime industry, has a lease agreement for the entire property until 2025.
“We believe in the future of American manufacturing,” said Mark Carroll, Managing Director of FoxRock, “and we are delighted to welcome the historic and world famous Teufelberger to the FoxRock family.”
“We are keen to begin our relationship with this highly respected specialty product company, which is a key driver of economic opportunity for the Southeast Massachusetts region,” said Brian Giudicelli, director of business development for FoxRock. “As FoxRock continues to expand across Massachusetts, we remain committed to the thoughtful, community-driven approach that differentiates our company.”
With this latest acquisition, FoxRock’s portfolio now includes over 4 million square feet of real estate by asset class. FoxRock is also actively involved in the rapid renaissance of the Quincy Center, where it has several important projects under development.
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