News
IT'S ALL ABOUT VALUE ADD
March 29, 2011
 |
| Among the more active buyer/developers in the region, CampanelliCos has spent about $40M in the past 12 months to buy and upgrade 16 CRE properties totaling 1M SF. Steering the Campanelli ship are: (seated) partner Jeff DeMarco and Russell Dion, and (standing) Mike Kelly, partner Dan DeMarco, Peter Brown, partner Steve Murphy, partner Rob DeMarco, and Mike Carroll. Dan tells us their recent partnership with TriGate Capitalof Dallas is designed to buy value add properties. They want office, flex, and healthcare CRE in good locations they can aggressively reposition for a price that'll attract value-conscious tenants and investors. So far, they've closed on buildings in New Hampshire, the North Shore, and the Rt. 128/495 corridor. Dan says they're ready to move quickly to do more such deals this year. He's optimistic that banks—especially regional banks—will continue to respond well to their financing requests. |
 |
| The construction team includes: (standing) Dan Kelliher, Adrienne Pearl, Ralph Perelis, Jeff DeMarco, Gerry Scampoli, Dave Vroman, and Dick Halverson. Led by Jeff, the team has about$50M in projects going now and expects to end the year with about $70M. Dan DeMarco tells us this may not be ?07 when they tallied$175M, but they're satisfied. Some recent projects include Two Pond Parkway in Hingham, an 80k SF medical facility and two freezer facilities in New Jersey: 150k SF in Linden and 46k SF in Kearney. Also another 80k SF industrial project in NJ. Thesestorage and distribution complexes are designed to safeguard and hold high-end perishables, like one of our personal favorites,lobster. We prefer the technical term: multifamily for crustaceans. |
 |
| Rob DeMarco and Lisa Nickerson are with engineer David Kellyand architect Wayne Benson. These two men run their own firms housed at Campanelli HQ in Braintree to quickly turn around projects. Why so many DeMarcos in a company namedCampanelli? The Campanelli family started the biz in ?47. Over several decades, they built 35,000 single-family houses from New England to Chicago and down to Florida. In 1960, their nephew Bob DeMarco (father of the current DeMarco execs) started a commercial division that's led to 20M SF of development in the Northeast. In the early '80s, Campanelli stopped doing residential. Now, the company has a staff of 55, owns and manages 4M SF of CRE and 200 acres of business park land around the state that's permitted and ready for development. |
