Life of the Deal: 530 Turnpike Street, Easton MA
Transforming 530 Turnpike Street: From Driving Range to Cutting-Edge Warehouse
Easton, MA - In a momentous development, 530 Turnpike Street is undergoing a remarkable transformation from a driving range to a cutting-edge warehouse facility. Hunneman played a crucial role in the successful sale of the 79-acre parcel to Rhino Capital Advisors LLC (“Rhino”), the financing, and the long-term lease of the warehouse space to Beacon Roofing Supply, the largest publicly traded distributor of roofing materials and complementary building products.
Under the expert guidance of Hunneman’s Executive Vice Presidents, Ned Halloran, Leeanne Rizzo, Ken Oppenheim, and Assistant Vice President Connor Hayes, the seller, Easton Golf LLC, found the perfect buyer in Rhino. The transaction was further supported by the Capital Markets debt placement team, led by Hunneman’s Executive Vice President Andrew Kaeyer and Assistant Vice President Bill Rand, who identified the lender, HarborOne Bank and arranged the construction financing, ensuring a smooth financing process.
Conveniently located just 1.5 miles from route 24, 530 Turnpike Street proved to be an ideal choice for Rhino’s ambitious plans. The development process is currently in full swing, with Rhino completing the permitting process and commencing construction on a state-of-the-art 101,200 SF built-to-suit high-bay warehouse facility. Featuring a striking 36’ clear height and modern specifications tailored to meet the demands of today’s warehouse occupiers, the building is set to redefine industrial development in the area.
Anticipated to be completed in Q2 2024, Beacon Roofing Supply has signed a full-building lease, signaling a pivotal moment as they plan to relocate their local operations to this cutting-edge facility. The strategic relocation will enable an enhanced distribution network, further solidifying Beacon’s position as the leading supplier in the roofing materials and building products market.
The journey from driving range to cutting-edge warehouse stands as a testament to the diligence and collaboration of all parties involved. With Hunneman providing dedicated representation and advisory services, along with Rhino's expertise in recognizing the opportunity and executing flawlessly, and Beacon Roofing Supply's visionary approach, this transformative project has the potential to reshape the industrial development landscape in Easton, MA. As construction progresses, stakeholders eagerly await the day when Beacon Roofing Supply makes its move to the impressive 530 Turnpike Street location.
For more information please contact:
Ned Halloran, Executive Vice President, Principal | nhalloran@hunnemanre.com
Leeanne Rizzo, Executive Vice President, Principal | lrizzo@hunnemanre.com
Ken Oppenheim, Executive Vice President, Principal | koppenheim@hunnemanre.com
Andrew Kaeyer, Executive Vice President, Principal | akaeyer@hunnemanre.com
