{"id":1004118773,"date":"2015-05-05T11:32:40","date_gmt":"2015-05-05T19:32:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=344761"},"modified":"2020-05-20T00:35:44","modified_gmt":"2020-05-20T08:35:44","slug":"martignetti-grabs-115-acres-for-new-regional-hqs-in-taunton","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/martignetti-grabs-115-acres-for-new-regional-hqs-in-taunton\/","title":{"rendered":"Martignetti Grabs 115 Acres for New Regional HQs in Taunton"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/em><\/p>\n

One of the largest and oldest alcohol distributors in the country is looking to consolidate its operations by moving into a new regional headquarters and distribution center building south of Boston.<\/p>\n

\"Martignetti<\/a><\/p>\n

Martignetti HQs in Norwood MA<\/p>\n<\/div>\n

According to NAI Hunneman, a Boston-based provider of commercial real estate services, Martignetti Cos. acquired 115 acres at the Myles Standish Industrial Park in Taunton in a transaction valued at $11.5 million. NAI Hunneman represented the Taunton Development\/MassDevelopment Corporation in the sale, while CBRE spoke for the buyer.<\/p>\n

Martignetti, which started as a family-owned grocery store in Boston\u2019s North End in 1908, will invest $100 million in the new regional headquarters. This will consolidate the company\u2019s two separate facilities: the 450,000-square-foot office building at 175 Campanelli Drive in Braintree, and the 350,000-square-foot facility at 975 University Ave. in Norwood.<\/p>\n

With the official groundbreaking set for next month, Martignetti\u2019s new 680,000-square-foot home will house approximately 800 employees who will relocate from the two existing offices, a move that is expected to boost the area\u2019s job market. The project is due for completion in spring 2016, coinciding with the completion of Dever Drive, an access road to the business park.<\/p>\n

The Herald News<\/a><\/em> reported that Martignetti was lured to the industrial park in Taunton thanks to tax increment financing agreement (TIF) that will save the company $5.1 million in property taxes over the next 20 years. Additionally, Martignetti\u2019s investment is expected to yield another $6.3 million in taxes for the city.<\/p>\n

Image via Martignetti<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

One of the largest and oldest alcohol distributors in the country is looking to consolidate its operations by moving into a new regional headquarters and distribution center building south of Boston. <\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21742],"tags":[],"class_list":["post-1004118773","post","type-post","status-publish","format-standard","hentry","category-boston","category-latest"],"acf":[],"yoast_head":"\nMartignetti Grabs 115 Acres for New Regional HQs in Taunton - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/martignetti-grabs-115-acres-for-new-regional-hqs-in-taunton\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Martignetti Grabs 115 Acres for New Regional HQs in Taunton\" \/>\n<meta property=\"og:description\" content=\"One of the largest and oldest alcohol distributors in the country is looking to consolidate its operations by moving into a new regional headquarters and distribution center building south of Boston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/martignetti-grabs-115-acres-for-new-regional-hqs-in-taunton\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-05T19:32:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-20T08:35:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Martignetti-HQs-in-Norwood-MA.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/martignetti-grabs-115-acres-for-new-regional-hqs-in-taunton\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/martignetti-grabs-115-acres-for-new-regional-hqs-in-taunton\/\",\"name\":\"Martignetti Grabs 115 Acres for New Regional HQs in Taunton - 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