Boston Freight Terminals (BFT), a twenty-five year fixture on the Boston waterfront, has partnered with Cargo Ventures LLC to build the $52 million, 305,000 square foot facility.
Boston Freight Terminals, which specializes in warehousing, and Cargo Ventures LLC, a developer of freight facilities, spearheaded the redevelopment project that also includes New England Development and the Fallon Company. According to the BRA, the new group will have a 65-year lease on the land.
BFT will be the largest tenant in the new cargo center, with about 90,000 square feet. BFT handles around 85,000 tons of freight annually and expects to add 50% in floor space and a tripling of capacity with the new center, when compared to its existing operation. The new buildings will feature 26-foot-high ceilings, open floor space for oversized loads, and easy access to the loading docks.
The decision to redevelop the facility was partly dictated by the superb location. The facility has easy access to I-93, the Massachusetts Turnpike, Logan Airport, and Massport's Conley Container Terminal. Massport recently began an 18- month, $25 million capacity enhancement program at Conley Terminal. Under the plan, the cargo handling capacity at Conley Terminal will increase by 50%.
The project is planned for construction in two phases. Phase 1 will see the construction of the 209,000 square foot warehouse and office space at 6 and 10 Drydock Avenue. Construction is estimated to take about 11 months.
Subsequently, new warehouse and office support will be built in place of the current building 239 Northern Avenue with construction estimated to begin in late 2006.
Jacob Citrin of Cargo Ventures LLC. said at the ground breaking, "We are proud of our investment in the Marine Industrial Park and are committed to the future of the South Boston Waterfront." BFT President Neil Fitzpatrick added, "We are looking forward to expanding our operations in a way that will have positive impacts on Boston's economy by producing jobs and economic opportunities."