Urban Strategy Fund : A new Boston Real Estate Fund

EAST HARTFORD (June 24, 2010) - The Urban Strategy America (‘USA') Fund, a New Boston Real Estate investment fund joined Mayor Melody A. Currey in a ceremonial ribbon cutting today at 71 George Street in East Hartford. 

 

The original 50,000-square-foot warehouse and distribution facility was destroyed by a fire on December 7, 2009.  With assistance from the Town of East Hartford, New Boston Fund's vertically integrated construction and asset management teams were able to successfully complete the rebuilding process in less than six months.

The newly built 53,000-square-foot facility is owned by New Boston Fund's USA Fund, a triple bottom line real estate investment fund.  The building includes 8,000-square-feet of office space and 45,000-square-feet of 28 foot clear high bay warehouse space.  The building also features five loading docks, two drive-in doors and 51 parking spaces.

 

"We really appreciate the commitment and cooperation we received from of the Town of East Hartford in rebuilding this facility," said Kirk Sykes, President Urban Strategy America Fund.  "We are proud to have rebuilt the building in such a short time frame, and now enjoy the added benefit of having a brand new, state-of-the-art, class A warehouse facility in our portfolio."

 

New Boston immediately assembled a team of expert engineers and architects, and was able to design a new building and obtain site plan approval from the town within 37 days of the fire.  A certificate of occupancy was issued on May 26, 2010, 170 days after the fire.  The Town of East Hartford assisted in expediting this process, and allowed New Boston Fund to meet their internal deadline.

 

"We are very pleased that they decided to rebuild and it is a perfect example of the private and public sector working in cooperation to get the job done right and quickly", said Mayor Melody A. Currey.

 

The reopening was also covered by two local news stations, you can see the coverage by clicking the links below:

 

http://www.wfsb.com/video/24028368/

 

http://www.ctnow.com/videobeta/319f1bd5-2638-4d35-90b5-6409726e513f/News/6-24-East-Hartford-Fire-Follow-Up

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