V
MD Companies has sold a 16.3-acre lot at the Campus at Innovation Way Industrial Park in Fall River, MA, to FreezPak Logistics, a national cold-storage third-party logistics company. The sale will accommodate approximately 200,000 square feet of development and is part of a larger project that includes 900,800 square feet of fully entitled space.

    The property was purchased by VMD Companies in 2023 for an undisclosed price. FreezPak has agreed to pay $10,750,000 for the building lot, which will be used to develop a 203,397-square-foot state-of-the-art Class A cold storage facility. Construction is expected to begin in early 2025.

    The Campus at Innovation Way offers prime access to major highways and population centers, making it an attractive location for businesses such as cold storage, logistics, and manufacturing. VMD Companies will retain the balance of the project, which includes an additional 700,000 square feet of development spread across multiple buildings and lots.

    "We're thrilled to welcome FreezPak into the park," said Phil Down, CEO and co-founder of VMD Companies. "The Campus is well-positioned to become a hub for cold storage and manufacturing users in the Greater Boston market."

    VMD Companies has been actively acquiring and repositioning industrial assets throughout Massachusetts, with over two million square feet of modern high-bay space currently under development or redevelopment. The company's portfolio includes recent projects such as a 98,150-square-foot warehouse for PODS in Littleton, MA, and the redevelopment of the former Necco confectionary building in Revere, which was later sold to Clarion Partners for $355 million.