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Tue, Feb 18
A Compendium of Property & Capital News
Feb 18
A Compendium of Property & Capital News

New Mill Cap / Dacon Break Ground for $7.5M Renovation to Former Glass Manufacturing Plant

August 22, 2019

Milford–New Mill Capital and Dacon Corporation broke ground on a $7.5 million renovation to the former Ardagh glass manufacturing plant. As one of Ardagh Group’s 13 US manufacturing plants in operation from 1972 to 2017, the 47-year-old, 322,000 sf facility situated on 34 acres was purchased by New Mill Capital in the fourth quarter of 2018 to be transformed into a modern distribution center in response to Metro Boston’s growing facility demand.

As one of the nation’s largest asset development firms, New Mill Capital has a keen eye for investing in turn around properties. With clientele focused in the food and beverage, personal care, packaging, plastics, metalworking, and general manufacturing sectors, New Mill handles disposition for both equipment and property assets.

Planned improvements for this facility include new insulated metal panel siding, roof insulation, and TPO membrane, fire suppression system, heating and electrical. Additionally, 12 loading docks with 30,000 lb levelers and full site paving are planned. Major demolition and construction activities commenced in July. Completion of the restoration is anticipated by end of this year. Newmark Knight Frank represented New Mill Capital in the purchase of 1 National Street and are the exclusive agents for this project.