Back-to-Back Land Sales Totaling $18.2 Million Validate VMD's Long-Term Vision for 700,000 SF Master-Planned Development

MIDDLEBOROUGH, Mass., April 13, 2026 /PRNewswire/ -- VMD Companies announced the closing of its $11.6 million land sale to Indus, a Braintree-based roadway rehabilitation and pavement preservation contractor, at The Campus at Canopy Drive in Middleborough, MA. The transaction marks the second major land closing at the park in under a year, following VMD's $6.6 million sale to REXA, Inc., which closed in September 2025.

Combined, the two deals represent $18.2 million in land transactions and nearly 185,000 square feet of committed development at a campus VMD is building that can accommodate up to 700,000 square feet.

The closings are the product of a years-long effort by VMD Companies to assemble, entitle, and deliver a shovel-ready industrial campus at a moment when tightening credit markets and rising construction costs have put development deals under significant strain. That two institutional-quality land transactions were executed back-to-back in this environment reflects both the strength of the site and the persistence of VMD's leadership in seeing the project through.

"Canopy Drive reflects our ability to identify and execute on complex but compelling investment opportunities, while working in close partnership with town, local, and state officials to bring a project of this scale to fruition," said Phil Down, VMD Companies. "In a challenging macro environment, the leasing momentum at Canopy Drive validates the strength of the location, the quality of the site, and our team's disciplined execution of the business plan."

A Partnership Built on Shared Vision

Central to VMD's ability to execute both transactions was an active partnership with the Town of Middleborough. Recognizing the economic impact the park could generate, town leadership – including Town Manager James McGrail – extended Tax Increment Financing agreements to both REXA and Indus, providing a structured property tax incentive designed to support each company's financing and establishment in Middleborough. The TIF structure, voted through Middleborough's Town Meeting process, was a deliberate tool to ensure the town competed effectively for tenants that had options across the state.

Between the two deals, Indus and REXA are expected to bring a combined total of more than 145 jobs to Middleborough, with both companies committing to give priority in hiring to qualified local residents. For a town that has actively sought to attract manufacturing and commercial development to its West Grove Street industrial corridor, the back-to-back closings mark a significant inflection point.

Lot 4: Indus Headquarters and Operations Facility

VMD is developing a new 75,000 square foot corporate headquarters and operations facility for Indus, along with seven acres of industrial outdoor storage. Design work is underway. Indus, which currently operates from Braintree, plans to consolidate its headquarters and field operations at the new facility, bringing 20 permanent new jobs to Middleborough and giving priority to local hires across its mechanic, warehouse, and CDL driver roles.

Lot 2: REXA Manufacturing Headquarters

VMD broke ground on REXA's Lot 2 facility in November 2025. The 110,000 square foot manufacturing headquarters will consolidate all of REXA's engineering, design, and manufacturing operations under one roof for the first time. REXA, a manufacturer of industrial process control equipment serving the oil and gas, renewable energy, mining, and water sectors, is relocating from West Bridgewater and retaining 100 full-time positions while adding 25 new permanent jobs over a five-year period.

The facility was designed in close collaboration with Boston Industrial Consulting and REXA's operations team to optimize manufacturing workflow from receiving through shipping. The building incorporates 20,000 square feet of two-floor office space, 74-by-56-foot bay spacing, 28-foot clear heights, and strategically positioned loading docks and overhead doors. Integrated Builders is serving as Construction Manager, with STV acting as Owner's Project Manager. Construction is nearing completion.

What Comes Next

VMD intends to break ground on Lot 1 in summer 2026, advancing plans for approximately 240,000 square feet of shallow-bay industrial space across two speculative buildings designed to accommodate users ranging from 20,000 to 120,000 square feet. Lot 3, a 12.1-acre parcel permitted for up to 107,000 square feet, remains available. CBRE – exclusive leasing agent for The Campus at Canopy Drive – is leading the leasing campaign for the remaining and future phases of the park.

The Campus at Canopy Drive is located less than two minutes from the I-495 interchange, with one-hour access to Greater Boston (5 million population) and Providence (1.7 million population). The site is zoned to accommodate high-tech manufacturing, warehouse and distribution, research and development, and industrial outdoor storage users.

About VMD Companies

VMD Companies is a real estate investment and development firm based in North Andover, MA, focused on value-add and opportunistic commercial properties across the East Coast. The company offers integrated services including acquisitions, development, property management, and construction oversight. VMD is known for its hands-on approach, institutional-grade underwriting, and focus on ESG-compliant projects. Visit www.vmdcompanies.com for more information.

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SOURCE VMD Companies