$39M Build Loan Gets Davis Started on Industrial Development in Wilmington
JLL has arranged $39.1 million in construction financing for the development of 38 Upton Drive at Upton Crossing in the Boston-area community of Wilmington, MA. The project will encompass two industrial/R&D facilities consisting of 214,440 square feet.
Brett Paulsrud and Senior Director Jonathan Schneider with JLL worked on behalf of Boston, MA-based Davis to place the construction loan with Middlesex Savings Bank, which was represented by Nick Giberson.
38 Upton Drive is being constructed on a 27-acre site located 17 miles from downtown Boston. The new development is located off Exit 35 on Interstate 93, a major transportation artery connecting the facility to Boston’s urban core.
With an expected delivery in January of 2023, Upton Crossing will 32-foot clear heights, LED lights, ESFR fire protection and ample parking. The facility will be part of an industrial park with more than 10 other industrial buildings, three of which are owned by the developer.
- ◦Development
- ◦Financing
