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Boston & New England  + New England  + Industrial  | 
Newmark has arranged $96.5 million for the refinancing and development two industrial assets in Westborough, MA.

Atlantic Management Secures $97M for Refi, New Build of Westborough Industrial Assets

Newmark has arranged $96.5 million in financing on behalf of Atlantic Management for two industrial assets that are located 35 miles west of Boston in Westborough, MA. The two transactions include a $70.5 million refinance for 50 Otis Street and a $26 million construction loan for 54 Otis Street.

Robert Griffin, David Douvadjian, Sr., Timothy O’Donnell, Brian Butler, David Douvadjian, Jr. and Conor Reenstierna represented the borrower. Harrison Zucco of Newmark provided financial analysis support.

50 Otis Street is a 406,437-square-foot R&D and industrial building that was fully renovated-to-suit and expanded in 2021. 54 Otis Street is a 100,000-square-foot, build-to-suit, high-bay industrial asset that is slated for delivery in mid-2023. Both properties are fully leased to a major e-commerce company.

50 and 54 Otis Street are positioned along Route 9 and between three major highways, interstates 90, 290 and 495, for access to the densely populated areas surrounding Boston, Worcester in MA and Providence, RI.


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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing