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Colliers Arranges $39M Loan for Class A Industrial Development in Boylston
Colliers has arranged $38.7 million in senior construction financing for the development of Pine Hill Drive, a fully approved, 396,375-square-foot, Class A warehouse and distribution facility in Boylston, MA.
A Colliers team of Jeff Black, Sean Burke and Bryan Koop worked on behalf of the borrower, Wakefield, MA-based NorthBridge Partners, to secure the loan from Cambridge Savings Bank. In addition, a Colliers team of Stephen Woelfel, Kevin Brawley, Kevin Hanna, PJ Foster and John Real are leading the lease-up effort.
With an anticipated delivery date of 4Q 2022, Pine Hill Drive will feature 36-foot clear heights, 92 dock-high doors, four drive-in doors, 45 trailer stalls and 492 parking spaces.
The 55.5-acre site is located immediately off Route 140 and I-290 with access to Interstates 495 and 190. Pine Hill Drive is located in the MetroWest employment corridor, accessible to New England’s major population nodes including Worcester, MA; Boston, MA; Providence, RI and Nashua, NH.
- ◦Development
- ◦Financing
