Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Colliers Secures $52M Refi for 370K-SF Peabody Facility
Colliers recently secured a $52.75 million refinancing for 140 Summit Street in Peabody, MA, a headquarters warehouse and distribution center. Led by John Broderick and Patrick Boyle, the Colliers team worked with Oliver Street Capital and Bain Capital Real Estate to arrange the financing with Barings.
The 370,000-square-foot property serves as the e-commerce retailer’s headquarters, with plans to expand its footprint by adding an 82,790-square-foot high bay warehouse. This financing replaces previous debt and provides construction funds for the expansion.
“Barings did an exceptional job executing on a tight timeline in this turbulent market. Barings delivered market-leading terms that allow Oliver Street and Bain to retire the existing debt as well as fund construction dollars for the tenant to expand and consolidate its operations,” stated Broderick. The property’s location offers access to major transportation routes, including Route 128, I-95, and Route 1, as well as proximity to Logan International Airport and the Port of Boston.
- ◦Financing
