JLL Secures CTL Financing for State Police Training Facility

JLL Capital Markets arranged Credit Tenant Lease (CTL) financing for the development of a 200,000-square-foot, purpose-built laboratory and training facility for the Massachusetts State Police in Marlborough, MA. Senior managing director Brett Paulsrud and managing directors Andrew Gray and Michael George worked on behalf of the borrower, Greatland Realty Partners and its investment partners, to place the CTL loan directly into the private placement bond market through the co-book running efforts of JLL Securities, LLC and Mesirow Financial.

Construction of the Crime Laboratory is scheduled to begin imminently, with the opening planned for the first quarter of 2028. The new four-story facility will consolidate the current Maynard and Sudbury crime labs into a single location and is fully leased to the Commonwealth of Massachusetts through a 20-year, NNN lease.

The project is located about 30 miles west of Boston at 100 Martinangelo Drive in Marlborough, near major highways, including Interstates 90, 290 and 495. The 24-acre site was selected for its capacity to support new jobs and additional economic development the facility will bring to both the city and surrounding areas.