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NorthBridge Secures $37M Construction Loan for Billerica Industrial
Cushman & Wakefield arranged a $37-million construction loan for the ground-up development of a two-building industrial park at 315 Treble Cove Rd. in Billerica, MA. The project will deliver 222,050 square feet of Class A industrial space intended to accommodate a range of users.
The Cushman & Wakefield Equity, Debt & Structured Finance team of Rob Borden, Heather Brown, Nolan Alexander and Rehan Munsiff, with Blake Baldwin proving leasing expertise, represented the borrower, NorthBridge Partners, in securing the financing. Principal Asset Management provided the loan, led by Jared Zatloukal and Katherine Boffeli. Construction began this past spring, with delivery anticipated in the first half of 2027.
“The transaction drew significant attention across capital sources given the profile of the development and the strength of NorthBridge’s platform,” said Borden. “From a financing perspective, it aligned with what lenders are seeking today, top tier sponsorship and modern well-located industrial product with a clear path to lease-up.”
Connect Industrial West | August 20 | Irvine, CA
On August 20, Connect Industrial West will bring together the owners, investors, developers, brokers, lenders, and occupiers driving industrial real estate across the Western U.S. Join top decision-makers for an afternoon of market insights, dealmaking opportunities, and networking with the industry’s most influential players. Register now: www.connectindustrialwest2026.com
- ◦Development
- ◦Financing
