Oliver Street, Bain Capital Buy $11M 1970-Vintage Industrial Building in Lowell
JLL has arranged $10.6 million in acquisition financing for a 55,325-square-foot, vacant industrial asset at 160 Industrial Avenue in the northern Boston community of Lowell, MA.
Brett Paulsrud and Amy Lousararian with JLL worked on behalf of the borrower, a partnership between Oliver Street Capital and Bain Capital Real Estate, to place the five-year, fixed-rate, non-recourse acquisition loan with Centreville Bank. The borrower has engaged JLL to lease the currently vacant building.
The building was constructed in 1970 as a single-story asset with a mezzanine office space. It has 22-foot clear height, nine tailboard loading docks, four drive-in doors, 26 trailer parking stalls and 84 employee parking spaces.
160 Industrial Avenue is positioned on 5.01 acres 22 miles north of Boston and within Lowell’s Industrial Avenue corridor. The property is also adjacent to the Lowell Connector off Route 3 and at the interchange of Interstate 495, along with the Middlesex Turnpike.
- ◦Sale/Acquisition
