News: Finance

JLL secures $92 million in financing for
Fordham Park Robotic and Logistics site

Wilmington, MA JLL Capital Markets secured $92 million in financing for Fordham Park Robotic and Logistics Campus, a three-building robotics, R&D and distribution park.

JLL worked on behalf of the borrower, Carlisle Capital Corp., to secure a five-year loan through M&T Bank.

Located at 100-110 Fordham Rd., the 393,911 s/f campus is on 40.1 acres and features high-bay R&D, robotics, and distribution space. The park is fully leased to credit tenants in e-commerce, warehouse automation/robotics, and semiconductor equipment/industrial automation industries.

Fordham Park is located off I-93 (exit 33), offering connectivity to the region’s major distribution corridors, including I-95 and I-495, and providing access to Boston and Southern New Hampshire. The property is positioned to appeal to a variety of industrial, flex and R&D tenants who require locations near major thoroughfares, allowing for distribution to all points north, south, east and west.

The JLL Debt Advisory team was led by senior managing director Tom Sullivan.

“Fordham Park represents the premier robotics and logistics campus in Boston’s best industrial submarket. The sponsor’s execution of a complete re-positioning of the park created incredible leasing demand and made it one of the most unique financing opportunities for lenders in this environment,” said Sullivan. “The northern Boston submarket continues to demonstrate strong fundamentals and remains a desirable location for industrial and R&D tenants.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.

Tags: Finance
MORE FROM Finance

Eastern Bank donates $2 million to Lynn Public Schools

Lynn, MA The city of Lynn’s purchase of the former Eastern Bank headquarters at 195 Market St. is paying dividends in more ways than one. In issuing an RFP in the spring of 2024, the city was seeking to acquire multi-purpose space,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
It’s a confusing real estate world: Don’t you think? - by Daniel Calano

It’s a confusing real estate world: Don’t you think? - by Daniel Calano

The news is full of “never before” pronouncements. Never before has there been a pandemic so impactful on real estate. Never before has technology allowed for remote business meetings on such a frequent basis. Never before would people so comfortably work from home as to vacate office buildings, at least on Fridays and Mondays.
 Real estate without good estate planning - a troublesome problem - by Daniel Calano

Real estate without good estate planning - a troublesome problem - by Daniel Calano

I spent the better part of a day this week working with attorneys on estate planning. I am clearly not an attorney, but I have learned much over the years while consulting on real estate, its potential, its future during the life of clients, as well as, shall we say, later.
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.