Wheelock Street Capital and Camber Development have successfully secured $57 million in construction financing for their latest project, 800 Salem St. This industrial logistics development, located in Wilmington, MA, spans over 237,800 square feet and is currently under vertical construction.
Expected to be completed by Q3 of 2024, the property boasts impressive features such as 47 dock positions and two drive-in doors. With a clear height of 36 feet and truck circulation capabilities along with ESFR fire suppression systems installed throughout the building – this development is set to become one of the first fully electric warehouses in Massachusetts.
The borrowers were represented by JLL who helped secure a three-year construction loan from a national bank. Led by Steven Klein, Brett Paulsrud and Ryan Parker – JLL’s team was able to navigate through challenging market conditions to secure funding for this well-located project backed by top-tier sponsorship.
This latest achievement marks yet another milestone for Wheelock Street Capital and Camber Development as they continue their successful partnership in delivering high-quality developments that meet both industry standards as well as environmental sustainability goals.
