JLL Capital Markets has completed the sale and financing of 215 Salem St., a shallow bay industrial property totaling 62,155 square feet in Woburn, MA. The transaction involved the disposition of the building to Kadima Industrial Partners and the placement of acquisition financing for the new owner.
Director Tommy Hovey, senior director David Coffman and managing director Michael Restivo of JLL Capital Markets represented the seller in the sale to Kadima Industrial Partners. On the financing side, director Ryan Parker from JLL's Debt Advisory team arranged acquisition financing on behalf of Kadima with Webster 5 Cent Savings Bank.
The single-building industrial asset was constructed in 1984 and is located in Greater Boston's Route 128 North submarket, approximately 11 miles north of downtown Boston. The property offers direct access to Interstates 93 and 95 as well as Route 3, positioning it along key highway corridors that connect to the region's primary logistics networks and employment centers.
JLL notes that the facility's combination of infill location, last-mile connectivity to Boston and multiple highway linkages contributed to Kadima's interest in the acquisition. Hovey highlighted that the tenant base spans logistics, manufacturing and service users, underscoring the building's appeal across several industrial demand drivers in the submarket.
According to JLL, properties of this scale and configuration in established infill locations around Boston continue to draw meaningful buyer attention. Limited availability of developable land in these corridors is constraining the pipeline for new industrial product, which is helping support investor focus on existing shallow bay assets such as 215 Salem St.
The 215 Salem St. acquisition adds to Kadima Industrial Partners' portfolio of industrial holdings while reinforcing lender participation in stabilized infill industrial deals. Webster 5 Cent Savings Bank's role in providing the acquisition financing, arranged by JLL's Debt Advisory team, underscores the continued involvement of regional banks in funding industrial transactions in the Greater Boston market.
