Cushman & Wakefield has 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 is planned to deliver a combined 222,050 square feet of Class A industrial space designed to serve a range of users.
The Cushman & Wakefield Equity, Debt & Structured Finance team represented the borrower, NorthBridge Partners, in securing the loan. The team included Rob Borden, Heather Brown, Nolan Alexander and Rehan Munsiff, with Blake Baldwin contributing leasing expertise in support of the assignment. Principal Asset Management provided the construction financing, with Jared Zatloukal and Katherine Boffeli leading the effort on behalf of the lender.
Construction on the Billerica industrial park began this past spring. According to the parties involved, the development is expected to be delivered in the first half of 2027, bringing new Class A industrial capacity to the local market once construction is completed.
Commenting on the financing, Borden noted that the transaction attracted strong interest from a range of capital sources. He attributed that attention to the profile of the planned development and to NorthBridge Partners’ established platform. Borden added that the deal matched what many lenders are focused on in the current environment, emphasizing top tier sponsorship, modern and well-located industrial product, and a clearly defined path to lease-up.
Separately, Connect Industrial West is scheduled for August 20 in Irvine, CA. The event is expected to bring together owners, investors, developers, brokers, lenders and occupiers active in industrial real estate across the Western U.S., with programming centered on market insights, dealmaking and networking opportunities.
