A partnership between Wheelock Street Capital and Camber Development has obtained a $62.5 million loan for an advanced manufacturing campus in Bedford, MA. JLL Capital Markets arranged the financing on behalf of the borrowing partnership, sourcing the debt from Blue Light Capital.
The campus is located at 44 Middlesex Turnpike on a 23.4-acre site. It includes a 148,458-square-foot advanced manufacturing building and an adjacent 12.3-acre development site that is fully entitled for an additional 147,000 square feet of space. When the second phase is built, the campus is expected to comprise a total of 295,000 square feet designed for advanced manufacturing users.
The first phase delivered at the end of 2024. That initial 148,458-square-foot facility is currently 32% leased to Fourth Power, an energy storage company. The balance of the delivered space, along with the entitled development land, provides room for additional tenants focused on advanced manufacturing activity.
JLL Capital Markets led the financing assignment for the borrower, with senior managing directors Brett Paulsrud and Steve Klein heading the team. They were joined by director Ryan Parker, vice president Hugh Doherty and analyst Libby Horton. The JLL team worked to structure and place the loan with Blue Light Capital for the campus.
In commentary about the transaction, Paulsrud noted that the property is positioned to serve growing space requirements from users in robotics, energy storage, semiconductors and climate technology. He highlighted the Bedford location as offering convenient access both to engineering talent based in the Boston suburbs and to the manufacturing labor pool across the broader North Market area.
The new financing supports the ongoing evolution of the Bedford campus as it moves from initial lease-up of the first building toward the planned second phase of development, with the overall project focused on highly specialized advanced manufacturing demand.
