News: Construction Design & Engineering

Hines breaks ground at 146,409 s/f Chelsea Point
class A industrial site project - 250 Marginal St.

Chelsea, MA Hines, the global real estate investment, development and property manager, has been selected to advance construction of Chelsea Point, a strategic build-to-core industrial development site at 250 Marginal St. The development site was acquired by Hines U.S. Property Partners (HUSPP or the Fund), the firm’s flagship commingled U.S. core plus fund last year, and the financing for this project is through a construction loan from J.P. Morgan

Located in a key last-mile market for distribution and freight shipping, Chelsea Point, a 146,409 s/f facility, will be a class A industrial development with 36-foot clear height and flexible design to accommodate single or multi-tenant uses. The 8.6-acre in-fill site is two miles from Boston Logan International Airport and three miles from downtown Boston. Construction on Chelsea Point is expected to be completed in the first quarter of 2024.

“Chelsea Point serves as Hines’ first industrial development in Boston and serves a need in the market for next-generation industrial facilities,” said Michael Francis, managing director at Hines Boston. “There is a significant supply and demand imbalance for infill logistics product.”

“Chelsea Point offers an opportunity for both distribution and airport tenants who require a modern industrial facility,” said Adriana de Alcantara, HUSPP fund manager at Hines. “It provides users with innovative supply chain solutions in a strategic location in a thriving gateway city.”

Hines has appointed JLL to be the listing agent for the property. JLL’s industrial team in New England leading listing efforts of the project is comprised of managing directors Rachel Marks, Michael Ciummei, and Joe Fabiano.

“In recent years, gateway cities have seen a boom in development with more tenants recognizing the endless opportunities that exist beyond Boston’s core for much-needed last-mile facilities,” said Marks. “And Chelsea Point is a testament to that – a leading example of a class A industrial project in a key last-mile market that is poised to be a game-changer for distribution and freight shipping, all while boosting Chelsea’s economic competitiveness. The design, coupled with its proximity to Logan International Airport and downtown Boston, makes it an ideal location for businesses seeking state-of-the-art facilities. This development represents a positive trend we’re seeing in the industrial real estate market, and we are excited to be a part of it.”

A ground-breaking event was hosted by Hines and JLL along with the project team, elected officials, commercial real estate leaders and others.

HUSPP is an open-ended, diversified fund targeting next-generation assets in top-performing submarkets throughout the United States. 

The fund’s strategy is to “buy, build, and manage to core” through research-driven portfolio construction, smarter submarket and sector selection, vertically integrated value creation, and product designed for future demand. HUSPP expects to continue to invest across the living, industrial, office and mixed-use sectors, as well as select alternative sectors, such as life sciences, self-storage, and others, to construct a diversified portfolio that targets a balance of yield and growth.

MORE FROM Construction Design & Engineering

Nobis Group awards Robinson and Moreira STEM scholarships

Concord, NH Nobis Group, a 100% employee-owned consulting firm specializing in engineering and environmental solutions across the Northeast, has named the recipients of its 2025 STEM Scholarship: Andie Moreira of
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Quick Hits
Columns and Thought Leadership
Ask the Electrician: Is summer a prime time for commercial electrical maintenance?

Ask the Electrician: Is summer a prime time for commercial electrical maintenance?

The answer is “Yes!” While January marks the official new year, many businesses view September as a fresh start. This makes summer an ideal time for commercial property owners to schedule long-term electrical maintenance projects.
The rise of incubators and co-working spaces: The latest in life sciences - by Matt Combs

The rise of incubators and co-working spaces: The latest in life sciences - by Matt Combs

In recent years, the life science industry has witnessed a shift in how companies operate and innovate. One of the key driving forces behind this transformation is the emergence of incubators and co-working spaces specifically tailored to meet the unique budget and schedule needs of startups.
The design-build advantage: Integrated interior design solutions - by Parker Snyder

The design-build advantage: Integrated interior design solutions - by Parker Snyder

When it comes to corporate interior spaces for both commercial and industrial projects, partnering with a design-build firm with in-house interior design services can offer clients many benefits. Unlike traditional delivery methods where interior designers operate independently from the design and construction teams, often creating a longer project timeline as cost negotiations and revisions ensue
Careers in Construction Month focus on training and safety - by Joe Camilo

Careers in Construction Month focus on training and safety - by Joe Camilo

October is Careers in Construction Month, and rarely has it been more consequential. According to our chapter’s national parent organization, the construction industry needs to attract half-a-million new workers in the coming year to meet demand. Addressing that need is a huge job, but we at ABC MA are trying to do our part.