News: Front Section
Posted: June 28, 2024
King Street Properties closes on construction loan for 75 Jackson Rd. - a 45-acre, 700,000 s/f Pathway Devens campus
Devens, MA King Street Properties (King Street) has completed the closing of a construction loan for 75 Jackson Rd., part of King Street’s 45-acre, 700,000 s/f Pathway Devens campus, a premier location for advanced manufacturing. Once completed, 75 Jackson Rd. will add 210,000 s/f of advanced manufacturing space to the growing campus which currently includes tenants Electric Hydrogen, Azzur Group, and Ascend Elements.
Site prep work is nearing completion and King Street will now commence construction on the 75 Jackson Rd. building with a completion date of Q3 2025. This will be the fourth advanced manufacturing building at Pathway Devens.
“We’re excited to deliver our fourth building at Pathway Devens, working with an incredible team of partners and lenders,” said Tyson Reynoso, King Street managing director & partner. “Devens has become a destination for the true drivers of the economy here in Massachusetts. The confidence in this market, the growth of the advanced manufacturing sector and the demand for GMP space are all reasons we are able to secure a loan for this project.”
Consistent with the rest of the Pathway Devens campus, 75 Jackson is a purpose-built, facility designed for biomanufacturing and advanced manufacturing. The building features a 12,000-amp power service with redundant feeds as well as an interior clear height of 38 feet.
The lenders for the project are First Citizens Bank and Berkshire Bank, and the project team includes BW Kennedy, VIVO Architecture, and Highpoint Engineering.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Quick Hits
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
