National Development Delivers Boston-Area Facility
National Development has completed 586 Manley St., a 210,600-square-foot Class A logistics facility in West Bridgewater, Mass., within Boston’s Plymouth County submarket. The general contractor in charge was Cranshaw Construction, while JLL is the exclusive leasing broker of the property.
The development was financed by a $28 million construction loan originated by Cambridge Savings Bank, according to CommercialEdge. The facility can accommodate multiple uses, including warehousing, logistics and last-mile distribution.
The industrial building features 36-foot clear heights, a 10,000-square-foot office component, two drive-in doors, ESFR sprinklers, LED lighting, 37 loading docks, 168 vehicle parking spots and 45 trailer parking spots. -Additionally, the property includes expansion options for vehicle parking and an approximately 1-acre outdoor storage area.
The nearly 21-acre facility provides easy access to Massachusetts Route 24 and to interstates 495, 95 and 93. Downtown Boston is 25 miles away, while Boston Logan International Airport is 27 miles from the property.
JLL Senior Managing Directors Michael Ciummei, Joe Fabiano, Rachel Marks, together with Senior Vice President Chelsea Andre and Associate Dane Caracin are the leasing agents for 586 Manley St.
Slow industrial activity
Development activity in the industrial sector has slowed across the country, also impacting the Northeastern markets, where the under-construction pipeline in key markets experienced significant decreases, a recent CommercialEdge report shows. Year-to-date through September, Boston had 1.9 million square feet of space underway, down from the 2.3 million square feet space recorded last year.
Ongoing industrial projects in the metro include Tishman Speyer and Mitsui Fudosan America’s upcoming redevelopment of a 515,000-square-foot office and manufacturing facility into a four-building industrial campus in Peabody, Mass. In early 2024, another joint venture secured $57 million in financing for the development of a 237,800-square-foot facility in Wilmington, Mass.
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