A venture between Wheelock Street Capital and Camber Development announced that it secured $57 million in construction financing for 800 Salem St., a state-of-the-art industrial logistics development totaling 237,800 square feet in Wilmington, Mass. The project is fully entitled with site work complete, vertical construction underway and an anticipated delivery in third quarter 2024.
The property will feature best-in-class specifications, including 47 dock positions, two drive-in doors, parking for 332 vehicles and 33 trailers (including provisions for 32 EV-charging stations), 36-foot clear heights, 54-by-51-foot column spacing, power capacity of 4,000 amps (with expandability), modernized truck circulation and ESFR fire suppression. The building also will be one of the first fully electric warehouses in the state.
JLL represented the borrowers to secure the three-year construction loan from a national bank.
The development is located 17 miles north of Boston,
