BOSTON– JLL Capital Markets announced that it has arranged financing for 68-78 Elm Street, a 198,336-square-foot advanced manufacturing and research facility in Hopkinton, Massachusetts.
JLL worked on behalf of the borrower, Northbridge Partners, to secure a senior loan through a commercial bank.
Located just 30 miles west of downtown Boston, the two-building property is 100% leased to Revvity, a leading life sciences and diagnostics company, on a long-term lease.
Situated on 19 acres, the property offers excellent highway accessibility via its location adjacent to I-495 and proximity to I-90. The surrounding area is home to over 100 life science and technology companies, providing Revvity with access to a deep talent pool and many of its key customers.
The JLL Debt Advisory team was led by Managing Director Andrew Gray, Director Ryan Parker and Associate Brooke Howard.
“This financing speaks to the continued strength of the advanced manufacturing sector in Greater Boston, particularly for mission-critical facilities,” said Gray. “The property’s long-term tenancy with an investment grade company, coupled with its strategic location along the I-90 ‘Innovation Corridor’, made this an extremely attractive financing opportunity.”
