BOSTON— Kadima Industrial Partners has expanded its Greater Boston industrial portfolio with the acquisition of 215 Salem Street, a 62,155-square-foot shallow bay industrial facility in Woburn, according to an announcement from JLL Capital Markets.
JLL represented the seller in the transaction and also arranged acquisition financing on behalf of Kadima through Webster 5 Cent Savings Bank.
Located approximately 11 miles north of downtown Boston, the property occupies a strategic position within Greater Boston’s Route 128 North industrial submarket. The facility offers direct access to Interstates 93 and 95, as well as Route 3, providing connectivity to key logistics corridors, employment centers, and consumer markets throughout the region.
Built in 1984, the five-acre property is designed to accommodate a variety of industrial users. The building features 16 loading docks, 17-foot clear ceiling heights, fully air-conditioned space, a 90-foot truck court, 125-foot building depth, and ample on-site parking.
The multi-tenant facility currently serves eight tenants across industries including distribution, manufacturing, and construction. With an average first-floor suite size of approximately 6,500 square feet, the property is well-suited for last-mile distribution operations, light manufacturing companies, and flex industrial users seeking locations near Boston’s labor force and customer base.
The transaction reflects continued investor demand for small-bay industrial properties in supply-constrained markets, where limited development opportunities and strong tenant demand have supported asset values.
“The combination of last-mile access to Boston, multiple highway connections and a diverse tenant roster spanning logistics, manufacturing and service sectors made this an exceptionally compelling acquisition for Kadima,” said Tommy Hovey, Director at JLL Capital Markets. “Properties of this size and configuration in established infill locations continue to attract substantial buyer interest as land constraints limit new development.”
Kadima Industrial Partners said the acquisition aligns with its strategy of targeting well-located industrial assets in markets where supply remains limited and tenant demand remains strong.
“A key component of Kadima’s investment strategy is acquiring well-located small-bay industrial assets in supply-constrained markets with strong tenant demand,” said Aaron Malitzky, President of Kadima Industrial Partners. “We continue to see tremendous value in the small-bay segment, which serves as critical infrastructure for local and regional businesses yet remains significantly underserved by new development.”
Malitzky added that properties such as 215 Salem Street benefit from diversified tenant rosters, smaller suite sizes that appeal to a wide range of occupiers, and strong demand from businesses seeking proximity to labor pools, customers, and transportation infrastructure.
The JLL Capital Markets Investment Sales and Advisory team representing the transaction included Director Tommy Hovey, Senior Director David Coffman, and Managing Director Michael Restivo. Financing was arranged by Director Ryan Parker of JLL’s Debt Advisory team.
The acquisition underscores the continued strength of Greater Boston’s infill industrial market, where limited land availability and growing demand for flexible industrial space continue to drive investment activity.
