BOSTON– JLL announced today that it has arranged a $12.6 million refinancing for 554 Clark Road, a 102,200-square-foot flex/R&D building in the suburban Boston community of Tewksbury, Massachusetts.
JLL worked on behalf of the borrower, Boston-based real estate investment management firm Oliver Street Capital, to secure the fixed-rate loan with UniBank.
554 Clark Road is positioned on a 10.54-acre site just off of Interstate 495 in Tewksbury, a northern suburb of Boston. The single-story facility was recently leased to Mycronic, a Swedish high-tech electronics assembly, display and packaging developer and manufacturer.
JLL’s Capital Markets team representing the borrower was led by Senior Director Brett Paulsrud and Associate Amy Lousararian.
“Having purchased the asset last year, it has been exciting watching the team at Oliver Street fully lease the building in such a short amount of time,” Paulsrud said. “They have executed flawlessly on their business plan and I am happy to have been a part of it.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.