Image courtesy of Lincoln Property Co.

Construction is under way for a 176,800-square-foot warehouse near Wrentham Village Premium Outlets, in a partnership between Lincoln Property Co. and private equity firm Stockbridge.

The development team purchased the fully permitted 34-acre site at 404 Green St. in September for $12.4 million, according to a Norfolk County deed. Berkshire Bank issued a $25.6 million construction loan for the project on Sept. 27.

The project is the fifth joint venture and first speculative ground-up development for the LPC-Stockbridge partnership in the Greater Boston market.

In addition to 32-foot clear heights, 404 Green will include 35 dock doors with vision panels, 33 trailer parking spaces, 60-foot speed bays, 130-foot truck court and 113 car parking spaces.

ARCO National Construction Company is the contractor for the project.

LPC’s Ellison Patten and James Tambone are the leasing agents.