Image courtesy of JLL and The Davis Cos.

The first phase of a speculative industrial development by The Davis Cos. in Wilmington landed a full building lease from a medical device company.

The 111,119-square-foot distribution center at 38 Upton Drive is the first of two new buildings totaling 215,000 square feet at the Upton Crossing project.

The lease by an undisclosed tenant is the largest industrial commitment in the I-93 North corridor in more than a year, The Davis Cos.’ Chief Portfolio Management Officer Cappy Daume said in a statement.

Middlesex Savings Bank provided $39.1 million in financing for the project in 2022, according to a Middlesex County mortgage.

JLL’s Joe Fabiano, Jamey Lipscomb, Jordan Yarboro and Brian Tisbert represented ownership in the lease transaction. JLL’s Rachel Marks and Chelsea Andre represented the tenant.

Located on 37 acres, Upton Crossing includes five manufacturing, distribution and R&D spaces.