Image courtesy of RODE Architects

For its first industrial project in Greater Boston, Hines is targeting the last-mile distribution market with a 146,409-square-foot facility at 250 Marginal St. in Chelsea.

The Houston-based developer held a groundbreaking ceremony Thursday for Chelsea Point. Located two miles from Logan International Airport, the facility will include 36-foot clear heights and is designed to accommodate a single or multiple tenants, Hines said.

Hines U.S. Property Partners, a U.S. core plus fund, acquired the site in March 2022. J.P. Morgan provided a $57.9 million construction loan in August 2022, according to a Suffolk County mortgage. Completion is scheduled for the first quarter of 2024. 

JLL is the listing agent for the project.

“In recent years, Gateway Cities have seen a boom in development with more tenants recognizing the endless opportunities that exist beyond Boston’s core for much-needed last-mile facilities,” Rachel Marks, Managing Director at JLL, said in a statement.