Lexvest Chapel LLC’s original loan has been supplemented by $1.45 million in additional funding from MassDevelopment. This will help complete the redevelopment of 190,000-square-foot business center, Pepperell Place. This will create 50 jobs and support 10 construction jobs, Lexvest said in a statement.

MassDevelopment provided the company with a $2.25 million loan to begin building renovations in 2016; the current transaction increases the loan amount to $3.7 million.

Lexvest has leased over 50 percent of the building space to manufacturing, distribution, online-fulfillment and service-based companies. The newest tenant, 1A Auto, an online retailer of auto parts, will lease more than 17,000 square feet of the building.

MassDev Fund of $1.45M Grows Pepperell Place Project

by Banker & Tradesman time to read: <1 min
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