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New Wilmington Development Gets $39.1M in Financing

Image courtesy of JLL

A 214,440-square-foot Wilmington industrial development that broke ground in late winter received $39.1 million in construction financing.

Two new buildings totaling 214,000 square feet at 38 Upton Drive are part of a five-building, 27-acre industrial campus owned by The Davis Companies of Boston.

Middlesex Savings Bank provided the construction loan for the new buildings, which are scheduled to be ready for tenant fit-outs in late 2022 and include 32-foot clear heights and permitted mezzanine space. JLL is the leasing agent.

Davis Companies bought the property from PGA Realty Co. of North Andover in April 2021 for $44.25 million.

B&T Daily