Boston, MA (November 15, 2019) – Lincoln Property Company (“LPC”), in partnership with Barings on behalf of institutional investors, announced today that they will break ground this month on a 345,000 square-foot state-of-the-art distribution facility in Bellingham, Massachusetts. The Class A high-bay warehouse, named Lincoln Logistics 36 (the “Property”), will be located on a 68-acre site at 160 Mechanic Street, just one mile from Interstate 495.
The Property will be prominently situated along Greater Boston’s premier industrial corridor and less than an hour drive from Boston, Providence and Worcester. which is ideally located for a variety of e-commerce, distribution and logistics users.
In addition to 36 foot clear heights, the facility will feature 70 dock doors with vision panels, mechanical levelers, dock seals and dock lights, 50 trailer parking spaces, 60 foot speed bays, 130 foot truck court and 227 car parking spaces. Energy efficient systems include LED sensor lighting, ESFR sprinklers and 12 clearstory windows above truck doors in lieu of skylights. The project is expected to be delivered by Fall 2020.
“Greater Boston’s warehouse market has shown tremendous growth during the past 24-36 months, vacancy is near record lows and rents are exceeding previous high watermarks. Lincoln Logistics 36 gives tenants the height to maximize racking and best-in-class construction for peak operational efficiency,” said Ellison Patten, Senior Vice President at LPC.
“This is a great opportunity to bolster our logistics footprint in a well-established, growing market. Lincoln Logistics 36 will benefit greatly from its premier location, with excellent connectivity for logistics users in the greater Massachusetts area,” said John Ockerbloom, Barings’ Head of U.S. Real Estate Equity.
ARCO Design/Build is the contractor for the $30 million speculative development. Lincoln’s, Ellison Patten and James Tambone will serve as the exclusive leasing team for the Property.
For more information on the project, visit LincolnLogistics36.com.
Barings is a $335+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, Barings provides innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.
*As of September 30, 2019
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