JLL arranges sale of 237,880 s/f logistics facility in Wilmington, MA

Wilmington, MA JLL Capital Markets has completed the sale of 800 Salem St., a newly-constructed, fully leased Class A industrial logistics facility totaling 237,880 s/f.

JLL represented the seller, a partnership between Camber Development and Wheelock St. Capital, in the transaction. JLL also arranged the acquisition financing on behalf of the new owner, securing a fixed-rate, 10-year loan.

Built in 2025, 800 Salem St. is an all-electric facility that features best-in-class specifications including 36-ft. clear heights, ESFR sprinkler systems, LED lighting throughout and 5,000-amp electrical capacity. The building spans 265 ft. deep by 943 ft. along its south face with 54 ft. by 51 ft. column spacing and 60 ft. speed bays. The facility includes 47 dock-high loading positions, two drive-in doors, 33 trailer parking spaces and a 130-foot truck court. The property offers 332 car parking spaces and includes 8,200 s/f of office space.

The warehouse is fully leased on a long-term basis, to a single tenant operating a specialized same-day delivery fulfillment center. The facility is located off I-93, providing highway access and positioning the property 18 miles from downtown Boston.

The JLL Investment Sales and Advisory team representing the seller included senior managing director Michael Restivo, senior director David Coffman and director Tommy Hovey. JLL’s senior managing directors Tom Sullivan and Matt Stewart secured the acquisition financing.

 “800 Salem is a market leading project that epitomizes what our team sets out to do – identify a well-located site, build a highly functional and sustainable building and lease it to a credit tenant for mission critical operations,” said Tucker Kelton, founding partner at Camber Development. “We are proud of the project, the outcome and the effort put in by the extended team over the past several years and look forward to staying involved with the asset in a different capacity.”

“It was a pleasure to partner with Camber Development and Wheelock St. Capital from start to finish on this project — they delivered a best-in-class product in a market that’s incredibly challenging to build in, which attracted a premier tenant,” said Restivo. “With the construction pipeline at its lowest level since mid-2021 and more than 83 percent of underway space already preleased, this property exemplifies the type of modern, strategically located asset that commands premium pricing in a market where large-block availability — particularly within the I-495 corridor — is becoming increasingly scarce.”