Development capitalization secured for Mass. State Police crime lab development

Marlborough, MA JLL Capital Markets has arranged Credit Tenant Lease (CTL) financing for the development of a 200,00 s/f, purpose-built laboratory and training facility for the Massachusetts State Police.

JLL worked on behalf of the borrower, Greatland Realty Partners and their investment partners, to place the CTL loan directly into the private placement bond market through the co-book running efforts of JLL Securities, LLC and Mesirow Financial.

Construction of the Crime Laboratory is scheduled to begin imminently, with the opening planned for the first quarter of 2028. The new four-story facility will consolidate the current Maynard and Sudbury crime labs into a single location. The LEED Silver lab will accommodate more than 250 employees and is fully leased to the Commonwealth of Massachusetts through a 20-year, NNN lease. Due to its location within the Campus at Marlborough, employees will have access to amenities, including the Craft Food Hall, a 12,000 s/f fitness center, a 250-person conference facility and various outdoor recreation areas.

The project is located about 30 miles west of Boston at 100 Martinangelo Dr., proximate to major highways, including I-90, I-290 and I-495. The 24-acre site was selected for its capacity to support new jobs and additional economic development the facility will bring to both the city and surrounding areas.

JLL’s Capital Markets team representing the borrower was led by senior managing director Brett Paulsrud, managing director Andrew Gray and managing director Michael George.

“Despite a challenging market environment for development capital, this accretive capitalization structure demonstrates the depth of demand for high-quality projects backed by a strong sponsorship team,” Gray said. “JLL is pleased with the outcome and looks forward to Greatland delivering a state-of-the-art facility that will serve the Commonwealth's public safety mission for decades to come.”