Kadima Industrial Ptrs. acquires shallow bay industrial facility

Woburn, MA JLL Capital Markets completed the sale and financing of 215 Salem St., a 62,155 s/f shallow bay industrial facility. JLL represented the seller in the sale to Kadima Industrial Partners. Working on behalf of the new owner, JLL also arranged the acquisition financing with Webster 5 Cent Savings Bank.

Built in 1984, the property is located in Greater Boston’s Rte. 128 North submarket, 11 miles north of downtown Boston. The facility benefits from direct access to interstates 93 and 95 and Rte. 3, providing connectivity to the region’s primary logistics networks and employment centers.

The property features 16 loading docks, 17-foot clear height, fully air-conditioned space, a 90-foot truck court, 125-foot building depth and ample parking across a five-acre site. The property serves eight tenants across multiple industries, including distribution, manufacturing and construction, with an average first-floor suite size of approximately 6,500 s/f. The facility’s functional layout and specifications position it to serve the diverse needs of last-mile distribution, light manufacturing and flex users seeking proximity to Boston’s dense labor pool and consumer base.

The JLL Capital Markets Investment Sales and Advisory team was led by director Tommy Hovey, senior director David Coffman and managing director Michael Restivo. Director Ryan Parker on JLL’s Debt Advisory team arranged the financing.

“The combination of last-mile access to Boston, multiple highway connections and a diverse tenant roster spanning logistics, manufacturing and service sectors made this an exceptionally compelling acquisition for Kadima,” Hovey said. “Properties of this size and configuration in established infill locations continue to attract substantial buyer interest as land constraints limit new development.”

“A key component of Kadima’s investment strategy is acquiring well-located small-bay industrial assets in supply-constrained markets with strong tenant demand,” said Aaron Malitzky, president of Kadima. “We continue to see tremendous value in the small-bay segment, which serves as critical infrastructure for local and regional businesses yet remains significantly underserved by new development. Assets like 215 Salem St. benefit from a diverse tenant base, smaller suite sizes that appeal to a broad range of users, and strong demand from companies seeking proximity to labor, customers and transportation networks.”