September 4, 2019
Cushman & Wakefield secured the construction financing and joint venture equity for DeBartolo Development’s 350,000-square-foot speculative distribution facility at 725 Elm St. in Bridgewater. PNC provided the construction financing on the project, while Cabot, Cabot & Forbes will partner with DeBartolo on the equity side. The dollar amount of the financing and JV equity was not disclosed.
Located at the interchange of Interstate 495 and Route 24, the facility will feature 32-foot clear ceiling heights and 65 dock doors. Construction on the project, DeBartolo’s first development in Massachusetts, will start immediately. Delivery of the building is slated for the second quarter of 2020.
Tom Sullivan of Cushman & Wakefield’s Boston office and John Alascio of the firm’s New York office secured the financing and JV equity on behalf of DeBartolo.
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