Carlisle Obtains $92M for Boston-Area Industrial Park

June 20, 2025

Finance Boston Industrial News More Northeast

The property underwent a comprehensive repositioning effort.

Carlisle Capital Corp. has secured a $92 million loan for Fordham Park Robotic and Logistics Campus, a 393,911-square-foot, three-building property in Wilmington, Mass. M&T Bank issued the five-year note in a deal arranged by JLL.

A 10-year, $75 million loan previously encumbered the industrial park, according to CommercialEdge information. Bank of America originated it last year.

The campus debuted in 1969 as a build-to-suit for Volkswagen. In 2018, Carlisle purchased the asset—back then dubbed Fordham Business Center—for $27.2 million. Following the acquisition, the company began a repositioning effort, transforming the property through the addition of extra parking spaces and building improvements such as roof raising.

Fordham Park is now fully leased to companies operating in industries like e-commerce, warehouse automation and robotics, as well as semiconductors. The roster includes Amazon, Locus Robotics and Red Thread Spaces, among others.

Located on more than 40 acres at 100-110 Fordham Road, the campus is roughly 16 miles northwest of downtown Boston. Interstate 93 runs less than 1 mile from the property, while Boston Logan International Airport operates some 19 miles away.

JLL Senior Managing Director Tom Sullivan led the team that arranged the financing on behalf of Carlisle.

Metro Boston’s industrial sector

Greater Boston’s industrial vacancy rate settled at 10.3 percent in April, unchanged over the month, according to a CommercialEdge report. Among gateway markets, the metro fared better than Miami (11.6 percent) and Chicago (10.9 percent) while lagging Los Angeles (8.7 percent) and Houston (6.6 percent).

Meanwhile, asking rents rose to $11.23, up 6.9 percent over the year, the report also shows. The value was significantly higher than the national average of $8.49, which also improved by 6.7 percent on a year-over-year basis.

Boston’s industrial investment volume totaled $262 million in the first four months of the year. Assets changed hands for $158 per square foot, above the $129 per square foot recorded on average across the U.S.

In one of the deals that closed early this year, Ares Management Real Estate paid some $44 million for a distribution center in Taunton, Mass., about 38 miles south of Boston. JLL was involved in that transaction as well, representing the seller.