The owners of the largest block of available industrial space in Massachusetts have refinanced their debt with a new $115 million bridge loan to pay for future capital projects and tenant improvements.

Framingham-based Atlantic Management and VMD Cos. of North Andover acquired the 50-acre New England Confectionary Co. (NECCO) property at 135 American Legion Highway in Revere last year for $54.6 million. The company’s new owner, Round Hill Investments, shut down the factory last July.

The new financing replaces the original $69.6 million mortgage, according to Colliers International Boston, which represented the owners in both transactions. Loancore Capital Credit REIT was the lender for both mortgages.

The building includes single-story, high-bay warehouse space and 2-story manufacturing and distribution space.

Newmark Knight Frank is the leasing agent and has been marketing the space to food service vendors, e-commerce companies and other potential tenants. Revere city councilors rezoned the property last year to allow additional uses including life science manufacturing, R&D and alcoholic beverages production, retail sales and service, warehouse and distribution.