23 Sycamore

Transwestern Consulting Group (TCG) arranged two loans for NorthBridge Partners totaling $22 million to finance the acquisition and future leasing costs of 100 Adams Road in Clinton and 23 Sycamore Ave. in Medford.

TCG Partner Chris Skeffington and Vice President Andrew Stone arranged the loans.

“The Greater Boston industrial market continues to draw significant investor interest, driven by e-commerce and ‘last-mile’ logistics trends, as well as the strong regional economy,” Stone said in a statement. “NorthBridge recognizes this market dynamic and capitalized on the opportunity with the acquisition of two institutional-quality assets.”

The financing for 100 Adams Road consisted of a long-term, non-recourse loan of $13.9 million through Middlesex Savings Bank. The building is fully occupied by five tenants and consists of 345,000 square feet of class A, high-bay warehouse space. Completed in 2000 and situated on 20 acres, it features modern construction, 30-foot clear height, 53 loading docks and one drive-in door. The I-495 West submarket consists of 1.8 million square feet of high-bay warehouse space with 9.1 percent vacancy at the close of third quarter 2017, according to Transwestern research.

TCG also arranged a long-term, non-recourse loan of $8.9 million for 23 Sycamore Ave. through HarborOne Bank. The property is a class A, high-bay urban warehouse totaling 91,000 square feet, located less than 4 miles from downtown Boston. The inner urban submarket consists of 625,000 square feet of warehouse space with no vacancy at the close of 3Q 2017, according to Transwestern research.