Colliers Arranges $9.6M Acquisition Loan for Industrial Facility in Suburban Boston
NORTH ANDOVER, MASS. — Colliers International’s Boston-based Capital Markets group has arranged a $9.6 million acquisition loan for a 169,000-square-foot, single-story industrial asset in North Andover. Located at 25 Commerce Way, the property is situated on more than 18 acres of land. At the time of sale the facility was 99 percent leased to seven tenants. The property was completely renovated in 2001 and is less than 30 miles from Boston. Adam Coppola, Thomas Welch, John Poole and Tonia Jenkins of Colliers represented the borrower, Berkeley Partners, in arranging the financing through lender AEGON USA Realty Advisors. Terms of the financing were not disclosed.