Financing arranged for 198,336 SF property in Hopkinton fully leased to Revvity, a leading life sciences company
News release
29 April 2025
JLL secures financing for advanced manufacturing facility in Greater Boston
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BOSTON, Apr. 29, 2025 – JLL Capital Markets announced today that it has arranged financing for 68-78 Elm Street, a 198,336-square-foot advanced manufacturing and research facility in Hopkinton, Massachusetts.
JLL worked on behalf of the borrower, Northbridge Partners, to secure a senior loan through a commercial bank.
Located just 30 miles west of downtown Boston, the two-building property is 100% leased to Revvity, a leading life sciences and diagnostics company, on a long-term lease.
Situated on 19 acres, the property offers excellent highway accessibility via its location adjacent to I-495 and proximity to I-90. The surrounding area is home to over 100 life science and technology companies, providing Revvity with access to a deep talent pool and many of its key customers.
The JLL Debt Advisory team was led by Managing Director Andrew Gray, Director Ryan Parker and Associate Brooke Howard.
"This financing speaks to the continued strength of the advanced manufacturing sector in Greater Boston, particularly for mission-critical facilities," said Gray. "The property's long-term tenancy with an investment grade company, coupled with its strategic location along the I-90 'Innovation Corridor', made this an extremely attractive financing opportunity."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About NorthBridge Partners
NorthBridge Partners, LLC, founded in 2014, is a vertically integrated real estate investment manager specializing in last-mile logistics properties, acquiring, repositioning, and developing strategically located industrial real estate assets in major markets. NorthBridge has completed over 100 transactions totaling over 15 million square feet throughout its history. For more information, please visit www.northbridgecre.com.