Massachusetts data center receives $10.35 million financing

Madeline Joyce

BOSTON, MA,  July 22, 2020 – JLL Capital Markets announced today that it has arranged $10.35 million in acquisition senior financing for 456 Bedford Street, a 199,902-square-foot flex property and state-of-the-art data center in the southern Massachusetts community of Fall River. 

JLL worked on behalf of the borrower, Boston-based Rhino Capital Advisors LLC, to place the, fixed-rate, non-resource loan with Cambridge Savings Bank.

Brett Paulsrud 

Rhino Capital Advisors LLC acquired the property in a sale-leaseback transaction with the seller and tenant, which signed a new 10-year lease.

The tenant offers information technology services to a list of Fortune 500 companies. 

Divided into two sections, the front section consists of a two-story granite structure with three-foot exterior walls recently built out as a state-of-the-art Tier III/IV, raised-floor data center and office space, while the rear section is a three-story mill that the tenant intends to use for future growth.

Situated on 3.27 acres, the property’s Fall River location provides proximity to both Boston and Providence. 

456 Bedford St. is within the Attleboro/New Bedford submarket, which is one of New England’s premier industrial markets.

The market benefits from a highly accessible location with immediate access to major highways, including Interstate 195 and Routes 24 and 6, providing east-west and north-south mobility.

The Capital Markets debt placement team representing the borrower was led by Senior Director Brett Paulsrud and Associate Madeline Joyce.

456 Bedford Street, a 199,902-square-foot flex property 
and state-of-the-art data center in the southern 
Massachusetts community of Fall River. 

“Given the current state of the market, there is a renewed interest in data centers from investors,” Paulsrud said. “This was a timely acquisition on Rhino’s behalf and a great addition to its portfolio.

"Both Rhino Capital and Cambridge Savings Bank worked patiently and flawlessly through the closing process despite the market challenges created by COVID-19.”

Paulsrud assisted the borrower in March with a refinancing on 271 Ballardvale St., a light manufacturing industrial building in Wilmington, Massachusetts.

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CONTACT:

Kimberly Steele

JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Rhino Capital Advisors LLC 

visit jll.com.