In March 2022, Hines U.S. Property Partners, the firm’s flagship commingled U.S. core plus fund, acquired Chelsea Point, a strategic build-to-core industrial development site in Chelsea, Massachusetts.
Located in a key last-mile market for e-commerce and freight shipping, Chelsea Point, a fully entitled and designed 146,000-square-foot facility, will be a Class A industrial development - Hines' first in Boston - with a 36-foot clear height and flexible design to accommodate single or multi-tenant uses. The 8.6-acre in-fill site is two miles from Logan International Airport and three miles from downtown Boston.
Construction on Chelsea Point is expected to begin this summer with the project being completed in the latter half of 2023.
