March 27, 2024 | By Greg Ryan, Boston Business Journal
Zoll Medical Corp. has leased a large new industrial building developed by The Davis Cos. in Wilmington.
The Chelmsford-based medical device company is taking more than 111,000 square feet at 38 Upton Drive, in a development just off I-93 known as Upton Crossing.
Zoll plans to consolidate operations currently run out of multiple warehouses into the new facility, according to a statement from the company. It will use the space to receive and inspect raw materials for manufacturing and to distribute products.
Owned by Asahi Kasei Corp., the company makes critical-care equipment such as defibrillators and ventilators.
“The new facility will help us supply customers with our lifesaving equipment faster and more efficiently, and offer our employees enhanced amenities that create a comfortable and productive work environment,” Zoll said in the statement.
The lease takes one of the two new buildings at the site off the market. Both were completed last year.
The deal comes as an onslaught of new industrial properties hits the market in and just outside of the region. Last year saw nearly 12 million square feet of industrial leasing activity in Greater Boston and Worcester, close to a record, but vacancy rates have increased given all of the new inventory, according to CBRE research. New construction starts have fallen off recently as a result.
Davis was represented in the deal by JLL’s Joe Fabiano, Jamey Lipscomb, Jordan Yarboro and Brian Tisbert of JLL, while Zoll was represented by JLL’s Rachel Marks and Chelsea Andre.
Upton Crossing has five buildings in all, across 37 acres.