Devens biomedical factory extension receives $4.2M loan

A Concord developer has secured $4.2 million in a second round of construction financing to expand a biomedical device factory at Devens.

Boston-based Eastern Bank said the loan was made to 8 Jackson Road LLC, a real estate entity managed by William Jackson.

The property is located in the Innovation and Technology District of Devens, the area created by the Massachusetts Legislature in 1993 at the former Fort Devens, the U.S. Army’s New England headquarters for 79 years.  

The bank provided a construction financing loan and line of credit for the purchase and development of the 43,000-square-foot property in 2000. Construction of an additional 27,000 square feet is the next phase of development and is expected to be completed next summer.