Top1031

Amazon Robotic Fulfillment Center - North Andover

Industrial property in North Andover, MA · sponsored by Net Lease Capital Advisors

HistoricalLast Form D filed Jul 3, 2025 (opens in a new tab)

Amazon Robotic Fulfillment Center - North Andover was a DST sponsored by Net Lease Capital Advisors that owned an industrial property in North Andover, MA. Its last Form D was filed Jul 3, 2025.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Jul 3, 2025.

Net Lease Capital Advisors has 8 active offerings on record →

Key facts

Minimum investment
Not in the Form D
From the Form D
Offering size
$591,792,700
Equity offered, per the Form D
Sold
98.7%
Form D, Jul 3, 2025; the % is our arithmetic
Investors reported
270
Form D, Jul 3, 2025
Selling commissions
$4,364,287 · 0.7% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Amazon Robotic Fulfillment Center - North Andover. Top1031 is not a broker-dealer.

What did the Trust own?

Boston.com reported that the robotic fulfillment center opened in January 2024 as Amazon's largest facility in Massachusetts. Amazon unveiled it publicly with a ribbon-cutting on April 8, 2024. 3 Connect CRE reported on June 3, 2024 that construction ran past $600 million, above an initial $400 million estimate. No recorded deed, acquisition date or purchase price for the Trust was established in the records reviewed.

Property address
1600 Osgood Street, North Andover, MA
Property size
~3.5M SF rentable (3.8M SF gross, 5-story, built 2023)

How was it financed, and what did it cost to sell?

The Trust holds the property subject to mortgage debt, so investor equity sits behind a lender's prior claim on the asset. Sponsor marketplace material describes two loans, A and B, both maturing on October 10, 2042. 2 No reviewed source names the lender.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$4,364,287 · 0.7% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$0 · 0.0% of offering
Form D Item 16
Broker-dealers named in the Form D
25 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Oct 22, 2024
Minimum investment
Not in the Form D

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together.

What does the SEC record show?

The Trust's SEC paper trail is a Form D — the notice of a private offering exempt from registration — amended twice as sales progressed. 1 The issuer reported October 22, 2024 as the offering's first-sale date. 1 The exemption used bars general advertising, so the raise relied on pre-existing relationships with accredited investors.

Legal Trust name
BOSTON LOGISTICS PROPERTY DST
SEC CIK
2041937
First Form D
Oct 24, 2024
Latest Form D
Jul 3, 2025
Filings on record
3
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$591,792,700
$584,656,989+$426,365,897
270+210
EDGAR
Form D/A$591,792,700
$158,291,092+$149,738,169
60+59
EDGAR
Form D$591,792,700
$8,552,923
1
EDGAR

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Common questions

What happened to Amazon Robotic Fulfillment Center - North Andover?
Amazon Robotic Fulfillment Center - North Andover is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Jul 3, 2025.
Who is the tenant, and how long is the lease?
Sponsor material identifies Amazon.com, Inc. as the tenant and describes the North Andover facility as 100% leased on a single-tenant triple-net basis, meaning the tenant covers property taxes, insurance and maintenance. Local reporting in July 2026 pictured workers handling items inside the building, evidence the facility was operating, though it did not verify lease terms. The lease commencement date, term length and any renewal or early-termination rights are not established by any public record reviewed as of September 27, 2026. The offering documents and the lease itself govern those terms.
How much leverage does the Trust carry?
Sponsor marketplace material reports a loan-to-value ratio of 84.75% and an equity offering of $90,248,387 within a total offering amount of $591,792,700. That is a debt-heavy capitalization: most of the property's cost is borrowed, which gives the lender a prior claim on the asset and which some 1031 exchangers use to replace mortgage debt from a property they sold. The same material describes two loans, A and B, both maturing October 10, 2042. The loan documents are not public and no reviewed source names the lender.
What was the minimum investment?
Sponsor disclosures reported a $150,000 minimum investment. The SEC Form D filings on record report no minimum-investment amount. Because sponsor material describes the Offering as closed to new investors, that figure reflects a historical term of the raise rather than a currently available one.
Is there a 721/UPREIT exit?
The record shows no REIT conversion path for this Trust. A 721/UPREIT exit is a structure in which a DST's property is contributed to a real estate investment trust's operating partnership in exchange for partnership units, deferring tax at that step. Here the data reports no such conversion, so a sale or refinancing of the single property is the path indicated by the filings.
Do the SEC filings name the property?
No. The Form D and its amendments identify the issuer as a Delaware statutory trust, give its filing address and related persons, and report the offering amounts, but they do not name the North Andover building, the lease terms or the Amazon signing entity.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.