Amazon Robotic Fulfillment Center - North Andover
Industrial (single-tenant NNN logistics) property in North Andover, MA — sponsored by Net Lease Capital Advisors
Files with the SEC as BOSTON LOGISTICS PROPERTY DST
Minimum investment
Not stated
Offering size
$591.8M
How much has sold
99.0%
Asset type
Industrial (single-tenant NNN logistics) property
Location
North Andover, MA
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Boston Logistics Property DST is a Delaware statutory trust — a structure that lets 1031 exchange buyers hold fractional interests in a single property — sponsored by Net Lease Capital Advisors.1 It holds an Amazon robotic fulfillment center in North Andover, Massachusetts, described in sponsor material as 100% leased to Amazon.com, Inc. on a triple-net lease.1 That same material lists the Offering as closed to new investors.1
Sponsor Net Lease Capital; 100% Amazon.com NNN; LTV 84.75%; min $150k; $90.2M equity of $591.8M; closed
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These links support the public record as a whole; individual details may come from different sources.
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What exactly is the property?
Amazon opened the building in January 2024, its largest facility in Massachusetts.2 Connect CRE reported on June 3, 2024 that construction cost ran past $600 million, more than $200 million above the initial $400 million estimate. Sponsor material describes a newly constructed single-tenant logistics building that Amazon operates as a robotic fulfillment center.1 No public record reviewed establishes when the Trust acquired it.
- Property address
- 1600 Osgood St, North Andover, MA
- Property size
- ~3.5M SF rentable (3.8M SF gross, 5-story, built 2023)
Who is the tenant, and what's the lease?
Sponsor material identifies Amazon.com, Inc. as the sole tenant and describes the building as 100% leased on a triple-net basis, meaning the tenant rather than the Trust pays property taxes, insurance and maintenance.1 No public record reviewed settles the lease term, commencement date, or renewal and early-termination rights.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
99.0% reported sold
- Amount sold
- $584,656,989
- Still available
- $7,135,711
- Investors reported
- 270
- Total offering
- $591,792,700
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How is it financed, and what does it pay?
The Trust owns the building subject to mortgage debt, so investor equity sits behind a lender's prior claim. Sponsor material describes two loan tranches maturing October 10, 2042 with balloon payments due then — the balance does not fully amortize and must be repaid or refinanced.1 No reviewed record names the lender.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Net Lease Capital Advisors sponsors this Trust, and its Form D identifies the issuer as a Delaware statutory trust organized in Delaware.3 The firm runs a 1031 platform spanning multiple DST offerings, counted in the rows below. Because a single tenant holds the entire building on a triple-net lease, day-to-day property operations sit with Amazon rather than with the sponsor.1 No sponsor-level development bearing on this Trust surfaced in sources reviewed through August 2026.
- Sponsor
- Net Lease Capital Advisors
- Legal Trust name
- BOSTON LOGISTICS PROPERTY DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 22 total offerings from Net Lease Capital Advisors
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The issuer filed a Form D — the SEC's brief notice of an exempt private offering — then amended it twice, each amendment raising the reported amount sold and the investor count while leaving the total offering amount unchanged. Rule 506(b) bars general advertising, so the Offering relied on pre-existing relationships with accredited investors meeting SEC income or net-worth tests.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 3
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
Is Amazon Robotic Fulfillment Center - North Andover still raising money?
Top1031 lists Amazon Robotic Fulfillment Center - North Andover as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Amazon Robotic Fulfillment Center - North Andover?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this Trust?
Sponsor marketplace material published by Real Estate Transition Solutions labels this offering closed. The most recent SEC filing on record, a Form D amendment dated July 3, 2025, still reported an unsold balance against the $591,792,700 total offering amount, so the closed label is sponsor-reported and not confirmed by any later filing. Those two statements are differently dated and have not been reconciled in public records; current availability would have to be confirmed with the sponsor or a selling broker-dealer.
Who is the tenant, and how long is the lease?
Sponsor material identifies Amazon.com, Inc. as the tenant and describes the facility as 100% leased on a single-tenant triple-net basis, under which the tenant covers property taxes, insurance and maintenance. The lease commencement date, term length and any renewal or early-termination rights are not settled by any public record reviewed — the Private Placement Memorandum, the offering's controlling disclosure document, and the lease itself govern.
How much leverage does the Trust carry?
Real Estate Transition Solutions, publishing sponsor offering data, reports a loan-to-value of 84.75% and equity 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 some 1031 exchangers use to replace mortgage debt from a property they sold, and which also gives the lender a prior claim on the asset. The same sponsor data describes two loan tranches maturing October 10, 2042 with balloon payments due at maturity. The loan documents are not public and no reviewed record names the lender.
What was the minimum investment?
Sponsor disclosures state a minimum investment of $150,000. The SEC Form D filings on record report no minimum-investment amount. Because the Offering is described as closed to new investors, that figure is a historical term rather than a current 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, report the offering amounts and give a first-sale date of October 22, 2024, but they do not name the North Andover building, the lease terms or the Amazon signing entity. The property mapping comes from Top1031's enrichment data and is corroborated by a sponsor marketplace listing describing the Trust as one single-tenant triple-net industrial property in North Andover, Massachusetts, leased to Amazon.com, Inc. Separately, The Eagle-Tribune reported in July 2026 that Amazon was testing a new package-scanning machine at the North Andover facility during Prime Week — operational news about the tenant's use of the building, not about the Trust's finances.
Chapter 9Amazon tests new scanning machine in North Andover during Prime WeekLocal newspaper coverage of Amazon's North Andover, MA robotic fulfillment facility, featuring GM Gareth Watkins discussing AI-enabled robots and a new package-scanning machine piloted during Prime Week at the property that underlies the Boston Logistics Property DST. Amazon debuts $400 million robotic warehouse in North Andover, biggest in the stateReal-estate industry coverage of Amazon's opening of its largest Massachusetts facility — the 3.6M-sq-ft five-story robotic warehouse in North Andover that backs the Boston Logistics Property DST. Amazon Opens Massive Robotics Warehouse In North AndoverLocal news reporting Amazon's opening of the 3.6M-sq-ft five-story robotic fulfillment warehouse at 1600 Osgood Street, North Andover — the underlying property of the Boston Logistics Property DST. Amazon debuts $400 million robotic warehouse in North Andover, biggest in the stateTown-level news coverage of Amazon's $400M, 3.6M-sq-ft robotic fulfillment center opening in North Andover, the underlying single-tenant NNN property of the Boston Logistics Property DST.