News: Front Section
Posted: August 4, 2017
Calare Properties acquires 36,000 s/f building - leases to Premier Health
Littleton, MA Calare Properties has acquired 234 Taylor St. Along with the acquisition of 36,000 s/f warehouse building, Calare has secured a 10-year absolute net lease with Premier Health Group, LLC, guaranteeing a full commitment to the building.
Located off Rte. 495, this property is situated on 6.3 acres with parking. The one-story warehouse features 24-foot ceilings with eight tailboard docks and one drive-in door.
“The strategic investment in 234 Taylor St. provides an ideal opportunity to develop added value in a well-positioned asset,” said Bill Manley, CEO and CIO of Calare. “Through the addition of a reputable tenant that has committed to significant capital improvements, we are confident this property will continue to flourish in the long-term.”
The tenant, Premier Healthcare Group, is an affiliate of Sanctuary Medicinals, Inc., a non-profit with a mission of providing the highest quality organic medicinal marijuana, service and education to qualified patients. As a long-term tenant, Premier Healthcare Group will be responsible for the management of the facility and has planned to make capital investments into the property to support the establishment of a cultivation facility.
Calare Properties is a private real estate manager and operator focused on acquiring warehouse, manufacturing, research and flex/office commercial real estate for the economic benefit of our investors and strategic partners. Since the firm’s inception in 2003, Calare has led the acquisition of over 17.5 million square feet of properties representing $800 million in transactions through funds, direct deals and a multi-asset portfolio.
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