News: Front Section

Calare Properties acquires two buildings totaling 53,600 s/f

Woburn, MA Calare Properties (Calare) has acquired an industrial flex portfolio in the Rte. 128 North industrial market. The asset, which is comprised of two buildings totaling 53,600 s/f, is located nine miles northwest of Boston at 64 Industrial Pkwy. and 1 Adele Rd.

64 Industrial Parkway - Woburn, MA

The two buildings are on adjacent parcels, totaling 2.9 acres, with access to I-95/Rte. 128, I-93 and local public transportation. The properties feature 16 to 26-ft. ceiling heights with open, flexible space ideal for a wide range of industrial users. Centrally located in the town’s sought-after flex/industrial sub-market, the asset can accommodate warehouse, manufacturing, flex office, tech, service and R&D tenants.

“The acquisition of 64 Industrial Pkwy. and 1 Adele Rd. further advances our strategy to pursue value-add investment opportunities in high-demand markets,” said Bill Manley, CEO at Calare. “We are confident this portfolio will deliver compelling investor returns in an industrial market that continues to thrive.”

As part of its investment strategy, Calare will implement a capital improvement plan to further enhance this high quality asset. Updates will include roof work, general repairs, flooring upgrades, HVAC updates, and improvements to landscaping.

“The location provides exceptional corporate visibility and easy access to the greater Boston market,” said Todd Barclay, VP of acquisitions at Calare.  “We have already received significant interest from potential tenants in need of high-quality flex space and we expect that interest to grow.”   

The area is home to many businesses in need of flex, manufacturing and warehouse space with extensive nearby employee retail amenities and transportation options. 

MORE FROM Front Section
Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.