News: Front Section
Posted: October 28, 2016
Minnerly and Osvold of NAI Hunneman handle 218,258 s/f lease for Hackman Capital Partners, LLC and Calare Properties, Inc.
Cathy Minnerly, NAI Hunneman
Ovar Osvold, NAI Hunneman
Norwood, MA NAI Hunneman completed a lease renewal with Home Depot for 218,258 s/f at 625 University Ave. The renewal is an essential piece to the long-term stabilization of the property, and fits in with other recently completed transactions. Earlier this year PODS and ASD Lighting signed deals, creating a solid tenant roster for the landlord.
NAI Hunneman executive vice president Cathy Minnerly and vice president Ovar Osvold represented the landlord, Hackman Capital Partners, LLC of Los Angeles and Calare Properties, Inc. of Hudson, Mass., while Bob Gibson and Tony Kepano (Atlanta office) from CBRE represented Home Depot.
625 University Avenue - Norwood, MA
“Home Depot has been a valued tenant at 625 University Ave. over the years. Their space offers ideal ceiling heights, extensive paved outside storage, ample loading, 4 CSX rail spurs, and a central location with easy access – a very unique and rare opportunity! We are thrilled to be able to retain them at this first-class property that meets their distribution needs,” said Minnerly.
Located 15 miles south of Boston at the juncture of I-95 and Rte. 128, 625 University Ave. is set in a popular commercial area adjacent to a wealth of area amenities located within University Station. 625 University Ave. offers modern space with tailboard as well as drive-in loading, 21’ - 54’ clear heights, wide bays, heavy power, and CSX rail service. The property is owned by a joint venture formed by Hackman Capital and Calare. The property was purchased in 2007 as part of an 11.36 million s/f portfolio. PMRG manages the property.
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.
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