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Calare Acquires Newton Industrial/Flex Portfolio
Calare Properties has completed the acquisition of a well-located industrial/flex portfolio totaling more than 73,000 square feet in Newton, MA, with prime visibility along the Mass Pike. Comprised of two separate properties at 66 and 77 Rowe St., the purchase reflects Calare’s strategic focus on value-add investment opportunities within Greater Boston.
“While both properties have been meticulously cared for by the long-time tenants, there is a great deal of untapped potential in these sites considering the extraordinary demand for highly accessible and functional space in the region,” said Todd Barclay, SVP at Calare. “This premiere location, just miles from downtown Boston and Cambridge, presents an ideal opportunity for a range of users.”
With this purchase now complete, Calare plans to further enhance the properties through a number of capital expenditures. Planned updates include re-surfacing parking areas, the addition of a new roof, HVAC upgrades and reconfiguration of interior space.
- ◦Sale/Acquisition
