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Calare Picks Up Flex Industrial in Chelsea
Calare Properties acquired 201 Crescent Ave. in Chelsea, MA, a northern suburb of Boston, for a reported $10.4 million. The 31,800-square-foot industrial flex asset is leased to Shore Educational Collaborative under a triple-net lease agreement.
“This acquisition reflects our philosophy of leveraging advancing market trends for maximum investment value,” said Bill Manley, CEO at Framingham-based Calare. “With the ongoing growth of e-commerce, the demands for last mile logistics, and the need for flexible space, 201 Crescent presents an ideal opportunity for Calare and our investors.”
201 Crescent Ave. sits on 1.38 acres, four miles from downtown Boston and three miles from Logan Airport. The property was extensively upgraded in 2019.
CBRE’s Roy Sandeman, Scott Dragos, Doug Jacoby, Chris Skeffington, Tim Mulhall and Tony Hayes represented Calare as well as the undisclosed seller. Middlesex Savings bank provided the financing.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
