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Boston & New England  + Metro Boston  + Industrial  | 

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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).