Framingham, MA-based Calare Properties has closed on the purchase of 35-55 Scotland Boulevard, an industrial campus in Bridgewater, MA. The portfolio consists of four high-bay warehouses located across 27.2 acres, along with an 8.5-acre site primed for development.

The four warehouses span 279,100 square feet and are fully leased with tenants including Barrett Distribution, Control 7, Fibertec, Johnson & Johnson and Winsupply.

• 35 Scotland Boulevard: 52,500 square feet on 5.9 acres and 100% leased to one tenant.
• 45 Scotland Boulevard: 80,000 square feet on 7.7 acres and 100% leased to one tenant.
• 50 Scotland Boulevard: 90,600 square feet on 6.3 acres and 100% leased to one tenant.
• 55 Scotland Boulevard: 56,000 square feet located on 7.3 acres and 100% leased to three tenants.

“Increased demand for industrial product coupled with insufficient supply has contributed to occupancy gains throughout 2022 and vacancy rates remain in the low single digits Albert Manley, VP at Calare. “We continue to focus on acquiring and developing well-located, highly functional industrial assets like Scotland Boulevard.”

Since the firm’s inception in 2003, Calare has led the acquisition of over 19 million square feet of properties representing $950 million in transactions through funds, direct deals and a multi-asset portfolio.