Calare Properties Sells 59K-SF Industrial Portfolio in Woburn
Calare Properties has sold a two-building, 58,600-square-foot industrial portfolio in Woburn for an undisclosed price. The buyer was an owner-user.
Located at 64 Industrial Parkway and 1 Adele Road, the portfolio is located on adjacent parcels and totals nearly three acres. The buildings include ceiling heights spanning 16 to 28 feet and flexible space ideal for a range of industrial users, including warehouse, manufacturing, flex office, tech, service and R&D tenants. Calare acquired the portfolio in 2018 and invested over $1 million in capital improvements with a focus on modernizing both buildings for tenant needs.
“We knew there was significant value in the asset given its prime Woburn location and low industrial vacancy rates,” said Bill Manley, CEO at Calare. “We have executed many corporate dispositions over the years and pride ourselves on our ability to work creatively with the owner, in partnership, to meet their business objectives.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.