Sep
24
Calare Properties Lets Go of MA Asset
ByThe warehouse, which Calare bought in 2015, is located in Watertown, Mass., and changed hands for $15 million. It is 100 percent leased.
Shortly after selling a lab facility in Billerica, Mass., Calare Properties finalized a new transaction in the Boston area. The 94,268-square-foot warehouse and distribution facility is located in Watertown and is fully leased through January 2024. The deal closed at $15 million, signaling a robust Greater Boston industrial market.
“Industrial real estate continues to see significant value increases as a growing buyer pool drives up exit pricing,” said Bill Manley, the company’s CEO & CIO, in a prepared statement. According to industry reports, lease rates increased by 6.3 percent year-over-year, as of the second quarter of 2017…
