Calare Properties completes sale of 301 Page St. for $12 million

Stoughton, MA Calare Properties has completed the sale of 301 Page St. for $12 million. Built in 2004 as the corporate headquarters, retail and distribution space for long-term tenant Boston Interiors, the 119,000 s/f class A property is maintained and features 36-foot high ceilings, a rare offering in Greater Boston’s industrial market. Calare purchased the asset in an off-market transaction in April of 2016. 

“301 Page St. stands as a prime asset in the Metro South region, where premium high bay warehouse space is scarce, and demand continues to rise,” said Bill Manley, CEO and CIO of Calare. “Calare is pleased to have successfully positioned this unique opportunity to a buyer who will benefit from having a trusted, long-term tenant in place.”

Boston Interiors, a well-established regional furniture brand, occupies the entire building for its warehouse, retail and distribution operations, with a lease commitment of over 12 years. The property is situated on 17 acres and includes 10,000 s/f of office, 9,000 s/f of showroom and 100,000 s/f of high bay warehouse space. 301 Page St. is fully heated and climate controlled, with 16 dock-high doors, two trash dock doors, and 113 surface-level parking spaces.

“The asset quality, location and heated Boston industrial market created significant capital appreciation in a very short timeframe,” said Charles Nolfi, managing director of Calare. “We are pleased to provide our investors such substantial investment returns in less than two years of ownership.”

301 Page St. is situated in a dense warehouse, flex and retail market with such notable brands as Amazon, Ikea, Target and BJ’s in the vicinity. The property is located in the Rte. 128 submarket, 16 miles south of Boston. The site also features access to Rte. 24, providing accessibility throughout the region.

Calare Properties is a private real estate manager and operator focused on acquiring warehouse, manufacturing, research and flex/office commercial real estate for the economic benefit of our investors and strategic partners. Since the firm’s inception in 2003, Calare has led the acquisition of over 17.5 million s/f of properties representing $800 million in transactions through funds, direct deals and a multi-asset portfolio.