Canton, MA Calare Properties has acquired an 84,000 s/f industrial/flex building located at 95 Shawmut Rd. for an undisclosed price. Currently the building is 100% leased to five tenants, with a remaining average lease term of 5.5 years.
95 Shawmut Rd. offers a unique physical layout, allowing for a wide range of easily configured spaces to support the growth needs of current and future tenants. Providing flexible space options for companies in search of warehouse, distribution, and office uses, the asset is equipped with 22-foot clear ceiling heights, 18 dock doors, one drive-in door, and 305 on-site parking spaces. Additionally, the building’s depth of 140’ allows Calare to lease 95 Shawmut Rd. to accommodate a wide range of tenant sizes.
“Our team at Calare was attracted to the 95 Shawmut Road asset due-in-part to the building’s physical quality and excellent access to major highways,” commented Bryan Blake, President of Calare. “We are constantly working to identify premier acquisition opportunities in the market and creating value for our investors. We are thrilled to add yet another strong investment to our growing portfolio and are confident that the tenant base at 95 Shawmut Road will continue to thrive under our new ownership and management.”
Boasting a premier location directly adjacent to I-95, 95 Shawmut Road also offers close proximity to the I-93 interchange in Canton, MA. Additionally, the property is situated less than one mile from the new, 2,000,000 sf, mixed-use University Station development in Westwood, MA. Access to 95 Shawmut Road will be further enhanced with the upcoming construction of a new off-ramp from I-95 northbound to Dedham Street.
“95 Shawmut Road is a best-in-class asset within its market, and has benefited from an exceptional location, diminished supply of similar product, and an improved infrastructure, as evidenced by its high-quality tenancy,” added Andrew Iglowski, Director of Acquisitions at Calare. “We are confident that the facility will outperform its competitive set throughout all cycles.”
###
About Calare Properties
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 15 million square feet of properties representing $650 million in transactions through funds, direct deals and a multi-asset portfolio. Further information is available atwww.calare.com<http://www.calare.com>.
