8 Lakeville Business Park - Lakeville, MALakeville, MA On behalf of Calare Properties, CBRE/New England’s Debt & Structured Finance team secured acquisition financing for 8 Lakeville Business Park, a single-story, fully leased, 100,000 s/f warehouse building. East Boston Savings Bank provided financing for the industrial property in the amount of $3.975 million.
CBRE/NE’s Kyle Juszczyszyn, Chris Coutts and Lenny Pierce secured the financing. “We ran a very competitive process and secured an attractive long-term, fixed-rate loan that aligns with Calare’s strategy for this asset,” said Coutts.
“We are excited to have acquired 8 Lakeville Business Park, which will provide our partners with stable, long-term cash flow. This is the fourth asset our firm has acquired in the immediate submarket and we continue to evaluate select acquisition opportunities,” said Andrew Iglowski, director of acquisitions at Calare Properties.
Occupied by Guardian Building Products (30,000 s/f) and T3 Expo (70,000 s/f), 8 Lakeville Business Park is located one mile off of I-495 at Exit 5 with access provided by Rte. 18. The property’s proximity to I-495 provides access to both Boston’s urban core (55 miles to Boston) via I-93 and the inner suburbs along Rte. 128. The property’s I-495 access also offers an easy connection to Providence, RI via I-95.
Calare Properties, Inc. is a fully integrated real estate organization, recognized as the largest owner of industrial properties in the Greater Boston market. Established in 2003, Calare Properties specializes in the ownership, management and leasing of industrial and flex/office properties primarily in the Northeast. Calare has led the acquisition of over 17.4 million square feet of properties, representing over $750 million in real estate transactions through funds, direct deals and a multi-asset portfolio.
CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2015 revenue). The company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.