August 20, 2019
Calare Properties has sold 19-21 Alpha Road, a two-building flex portfolio in Chelmsford. The 127,000-square-foot property sold for $15.7 million. Dave Pergola, Brian Doherty and Pete Rogers of Cushman & Wakefield represented Calare in this transaction. The buyer was undisclosed.
Calare acquired the property in 2016, and implemented several value-add investments that included a new roof, solar panels and expanded parking facilities. The 12-acre property is currently fully-occupied by a tenant roster that includes Endeavor Robotics, Thermo Fisher Scientific, NRG Energy and Krueger Food Laboratories.
“We are incredibly pleased with the outcome at 19-21 Alpha Road., where our investment strategy was executed seamlessly and successfully per our target three-year plan,” said Charles Nolfi, managing director at Calare. “Property improvements have attracted premier tenants and generated long-term value for this previously underserved property.”
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