October 8, 2020
Calare Properties has sold a two-building, 58,600-square-foot industrial portfolio in Woburn for an undisclosed price. The buyer was an owner-user.
Located at 64 Industrial Parkway and 1 Adele Road, the portfolio is located on adjacent parcels and totals nearly three acres. The buildings include ceiling heights spanning 16 to 28 feet and flexible space ideal for a range of industrial users, including warehouse, manufacturing, flex office, tech, service and R&D tenants. Calare acquired the portfolio in 2018 and invested over $1 million in capital improvements with a focus on modernizing both buildings for tenant needs.
“We knew there was significant value in the asset given its prime Woburn location and low industrial vacancy rates,” said Bill Manley, CEO at Calare. “We have executed many corporate dispositions over the years and pride ourselves on our ability to work creatively with the owner, in partnership, to meet their business objectives.”
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