Investment Summary
Property: Acquisition (sale/leaseback) of 100 Chelmsford Street with a 20 year absolute lease and ground-up development of 144 Chelmsford Street in Lowell, MA in partnership with long-term tenant MACOM Technology Solutions, Inc.
Pricing:
- Total Project Cost – $35,900,000+
Strategy: In collaboration MACOM and Calare is building the company’s global headquarters and with its current manufacturing facilities create a cohesive, world-class corporate campus.
Opportunity / Highlights
- The newly-built 144 Chelmsford Street together with 100 Chelmsford Street and 121 Hale Street (also owned by Calare) will come together to create a world-class corporate headquarters/campus
- Ground up development of 144 Chelmsford Street will feature 58,000 sf of Class A office space with a sleek, modern design, high-end finishes and floor-to-ceiling windows enhancing natural light
- The entire site including two manufacturing buildings will be redesigned to create an employee friendly corporate campus with all new landscaping, walkways, parking area and facades.
- 100% Leased with 20 Year Absolute Net Leases at 100 Chelmsford Street and 144 Chelmsford Street Strategically located near Route 3 and I-495 in a low vacancy manufacturing and industrial market with easy access for employees via public and private transportation