Calare Acquires 25 Tucker Drive for $11.65 Million

December 7, 2012

Calare Properties, Inc., a Massachusetts-based real estate investment manager, announced today that it has completed the acquisition of 25 Tucker Drive in Leominster, MA.

The 588,000 SF site offers single-story contiguous manufacturing, distribution and office space on 24 acres. The facility is demisable for up to three tenants and is located less than a third of a mile from Route 190, with direct access to I-495 and the MA Pike, an ideal location for an industrial user. The building also features 26-28’ ceiling heights, 11,500 kVA of available power, 43 dock doors and CSX rail service with a double spur that allows sidecar loading directly into the distribution area

Calare acquired the property for $11,650,000 ($20/SF), a fraction of its replacement cost in a corporate disposition after sitting vacant for several years. Bill Manley, Calare’s Managing Partner and CIO, says, “we are excited to complete the purchase of 25 Tucker. As we implement and complete a $4,000,000 restoration campaign, we have already received a number of inquiries about this property. It is a world class facility located in a very business friendly municipality, less than one mile from the interstate.”