Calare Properties Acquires Prime Retail Property in Woburn
January 29, 2025
FRAMINGHAM, MA – Calare has completed the purchase of the MetroNorth Shopping Center, a prime retail strip portfolio in Woburn, Mass. Located at 99-103 Commerce Way, the property is comprised of two buildings totaling approximately 38,000 sq. ft. Financial details for the transaction were not disclosed.
“We are pleased to add the MetroNorth Shopping Center to our Commercial real estate portfolio and to expand our retail footprint,” said Michael Sullivan, Senior Associate of acquisitions at Calare. “We believe the unmatched location of this asset, coupled with the quality of tenants and high volume of consumer traffic, provide a compelling opportunity for long-term value.”
The MetroNorth Shopping Center is 100% leased to a mix of regional and national retailers serving a range of lifestyle, wellness, and dining needs. The Center features 11 retailers and over 200 parking spaces in a high-traffic location. The two properties serve as the gateway to a Target Superstore that is one of the top-performing stores in the state.
The well-located property sits directly off of Route 93 within an area that is quickly transforming into thriving mixed-use district attracting multifamily development, office users, retailers, and dining. A nearby MBTA Commuter Rail Station with direct access to Boston, along with close proximity to the I-95 Interchange, make this area an attractive commuter-friendly destination.
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About Calare Properties, Inc.
Calare Properties is a private real estate manager and operator focused on acquiring warehouse, manufacturing, research and flex/office commercial real estate for the economic benefit of our investors and strategic partners. Since the firm’s inception in 2003, Calare has led the acquisition of over 19 million sq. ft. of properties representing $1 billion in transactions through funds, direct deals and a multi-asset portfolio. Further information is available on our website https://calare.com or email us at cnolfi@calare.com.
MEDIA CONTACT
Meghan Segien
Calare Properties
msegien@calare.com
978-307-0303