Calare Properties Acquires Strategic 14-Building Flex Portfolio in Tampa, FL Area
September 9, 2014
Massachusetts real estate investment firm completes 231,867 square foot purchase
Calare Properties (Calare), a private, Massachusetts-based investment firm with a focus on industrial and flex/office real estate, has acquired 231,867 square feet (sf) of office and industrial space in the greater Tampa, Florida area, located on a combined 21- acres of land. The purchase of Airport Corporate Center and Bay Tec Center are part of the firm’s strategic east-coast expansion.
“We are excited to announce our expansion into the Tampa area with this strategic portfolio purchase.” Said Bill Manley, Managing Partner and CIO of Calare Properties. “The addition of the two facilities gives us a strong foothold in an area with a fast-growing economy. It is a testament to our ability to seek out phenomenal investment opportunities outside of our traditional target markets.”
Located near Tampa International Airport on 6702-6712 Benjamin Road in Tampa, Airport Corporate Center is a 6-building development with 107,540 sf of office and light industrial space. The property is conveniently situated in Tampa’s “Westside/Airport” submarket, making it an ideal location for frequent users of Tampa’s air cargo facilities.
Bay Tec Center is an 8-building development with 124,327 sf of office and light industrial space located in nearby St. Petersburg. The property is situated in the Mid-Pinellas industrial submarket, adjacent to Carillion Park, Tampa’s premier mixed-use office park. With a desirable location between the Howard Franklin and Gandy Bridges, Bay Tec Center tenants will enjoy easy access to major highways and distribution routes within Pinellas County and the greater Tampa area.