FRAMINGHAM, MA – Calare Properties (Calare) celebrates the completion of 45 Industrial Park Road, a Class A warehouse/logistics development in Saco, Maine. The nearly 125,000 sq. ft. facility will serve as a key distribution hub for a globally recognized snack food manufacturer. Project costs were not disclosed.
“In bringing this modern facility to fruition, we are pleased to deliver a premier space that will support the business goals of this renowned organization while also contributing to the thriving industrial real estate market in Southern Maine,” said Albert Manley, Vice President of acquisitions at Calare. “We’re thrilled to welcome such a dynamic tenant to 45 Industrial Park Road and to continue delivering value to this growing market through strategic vision and investment.”
Calare purchased the site in the fall of 2021 and entitled the land for industrial usage with construction commencing in the summer of 2022. 45 Industrial Park Road features 32-foot clear height ceilings, 25 loading docks, office space spanning 8,500 sq. ft., and a 3,500 sq. ft. fleet service garage. ARCO National Construction served as the project’s design-build general contractor.
“Maine has so much to offer and has seen constant population growth over the past 10 years with significant expansion across most business and service sectors”, noted Todd Barclay, SVP of Calare Properties. “This is our second real estate project in Maine and we are committed to growing our business in the state. It has been a great experience.”
The 31-acre site is located approximately one mile from I-95 with immediate access to key points throughout Maine, New Hampshire, and Massachusetts. An estimated 25 million people reside within five hours of the project, providing a central hub for distribution operations.
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About Calare Properties
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 www.calare.com or email us at cnolfi@calare.com.
MEDIA CONTACT
Meghan Segien
Calare Properties
msegien@calare.com
978-307-0303