Calare Properties Expands Footprint into North Carolina’s Research Triangle
July 23, 2025
FRAMINGHAM, MA (July 22, 2025) – Calare Properties (Calare) announced the acquisition of 3028 E Cornwallis Road, a premier tech manufacturing and research facility located in the heart of North Carolina’s Research Triangle Park (RTP). The 183,700 sq. ft. facility is fully leased to MACOM Technology Solutions Holdings, Inc. (MACOM), a global leader in high-performance semiconductor solutions.
This transaction marks Calare’s strategic entry into the Raleigh/Durham market, expanding the firm’s footprint into one of the most dynamic technology and innovation hubs in the US. Calare also has industrial assets in the Charlotte submarket and will be actively looking to grow their portfolio in the Carolinas through acquisitions and development.
The main production building spans over 150,000 sq. ft. across three floors. It houses state-of-the-art cleanrooms, labs, and mechanical infrastructure tailored for high-precision fabrication. Additional onsite buildings support wastewater treatment, chemical and electrical systems, and storage functions. The site also features robust power infrastructure, including dedicated electrical substations throughout the property.
“This acquisition reflects Calare’s commitment to aligning with world-class tenants in high-growth industries and we are excited to continue our partnership with MACOM,” said Bill Manley, CEO and CIO of Calare. “Calare’s entry into the Research Triangle underscores our focus on sourcing investments that combine high-quality tenancy with long-term growth potential.”
MACOM has signed a 12-year absolute triple-net lease for the property with additional lease extension options. The 55-acre site offers highly specialized infrastructure supporting round-the-clock operations and complex chip manufacturing needs.
Home to over 250 companies, RTP is the largest high-tech research park in North America and a magnet for global innovation in semiconductors, biotechnology, and advanced manufacturing. With this acquisition, Calare enters a region well-positioned for long-term growth, fueled by increasing demand for domestic chip production.
“Calare’s growing portfolio of industrial and technology assets reflects our continued focus on acquiring properties that deliver strong cash flow and value creation across dynamic markets,” said Bailey Duffy, Acquisition Associate at Calare. “This facility represents not just a high-performing asset, but a foothold in a market driving the future of technology and we look forward to expanding our presence in Raleigh/Durham.”
The greater Research Triangle region—encompassing Raleigh, Durham, Cary, and Chapel Hill—is one of the fastest growing metropolitan areas in the country. Consistently ranked among the nation’s top places to live and work, the region is defined by its innovation-driven economy, highly educated workforce, and exceptional quality of life. Supported by world-class universities, strong infrastructure, and a balanced mix of technology, pharmaceutical, and biotechnology industries.
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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 20 million sq. ft. of properties representing $1.2 billion in transactions through funds, direct deals and a multi-asset portfolio. Further information is available on our website www.calare.com.
ACQUISITIONS CONTACT
Bailey Duffy
bduffy@calare.com
860-604-6577
MEDIA CONTACT
Meghan Segien
msegien@calare.com
978-307-0303