Calare Properties Leases 32,400 Square-Feet to IEP Technologies, LLC at South Street Business Park
August 20, 2014
Local real estate investment firm finalizes deal at 417 South Street in Marlborough, MA
Calare Properties (Calare), a private, Massachusetts-based investment firm with a focus on industrial and flex/office real estate, announced today that 32,400 square-feet (sf) of office space has been leased to IEP Technologies, LLC at South Street Business Park in Marlborough, Massachusetts. Rachel Marks, Senior Associate at CBRE/New England, represented Calare.
South Street Business Park is a 146,650 sf flex/office building owned and operated by Calare. Subsequent to the lease agreement, Calare collaborated with Integrated Builders and CI Design for the construction of a light manufacturing space, a fire suppression system, and an explosion proof room, all of which IEP Technologies requires for its unique operations.
“Calare worked tirelessly with us over many months to ensure that the South Street space perfectly met our company’s needs,” commented Randy Davis, CEO and President of IEP Technologies. “As an explosion prevention company, there are specific space requirements that we need to ensure safe and efficient operation. Calare was able to successfully meet all of our needs in a timely fashion.”
Constructed in 2010, South Street Business Park offers tenants a prime location and abundant parking just minutes from Route 495. The 417 South Street building offers complete flexibility for the flex/R&D user looking for premier space in the Metro West market. “The brand new building at 417 South Street was a natural fit for IEP Technologies,” added Marks.
“IEP was in search of a headquarters location with an efficient layout, a high-end image, and a quality build-out – and Calare was able to provide all three.” IEP Technologies is the world leader in the explosion protection industry, with operations in North America and Europe, serving customers throughout the world. IEP Technologies offers the industry’s leading array of industrial explosion protection systems, design engineering, replacement parts, material testing and field service support to its global customer base. Further information is available at www.IEPTechnologies.com.