Calare Properties Secures 40,500 sq. ft. Asset in Framingham, MA

February 21, 2019

FRAMINGHAM, MA – Calare Properties (Calare) has acquired a centrally located boutique office property at 30 Speen Street in Framingham. Totaling approximately 40,500 sq. ft., the five-story building sits on 2.5 acres in the highly desirable Natick/Framingham, exit 13 micro-market.

The asset benefits from direct highway frontage and signage along the Mass Pike (I-90), offering ideal corporate brand visibility (136,000 vehicles per day) in a thriving office market home to several blue-chip tenants. This prime location also provides easy access to multiple commuting routes, as well as an abundance of amenities for dining, shopping, and entertainment.

Delivered vacant following the move of a long-term owner/tenant, the well-maintained property features extensive parking and flexible space ideal for a wide range of users. Floor plates vary from 7,200 to 9,000 sq. ft. with adaptability to accommodate single and half-floor tenants, or a full building user. Calare will further enhance the asset through a capital improvement plan focused on cosmetic updates to the facade, exterior lighting, lobby, and interiors.

“30 Speen presents an ideal long-term investment opportunity that perfectly complements Calare’s strategy, targeting quality assets in high-demand markets with easy access to major highways,” said Bill Manley, CEO at Calare. “We anticipate tenants will also appreciate the unique attributes of this property, as already experienced during preview tours.”

Calare has partnered with CBRE for property leasing. More information on available lease opportunities can be found at www.30speen.com.

Framingham is located less than 20 miles west of Boston and 20 miles east of Worcester, in the heart of the Metro West region. The Metro West is home to the second largest employment base in Massachusetts with well-known tenants including TJX, Mathworks, Staples, Boston Scientific, and Bose. Ongoing demand and positive absorption in the region has driven a sub 11% vacancy rate in the Natick/Framingham Exit 13 market in 2018.

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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 18.5 million sq. ft. of properties representing $850 million 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
978-627-1067