Property: Two building, multi-tenanted portfolio, totaling 127,000 SF located in a premier business park, at I-495 and Route 3 in Chelmsford, MA.
- Acquisition Price – $8,900,000
- Total Project Cost – $9,444,000
Strategy: Value add opportunity in need of strong management and capital in a prime location with acquired 40% vacant.
- The identical u-shaped, Class A flex single story buildings feature 14’ ceiling heights, flexible/easily sub dividable floorplates, tailboard loading docks, and ample parking
- Lack of high-quality flex assets in the market with increased tenant demand provided a foundation to bring the portfolio to 100% leased
- Located in a premier business park providing high quality, cost effective space proper management without compromising access to the Boston Metro West and Southern NH skilled labor pool
- Calare’s ability to capitalize on the opportunity to add value through strategic capital investment and proper management