480 Paramount Drive, Raynham, MA

Investment Summary

Property:  480 Paramount Drive is a Class A, 40,000 SF industrial/flex property located in the Raynham Woods Commerce Center in Raynham, MA.
  • Acquisition Price – $2,850,000 (71 PSF) – November 2015
  • Total Project Cost – $3,785,000 (95 PSF)
Strategy:  Acquisition of easily configurable for warehouse, manufacturing, lab and office space in an ideally situated location 36 miles from Boston, MA.

Opportunity / Highlights

  • Calare acquired the property vacant in a low basis, off-market transaction when the original buyer fell out of contract.
  • High tenant demand for industrial/flex with limited supply in the Route 495 South submarket further exacerbated by the Taunton casino development site eliminating 250,000 SF of industrial/flex space in the area.
  • The 495 South Market has a very low vacancy rate of approximately 7% for industrial/flex space and strong tenant demand has kept rental rates on the rise.
  • The building is in excellent condition providing superior space with a flexible layout that is easily configurable for warehouse, manufacturing, lab and office.
  • Equipped with 20 foot clear ceiling heights and eight loading docks, the building provides flexible space for a single tenant or multiple tenants.