Calare Picks up Salem Industrial/Flex Via Klein Group for $10M+
February 12, 2025
Salem — Marcus & Millichap’s Klein Group continued its early 2025 industrial sales streak with the confirmed closing of an 84,814-square-foot flex/industrial property at 1 Technology Way in Salem, Massachusetts, for $10,125,000. The transaction was a sale-leaseback.
“This transaction allowed the seller to secure long-term occupancy of the building for the operating company with shared ownership while delivering real estate ownership to one of New England’s most respected industrial landlords,” said Harrison Klein, first vice president. “The buyer will immediately look to lease the remaining 22,000 square feet, which was vacant at the time of sale.”
Klein, Luigi Lessa and Mattias Edenkrans, investment specialists in Marcus & Millichap’s Boston office, represented the seller and procured the buyer, Calare Properties.
“This leaseback allows the new owners to capitalize on long-term, stable rent growth while allowing the tenant to focus on their operating business,” added Mattias Edenkrans, associate.
The flex/industrial building sits on approximately four acres in the affluent community of Salem, MA. A majority of the property is occupied by a sophisticated manufacturing user who will continue operating out of the building on a long-term lease agreement.
