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Sun, Nov 27
A Compendium of Property & Capital News
Nov 27

Quad of Framingham Warehouses on 35-Acre Campus Acquired By Calare Properties

October 25, 2022
55 Scottland Boulevard, Framingham MA

FRAMINGHAM — Calare Properties has closed on the purchase of 35-55 Scotland Boulevard, a well-positioned industrial campus in Bridgewater, Massachusetts. According to a release, the portfolio consists of four high-bay warehouses located across 27.2 acres, along with an 8.5-acre site primed for development. The financial terms of the purchase were not disclosed.

“This purchase presents a rare opportunity to invest in and enhance a well-maintained industrial portfolio while also offering a platform for growth with a future potential development site,” Todd Barclay, SVP of Acquisitions at Calare. “Located only minutes from Route 24 and Interstate 495, the Scotland Boulevard campus serves as an ideal home for warehousing, distribution, manufacturing, and more.”

Spanning 279,100 sq. ft., the four warehouse buildings are fully leased, with tenants including Barrett Distribution, Control 7, Fibertec, Johnson & Johnson, and Winsupply. The addresses on Scotland Boulevard are: 35, 45, 50 and 55.

“Increased demand for industrial products coupled with insufficient supply has contributed to occupancy gains throughout 2022 and vacancy rates remain in the low single digits”, noted Albert Manley, VP at Calare. “We continue to focus on acquiring and developing well-located, highly functional industrial assets like Scotland Blvd.”