Calare Properties has closed on the purchase of a 119,000 sqf warehouse/retail building in Stoughton, MA. Located at 301 Page Street, the facility features 10,000 sqf of office, 9,000 sqf of showroom, and 100,000 sqf of high bay fully-heated warehouse space. Boston Interiors, for whom the building was purpose built for in 2004, signed a new 15 year lease at the time of acquisition. The building is situated in a dense warehouse, flex, and retail market, featuring neighboring companies such as Amazon, IKEA, Target, Kohl’s, Jordan’s Furniture, Bassett, and BJ’s Wholesale Club. Terms of the deal were not disclosed.
“301 Page Street offered the unique opportunity to secure a Class A, high bay distribution asset below replacement cost in an off market transaction,” said Andrew Iglowski, Director of Acquisitions at Calare. “The strength of the tenant and term of the lease provide secure cash flows over the long term, and our basis will provide us with a high level of relative liquidity.”
