Photo courtesy Calare Properties

Framingham-based developer Calare Properties has acquired a Chelsea industrial property leased to an educational collaborative for $10.4 million.

The 31,800-square-foot flex building is is located on a 1.4-acre parcel and occupied by Shore Educational Collaborative under a long-term triple-net lease, Calare said.

The acquisition is part of Calare’s strategic focus on the urban industrial market north of Boston, the Hudson-based developer said.

“With the ongoing growth of e-commerce, the demands for last mile logistics, and the need for flexible space, 201 Crescent presents an ideal opportunity for Calare and our investors.”

The single-story facility was built in 2004, according to assessors’ records, and previously sold for $3.75 million in July 2017. It contains 25-foot ceilings and two loading docks.

CBRE’s Roy Sandeman, Scott Dragos, Doug Jacoby, Chris Skeffington, Tim Mulhall and Tony Hayes represented the seller and buyer. Middlesex Savings Bank provided $6.9 million in acquisition financing.

Calare Acquires Chelsea Flex Property for $10.4M

by Steve Adams time to read: 1 min
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