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Calare Acquires Norwood Business Center For $9.1M

Dec 19, 2014 | Reprints | Unlock Link | Print

Hudson-based Calare Properties has acquired the 156,000-square-foot Norwood Business Center for $9.1 million.

The three-story building on an 18-acre parcel at 1400 Providence Highway contains 23,000 square feet of office space and 133,000 square feet of single-story industrial space. Under the previous owner, Billerica-based KS Partners, the property received $2.4 million of improvements in the last three years including a partial new roof, updated landscaping and a renovated parking lot. The buildings are approximately 65 percent leased, according to a statement from Calare CEO Bill Manley.

Roy Sandeman and Chris Skeffington of Transwestern RBJ represented KS Partners in the transaction.

Commercial