Hudson-based investment Calare Properties has acquired 480 Paramount Drive in Raynham.

The 40,000-square-foot flex building on 7.5 acres of land is currently 100 vacant, and Calare is undergoing negotiations with prospective tenants. CBRE/New England’s industrial team, led by Steve Clancy, is in charge of the tenant search.

The 11-year-old building was previously leased to a national tenant for an eight-year term, but never occupied, leaving it in like-new condition. The facility features 20-foot clear ceiling heights, eight tailboard doors, 111 surface-level parking spaces and a number of loading docks.

The location is immediately off Route 44 at Route 24 in the southern 495 submarket.

The seller elected not to be named, and no sales price was released per company policy.