Hudson-based Calare Properties has sold 25 Tucker Drive, a 588,000-square-foot industrial property in Leominster, for $31.5 million.

The buyer was Key Mass LLC of Holland, Michigan, according to Worcester County Registry of Deeds records.

Calare acquired the vacant property in a joint venture with Fir Tree Partners in December 2012 for $11.65 million. Since then, it’s leased 401,316 square feet to Affordable Interior Systems and signed a 185,274-square-foot expansion with office furniture manufacturer AIS. The property is now 100 percent occupied.

25 Tucker Drive contains manufacturing, distribution and office space on a 24-acre parcel with access to CSX rail service.

Calare was represented by Stan Johnson Co.’s Britton Burdette and Mollie Alteri in the latest transaction.