Devens facility sold to real estate investor
A Class-A manufacturing facility, 392,000 square feet in size, located in Devens at 112 Barnum Road, has recently been purchased by a major real estate investment company for $36,050,000.
The building was originally constructed in 2010 for Evergreen Solar as their headquarters. It has state-of-the-art research and manufacturing facilities including gas distribution systems and massive air handling and humidification systems.
Calare Properties, a real estate investment firm, and Hackman Capital Partners, LLC, a firm that invests in large assets, purchased the property in April 2012 and then leased half of the building to Saint-Gobain, a French multi-national corporation. The other half of the building was leased in late 2013 to a manufacturer of plastic molded parts.
According to CEO and CIO of Calare, Bill Manley, a calculated risk was taken when they purchased the property, but the two companies were able to transform the facility so that it was completely leased and best in its class.
The facility is located in the Barnum Business Park and has an ideal location as it two miles north of Route 2 and just four miles west of Route 495. This easy accessibility to major highways enables tenants to easily get to major business centers in the Northeast including Hartford, Boston, and New York City.
The new investor might work with brochure printers to create a mailer for manufacturing companies who are looking to relocate their production to the area.
The building was originally constructed in 2010 for Evergreen Solar as their headquarters. It has state-of-the-art research and manufacturing facilities including gas distribution systems and massive air handling and humidification systems.
Calare Properties, a real estate investment firm, and Hackman Capital Partners, LLC, a firm that invests in large assets, purchased the property in April 2012 and then leased half of the building to Saint-Gobain, a French multi-national corporation. The other half of the building was leased in late 2013 to a manufacturer of plastic molded parts.
According to CEO and CIO of Calare, Bill Manley, a calculated risk was taken when they purchased the property, but the two companies were able to transform the facility so that it was completely leased and best in its class.
The facility is located in the Barnum Business Park and has an ideal location as it two miles north of Route 2 and just four miles west of Route 495. This easy accessibility to major highways enables tenants to easily get to major business centers in the Northeast including Hartford, Boston, and New York City.
The new investor might work with brochure printers to create a mailer for manufacturing companies who are looking to relocate their production to the area.